Every 90 days, Khadijah and Charles Adams, founders and owners of Marijuana Investment and Private Retreat (MIPR), hold marijuana investment conferences that give inside information on the marijuana industry. With medical marijuana legalized in 23 states and four passing recreational use, MIPR is mobilizing Black investment on a national scale.
Each event, which Khadijah says will soon be taking place in major cities across the country, are geared towards the average person with presentations, and panel discussions that feature experts, analysts, and entrepreneurs that give information about legal marijuana companies, and tips on how to avoid fraudulent stock investments.
Khadijah, who has invested in multiple marijuana-related stocks like Totally Hemp Crazy, says the time is now to invest.
“African Americans and minorities were the ones that were being locked up and imprisoned on marijuana charges after its ban in 1937. I feel like outlawing cannabis was a form of discrimination once people saw that Black people were making money that way. My husband – an African-American man – spent 11 years in jail on marijuana and other drug-related charges and while we have put that behind us, we are now flipping it and embracing the opportunity to build wealth through the very charges that put him behind bars,” Khadijah says. “This is absolutely a movement and these conferences will addressing the fears and the realities that have affected African Americans and the opportunities that they can now be involved in.”
To put things in perspective, Khadijah likened the current cannabis movement with prohibition in the United States, which was a nationwide constitutional ban on the sale, production, importation, and transportation of alcohol, which remained in place from 1920 to 1933. She feels that entrepreneurs like Joseph Kennedy were smart by moving in before the official nationwide legalization of alcohol, which helped the Kennedy family make a fortune. She hopes she can help others do the same in the case of marijuana.
“Some may call Joe Kennedy a bootlegger but I call him a smart man. He invested in alcohol before its federal legalization and he didn’t just invest in the drink – he invested in everything around it like distilleries, and bottling companies, which created wealth, fame, and political power for his family over time,” Khadijah says. “The same can be said for marijuana. We are not saying to invest in the flower, we are teaching people how to invest in companies that support the cannabis industry through stocks. Some of these stocks are selling for literally pennies. Those prices will begin to go up as marijuana becomes legalized across the country. It’s our job to educate our communities of color how to create legitimate portfolios before it’s too expensive to buy shares.”
According to Khadijah, the popularization of the cannabis industry is on the upswing – especially in Denver – with the state bringing in $790 million in the last year. Because of this financial success, she predicts that federal legislation will pass marijuana in the next two to five years, and hopes Black Americans are ready to “get a piece of the pie before its cooked.”
Nathan Wilson, administrator for MIPR, agreed with Khadijah’s assessment and said the more money other lawmakers see the state of Colorado making, the faster they will be legalizing marijuana, which will eventually create a booming market across the country.
“This is very powerful series and the key is to get people to understand the magnitude of how big the legal cannabis industry is right now and how huge it will progress on a political and business level in the future. In the last year, $135 million went into the state of Denver through just taxes and fees alone,” Wilson said. “Those stats are what is going to drive other states to follow Colorado’s lead. With that information in the forefront, a lot of small marijuana companies are emerging and being publicly e-traded. So with Khadijah and Charles putting together these investment conferences – it’s a powerful movement.”
And with the next conference, entitled “Adding Marijuana to Your Investment Portfolio,” being held in Denver from June 26 to June 28, Khadijah and her team will feature Matthew D. McCall, financial analyst and Fox Business contributor, and Jason Spatafora, an entrepreneur who has been dubbed the “Wolf of Weed Street,” after making $600,000 through cannabis-related investments this past January. The event will also target veterans and Khadijah said she is currently in negotiations with marijuana companies that will sponsor veteran attendance.
And as Khadijah continues to develop her own portfolio, she said she hopes others will follow suit and realize the potential cannabis has to offer.
“We hope that people will come learn from us and then take that knowledge and pass it along and share with others. We want to teach our people how to read the signs and let them know that this movement is coming full speed ahead,” she says. “People need to be aware that they have a place in this industry. You don’t need anyone’s permission to be successful and we have the knowledge that can show you how to proceed.”