Ron Strider
Well-Known Member
"Mad Money" host Jim Cramer looks into how one cash management company could get an unexpected boost from marijuana.
If you thought paper money was near extinction, Brink's, the largest cash management company in the world, proves you wrong, Jim Cramer said.
But Brink's, which does everything from transporting valuable items in armored vehicles to managing ATMs, could be helped by one unexpected but growing trend: marijuana legalization.
"Brink's isn't really involved in the pot industry per se, but because none of these new dispensaries can open bank accounts thanks to federal law, they're all hiring tons of armored cars to protect their money. Like it or not, marijuana is a cash business," the "Mad Money" host said.
And while the company has many other growth drivers going for it, like its new smart safe initiative, CompuSafe, which counts your money as you put it in, and its cost-cutting migration to the cloud, a foray into pot could send the stock even higher.
"Even if Brink's isn't trying to capture the marijuana market share directly, there are only so many armored trucks in this country, and when demand for them surges from one particular industry, you better believe that's going to help with pricing across the board. This is a pot play!" Cramer said. "Brink's has worked a remarkable transformation, and despite all the hand-wringing about the death of king cash, this stock seems to have a lot more room to run, especially as states legalize pot."
News Moderator: Ron Strider 420 MAGAZINE ®
Full Article: Cramer Remix: How the legalization of marijuana could give Brink's a boost
Author: Elizabeth Gurdus
Contact: Ask a Question
Photo Credit: Getty Images
Website: Stock Markets, Business News, Financials, Earnings - CNBC
If you thought paper money was near extinction, Brink's, the largest cash management company in the world, proves you wrong, Jim Cramer said.
But Brink's, which does everything from transporting valuable items in armored vehicles to managing ATMs, could be helped by one unexpected but growing trend: marijuana legalization.
"Brink's isn't really involved in the pot industry per se, but because none of these new dispensaries can open bank accounts thanks to federal law, they're all hiring tons of armored cars to protect their money. Like it or not, marijuana is a cash business," the "Mad Money" host said.
And while the company has many other growth drivers going for it, like its new smart safe initiative, CompuSafe, which counts your money as you put it in, and its cost-cutting migration to the cloud, a foray into pot could send the stock even higher.
"Even if Brink's isn't trying to capture the marijuana market share directly, there are only so many armored trucks in this country, and when demand for them surges from one particular industry, you better believe that's going to help with pricing across the board. This is a pot play!" Cramer said. "Brink's has worked a remarkable transformation, and despite all the hand-wringing about the death of king cash, this stock seems to have a lot more room to run, especially as states legalize pot."
News Moderator: Ron Strider 420 MAGAZINE ®
Full Article: Cramer Remix: How the legalization of marijuana could give Brink's a boost
Author: Elizabeth Gurdus
Contact: Ask a Question
Photo Credit: Getty Images
Website: Stock Markets, Business News, Financials, Earnings - CNBC
