People are not investing on legal weed companies because they are making a lot of money, I think people are investing because there is a big high potential in the future of it.
Today it may not worth this much, maybe today it is overvalued a lot, however they believe that the first weed companies that are getting bigger each day can worth A LOT in the future, 10 years from now these companies will worth insane amounts and they are investing into that potential and not today's prices. I am not invested in them but if I ever did I would definitely invest for what it could be and not for what it is right now.