Millennial Investors, Clichés VS. Reality
One area that’s particularly piquing the interest of millennial investors is the global medicinal cannabis industry. According to online investing app Robinhood, five licensed cannabis stocks feature among its 50 most-held companies. This is important because the average age of Robinhood’s members is 32, making it a compelling representation of what’s catching the attention of millennial investors right now. So, why are cannabis stocks doing such a good job of reeling them in?
First, medicinal cannabis is something tangible that millennials can understand and can connect with. Second, they’re less likely to be influenced by the stigma previously attached to cannabis and more likely to be tuned into its potential for medicinal applications and use. And third, they’re excited by its huge growth potential. Figures from Prohibition Partners reveal that the value of the UK medicinal cannabis market alone could reach £2.31bn by 2024 creating lucrative investment opportunities as global demand grows.
With the popularity of medicinal cannabis products like CBD gathering strength, investment providers with the vision to market their services to millennials in a way that resonates with them will be well positioned to capitalise on these opportunities going forward. And if they can do that successfully, investing might just become the new avocado toast…