Pot stocks aren’t just for suckers anymore.
Five years ago, when California and a few other US states started legalizing marijuana, the internet lit up with weed-driven penny-stock scams. Now, shares of marijuana companies are beginning to attract a few big-name investors.
Billionaire Leon Cooperman piped up on a recent earnings call for Green Thumb Industries, a Chicago-based grower and seller of medicinal cannabis that recently went public in Canada.
The 75-year-old hedge fund tycoon asked a few questions about pot legislation in Illinois, acquisitions in the space and the outlook in California — and revealed after the call last week that he has invested in the company.