The pot industry in Colorado is undergoing a massive makeover as it prepares to begin selling marijuana legally for recreational use under state law. Businesses are ramping up production, and trade associations are cleaning up their image, anticipating what could be a billion-dollar industry.
"The U.S. Drug Enforcement Agency is watching Colorado, but has yet to intervene in a dramatic way. The agency sent letters to some Colorado dispensaries within 1,000 feet of schools, warning them to shut their doors. Some business owners took that as a tacit endorsement of the state’s approach."
A focus on Colorado and it is well known that MJNA is the leader of the pack!
"a billion dollar industry"...and they are just talking about Washington/Colorado.
Colorado sales will increase DRAMATICALLY when recreational users are allowed into dispensaries as the law saying they can already has passed. I believe they can enter by January or sooner?
The market for MJNA products are greatly increasing within Colorado, Washington state, gaining exposure in other medical states (read the martha vineyard article on their expansion there), and internationally!
Strong buy and HOLD!
“I tend to stay as conservative as possible on as much as possible,” Kelly said.
More than 500 businesses are already selling #$%$, and many are now preparing to burst into the new marketplace for recreational pot. These dispensaries sold $186 million worth of #$%$ for medical purposes in the last fiscal year, according to tax receipts. The Colorado Legislative Council predicts that figure could rise to $920 million next year once the new constitutional amendment legalizing recreational sales takes effect. This estimate does not account for the anticipated influx of pot tourists who are expected to arrive in search of a Rocky Mountain high. With steep excise and sales taxes proposed, the industry could be a big revenue booster for the state.
Changing times prompt a question: What is the etiquette on marijuana usage?
Many of the entrepreneurs, like Kelly, have had little previous experience with marijuana. “We’re not those Woodstock hippies who have had secret grows in the mountains for decades,” Kelly said. “We’re business people.”
More in the article. I wish yahoo allowed links...