The marijuana market has expanded from an illegal consumer pastime to one with growing investment opportunities.
According to Pew Research, 52 percent of people say marijuana should be legalized, compared to 12 percent in 1969. Expenses are adding up on petitioning efforts on the state level. Almost $145,000 has been spent on lobbying in Colorado this fiscal year, for example, according to an analysis of data from the secretary of state done by a Colorado newspaper. And according to marijuana industry consensus, it’s estimated that it will cost $10 million in order for California to fully legalize marijuana.
Commercial #$%$ sales are estimated at $1.5 billion per year but are rapidly growing, according to #$%$ Business Daily. Looking forward, projected sales are $3 billion in 2014 and $6 billion in 2016.
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“If you take the whole industry, not just medical but the entire marijuana market in the U.S., you’re probably looking at $40 billion. Some estimates have it as high as $100 or $120 billion,” said founder and CEO of Weedmaps, Justin Hartfield. “If you compare it to the wine industry, which is maybe $10 or $20 billion, it’s at least that size and probably much larger.”
Washington and Colorado have fully legalized the drug and 18 states plus the District of Columbia have either decriminalized marijuana or approved the use of #$%$, according to MedicalMarijuana.ProCon.org.
Pew Research said both Republicans and Democrats are divided over legalization. Seventy-three percent of liberals favor legalization, and about half of conservative and moderate Democrats agree.
In the investment space, Medbox (MDBX) and #$%$ Science (CBIS) are two publicly traded companies. Several venture capital funds, such as Ghost Group, ArcView Group and Privateer Holdings are looking to invest in the industry.
Sentiment: Strong Buy
I could only imagine the competition if pot ever became legal. Everyone would be growing it and the good stuff would be flowing over our southern border. You do realize the best stuff is grown in the Central American tropics with very cheap labor.
Sentiment: Strong Sell
people couldn't see an opportunity if it kicked them
in the face, but if a basher changes his tune then the flock
follows, when mjna trades up on new news, like increasing
revenue or changes in legislature they'll
Be rushing back in trying not to miss the opportunity
Sentiment: Strong Buy
Opening a new store between our existing locations in Massachusetts and Maine allows Growlife to better manage inventory and better service the entire coastal corridor of Northern New England
It's been hapening already. The seeds are planted.