This Secret Document Reveals One Big Bank's Crazy Marijuana Plans
It was only a matter of time: Wall Street heavyweight Merrill Lynch, the wealth management division of Bank of America, has apparently already started thinking about its role in the marijuana industry.
A 45-page equity report leaked to Philly Inquirer columnist Chris Goldsteinsuggests that Merrill Lynch is paying close attention to the budding industry. The company says that it's particularly "bullish on the cannabis testing market."
A prospective investor who received the report last week recently shared it with Goldstein. It included information about various components of cannabis such as THC and CBD, state medical marijuana laws, medical conditions that marijuana has been shown to treat, public polling, and details about "publicly traded companies already operating in the sphere."
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