The wolf is one of the leading experts on investing in the cannabis industry.
He started off anonymously giving investment advice through social media channels like Twitter, but was outed by the end of 2014. Now he’s known as one of the most successful investors in cannabis stocks, already a millionaire from his investments and building a 24k-strong-and-growing social media following, known as affectionately as the Wolf Pack.
Numbers vary, but one thing is for sure: the Wolf and his followers are making a big impact by successfully investing in the marijuana industry.
Partying with the Wolf
Spatafora and I originally met last November in Las Vegas during the Marijuana Business Conference at the Rio right before I was sent to Tent City. We hung out and partied a bit, but then I was taken off the map for a minute. Last week in Los Angeles, we reconnected.
The Wolf very much lives up to his namesake, living a fast-paced lifestyle not unlike what you’ve seen in the Wolf of Wall Street movie. He has expensive tastes and loves a good time. In Las Vegas, this meant high-stakes poker tables, expensive liquor, and fast cars. In Los Angeles this meant much of the same, along with high-end parties with influential people in Beverly Hills during Emmy weekend.
When you’re in the presence of The Wolf of Weed Street, you’re very much aware that you’re in the presence of intelligence, confidence, and wealth. We come from the same place both literally – he’s a UofA alum – and figuratively – I make my living online. It’s only a matter of time before my association with Spatafora leads to something bigger, especially since he’s consistently scooping Jim Cramer in this sector.
The Cannabis Penny Stock Trade
Due to it currently being federally illegal, the cannabis stock trade is part of what’s popularly known as the penny stock trade. Fortunes are routinely lost/made in this sector as companies are raided and shut down seemingly out of nowhere. The high-risk environment makes investing only for the bold.
The difference between Jason Spatafora and Jordan Belfort (The Wolf of Wall Street) is that Spatafora invests in these companies himself. While he does have an auxiliary digital media business, it’s no different than what Jim Cramer is doing with his The Street brand (which I contribute to).
Whereas Belfort used high-pressure sales techniques to dupe investors, Spatafora simply makes cannabis information available to anyone who wants to learn about the investment side. He describes his own investments and keeps an eye on business deals happening in the cannabis industry.
Not all cannabis stocks involve cannabis, and much of The Wolf’s fortune comes from successfully investing in auxiliary businesses. Professionals in every industry rebranded their businesses to serve the cannabis community, and it’s paying off in a big way, especially for investors who successfully read the pump-and-dump messages and buy/sell at the right times to reap a profit instead of losing everything.
A Genuinely Nice Guy
Despite his rising star, Jason Spatafora is still a nice guy deep down. He can be a bit pompous and over-the-top sometimes, but he has every reason to be. The man got rich by successfully researching and picking winners in the cannabis stock trade. He has his finger on the pulse of one of the most lucrative investment bubbles we’ve seen since the tech sector and mortgage-backed-securities.
Just recently, Spatafora went through a hostile takeover of his own company to weed out the dead weight. In this business, a strong team is necessary, and as fast as The Wolf moves, there’s no room for mistakes. To succeed you must learn to smile as you kill.
It doesn’t make a difference to The Wolf of Weed Street whether or not you invest. He’s going to do it anyway and continue getting richer in the process. If you watch his moves and listen to his advice, you’ll have the tools to do the same.
Brian Penny is a former operations manager and business analyst at Bank of America turned whistleblower, troll, and freelance writer. His work has appeared on Huffington Post, Fast Company, BBC, Hardcore Droid, High Times, and The Street.