--- title: Unlocking Value In The Cannabis Market Jim Hagedorn Has A Strategy For Navigating Legalization - Boyar Value Group description: "Even after a substantial correction in cannabis share prices, many of the available opportunities in that space are still selling at sky-high multiples based on traditional valuation metrics.We’ve previously highlighted situations where value investors are able to invest alongside expert capital allocators. Doing so helps investors take advantage of these experts’ foresight and strategic positioning. If you’re a value investor looking for an entry into the cannabis market, you might want to look toward Jim Hagedorn, who serves as the CEO of Scotts Miracle-Gro SMG +0.4% (SMG), as a guide. Jim has built Scotts into a juggernaut in the lawn and garden industry with iconic brands (Scotts, Miracle-Gro, etc.). He has also been quietly assembling a formidable cannabis business, which investors can essentially acquire for free: At the current SMG stock price, investors are purchasing shares in Scotts Miracle-Gro’s traditional gardening business at a fair valuation and receiving the fast-growing cannabis business at virtually zero cost." image: https://www.blog.boyarvaluegroup.com/hubfs/Imported_Blog_Media/Podcast-thumbnail.jpg --- [Skip to content](https://www.blog.boyarvaluegroup.com/boyar-value-group-blog/newsroom/unlocking-value-in-the-cannabis-market-jim-hagedorn-has-a-strategy-for-navigating-legalization#main-content) [![logo](https://www.blog.boyarvaluegroup.com/hs-fs/hubfs/Boyar_October2018%20Theme/Images/logo.png?width=110&height=70&name=logo.png "logo")](https://boyarvaluegroup.com) [![logo-inverted](https://f.hubspotusercontent10.net/hubfs/2333817/GiantFocal_Marketplace/March/logos/logo-inverted.svg "logo-inverted")](https://boyarvaluegroup.com) - Boyar Family of Companies #### Boyar Family of Companies Whether uncovering a new idea for our research subscribers, managing pension funds, or handling accounts for individual investors, our research-driven insights help both professional and individual investors pursue their investment goals.  [![Boyar\_Logo\_Asset\_Management-May-31-2023-08-39-05-3251-AM](https://www.blog.boyarvaluegroup.com/hs-fs/hubfs/Boyar_Logo_Asset_Management-May-31-2023-08-39-05-3251-AM.png?width=539&height=200&name=Boyar_Logo_Asset_Management-May-31-2023-08-39-05-3251-AM.png)](https://www.boyarassetmanagement.com/) Boyar Asset Management focuses on investing in the equity securities of intrinsically undervalued companies. 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The momentum behind areas poised for rapid growth—say, artificial intelligence, electric cars or battery technology—typically means a higher valuation than a value investor can justify. Cannabis stocks are no exception. Even after a substantial correction in cannabis share prices, many of the available opportunities in that space are still selling at sky-high multiples based on traditional valuation metrics. We’ve previously highlighted situations where value investors are able to [invest alongside expert capital allocators](https://www.forbes.com/sites/jonathanboyar/2021/02/09/from-discovery-to-coke-companies-taking-the-long-term-view-to-create-shareholder-value/?sh=1ebbcadb756d). Doing so helps investors take advantage of these experts’ foresight and strategic positioning. If you’re a value investor looking for an entry into the cannabis market, you might want to look toward Jim Hagedorn, who serves as the CEO of Scotts Miracle-Gro [SMG](https://www.forbes.com/companies/scotts-miracle-gro) [+0.4%](https://www.forbes.com/companies/scotts-miracle-gro) (SMG), as a guide. Jim has built Scotts into a juggernaut in the lawn and garden industry with iconic brands (Scotts, Miracle-Gro, etc.). He has also been quietly assembling a formidable cannabis business, which investors can essentially acquire for free: At the current SMG stock price, investors are purchasing shares in Scotts Miracle-Gro’s traditional gardening business at a fair valuation and receiving the fast-growing cannabis business at virtually zero cost. ***[Click Here To Read The Full Article](https://www.forbes.com/sites/jonathanboyar/2022/01/06/unlocking-value-in-the-cannabis-market-jim-hagedorn-has-a-strategy-for-navigating-legalization/?sh=2e428c187e03)*** [Newsroom](https://www.blog.boyarvaluegroup.com/boyar-value-group-blog/tag/newsroom) [Jul 21, 2026 "I'll Take Manhattan": How John Catsimatidis Built a $4 Billion Empire](https://www.blog.boyarvaluegroup.com/boyar-value-group-blog/john-catsimatidis) [Jul 14, 2026 The Boyar Value Group’s 2nd Quarter Letter 2026](https://www.blog.boyarvaluegroup.com/boyar-value-group-blog/the-boyar-value-groups-2nd-quarter-letter-2026) [Sep 4, 2026 Jonathan Boyar Discusses Uber, MSG Sports, Cooper, and Scotts Miracle-Gro on CNBC's Closing Bell Overtime](https://www.blog.boyarvaluegroup.com/boyar-value-group-blog/jonathan-boyar-discusses-uber-msg-sports-cooper-and-scotts-miracle-gro-on-cnbcs-closing-bell-overtime) [Previous This Home-Shopping Preferred Stock Offers a 7% Yield](https://www.blog.boyarvaluegroup.com/boyar-value-group-blog/newsroom/this-home-shopping-preferred-stock-offers-a-7-yield) [Next Unlocking Value In The Cannabis Market Jim Hagedorn Has A Strategy For Navigating Legalization](https://www.blog.boyarvaluegroup.com/boyar-value-group-blog/unlocking-value-in-the-cannabis-market-jim-hagedorn-has-a-strategy-for-navigating-legalization) ![website footer logo](https://www.blog.boyarvaluegroup.com/hubfs/website%20footer%20logo.webp) Since 1975 the Boyar family of companies has focused on creating value for our clients — by seeking out and investing in companies whose intrinsic value significantly exceeds that of its current market price. ##### Social Links ![facebook](https://www.blog.boyarvaluegroup.com/hubfs/facebook.webp) ### Facebook ![linkedin](https://www.blog.boyarvaluegroup.com/hubfs/linkedin.webp) ### Linkedin ![twitter](https://www.blog.boyarvaluegroup.com/hubfs/twitter.webp) ### Twitter ##### Contact us ![email](https://www.blog.boyarvaluegroup.com/hubfs/email.webp) ### info@boyarvaluegroup.com [mailto:info@boyarvaluegroup.com](mailto:info@boyarvaluegroup.com) ![phone](https://www.blog.boyarvaluegroup.com/hubfs/phone.webp) ### (212) 995-8300 ![map](https://www.blog.boyarvaluegroup.com/hubfs/map.webp) ### 667 Madison Avenue, 5th Floor New York, NY 10065 ##### Newsletter [Subscribe To Our Substack](https://boyarresearch.substack.com/) © 2026 Boyar's Intrinsic Value Research LLC. All rights reserved. | [Terms of Use & Legal Information](https://boyarvaluegroup-4595129.hs-sites.com/terms-of-use-legal-information) ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "dateModified" : "2024-10-01", "datePublished" : "2024-10-01", "headline" : "Unlocking Value In The Cannabis Market Jim Hagedorn Has A Strategy For Navigating Legalization", "image" : [ "https://4595129.fs1.hubspotusercontent-na1.net/hubfs/4595129/Imported_Blog_Media/Podcast-thumbnail.jpg" ], "mainEntityOfPage" : { "@id" : "https://www.blog.boyarvaluegroup.com/boyar-value-group-blog/newsroom/unlocking-value-in-the-cannabis-market-jim-hagedorn-has-a-strategy-for-navigating-legalization", "@type" : "WebPage" } } ``` ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Jonathan Boyar", "url" : "https://www.blog.boyarvaluegroup.com/boyar-value-group-blog/author/jonathan-boyar" }, "dateModified" : "2023-06-21T13:55:11.883Z", "datePublished" : "2022-01-06T15:19:00.000Z", "headline" : "Unlocking Value In The Cannabis Market Jim Hagedorn Has A Strategy For Navigating Legalization - Boyar Value Group", "image" : [ "https://www.blog.boyarvaluegroup.com/hubfs/Imported_Blog_Media/Podcast-thumbnail.jpg" ], "mainEntityOfPage" : { "@id" : "https://www.blog.boyarvaluegroup.com/boyar-value-group-blog/newsroom/unlocking-value-in-the-cannabis-market-jim-hagedorn-has-a-strategy-for-navigating-legalization", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://www.blog.boyarvaluegroup.com/hubfs/Boyar_Logo_Value_Group-1.png" }, "name" : "Boyar Value Group" } } ```