In the 1850 gold rush, millions of Americans headed west to get rich digging for gold. Very few of them ended up making any money. But for the stores that were selling picks and shovels, well that’s a different story. They made a fortune.
This is the genesis of what Wall Street calls the pick-and-shovel play.
A pick-and-shovel play is an investment in a company that sells supplies or materials to an entire industry or even multiple industries. Continue reading “Pick-and-Shovel Cannabis Play”