It seems like a risky business. The barriers to entry are quite low for the industry and I doubt brand and marketing will be key differentiators as all strains of weed seem to have unique and captivating names.

When it matures I would suspect the pot industry will have the same characteristics of the the wine industry. Not much brand loyalty and firms will need enough economies of scale to be profitable but will never get too big.

The eventual consolidation of the industry may sort out winners and losers but that is still a crap shoot.

For me, I will wait to see the P&L of these firms a year or two after the pot market is open. I may miss some upside but I will avoid getting a thrashing.