The California Gold Rush took place in 1849 when thousands of people went to California hoping to get rich quick after finding out that gold was found at Sutter’s Mill on James Marshalls’ land. James Marshall tried to hush it up but the news, but Sam told as many people as he could so he could sell them shovels and make a fortune in the process. The shovels were a derivative of the gold. Meaning, instead of looking for the gold, build a business that profit of the people who make the money.
Back in October of 2018, Canada legalized marijuana for recreational use. In 2019, marijuana is legal medically in 33 U.S. states and counting.
The marijuana industry has become the new gold rush and one of the companies acting as the shovel is Scotts Miracle-Gro. Scotts Miracle-Gro is that company that helps your lawn stay plush and lush.
They have leverage their expertise in lawn care to also help companies improve their crop yields. So it only makes sense that they participate in the new Gold Rush.
I personally think that marijuana will become a commodity. I personally think the real money will be made in medical marijuana sector. And that’s were Scott Miracle-Gro comes into play. Their subsidiary Hawthorne Gardening primarily provides hydroponic solutions to the medical cannabis industry. Hydroponics involves the growth of plants in a nutrient-rich water solvent as opposed to soil.
Scott Miracle-Gro also acquired Sunlight Supply which sells hydroponic equipment to small- and medium-sized cannabis businesses and offers a similar array of hydroponic equipment.
I’m all about working smarter, not harder and I think Scott Miracle-Gro fits that theme and should be kept on your radar.
This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.