Legal weed is good business. In fact, 30 billion dollars’ worth of good business, as thirty billion is the projected cannabis industry worth by 2020. To put that into perspective, the entire world spends 100 billion dollars on bottled water. That means that the legal cannabis business in the United States would equate to almost one third of the entire bottle water industry in the world. Coffee in America is currently a 30-billion-dollar-a year industry. And, already in Denver alone, there are three times as many medicinal marijuana dispensaries than there are Starbucks and McDonald’s combined. So this is big shit, right? Yes, yes it is.
A play on the “Gold Rush” out west when this country wasn’t even a country yet, there is now a “Green Rush” of people looking to cash in on America’s newest cash crop. The term “Green Rush” not only refers to the color of the plant, but also to the vast amounts of money that can be made by investing in the marijuana market. In the first four months after marijuana legalization took place, Colorado saw nearly 22 million in state taxes and fees. In the first nine months after legalization, recreational marijuana generated 207 million in sales. And, this past August alone, recreational marijuana sales totaled approximately 34.1 million dollars. With the legalization of weed in both Alaska and Oregon, as well as Washington DC, the potential for national cannabis revenue is mind boggling.
With Thanksgiving comes Black Friday, and an interesting phenomenon is happening out west. States like Colorado and Washington are having what’s being called “Green Friday” in the dispensaries and marijuana shops. Much like the major retail stores, marijuana shops are looking to cash in on the holiday shopping chaos. For the first time ever, marijuana can legally be given as a gift, and shop owners are expecting a high turnout. Grass Station, a marijuana shop in Colorado, will be opening its doors at 8am on Green Friday and is offering some pretty tempting specials, including $1 joints, $50 ounces, and half-priced vape pen cartridges. Some shops are also marketing towards how stressful the holidays can be by offering up deals to help people relax and unwind after a stressful day.
Here, Take My Money!
So, if you’re super unlucky and don’t live in the few states that allow recreational marijuana use this year — and moving to Colorado to open up a shop isn’t feasible for you — there are still other ways you too can make money off of legal weed. There are plenty of emerging medicinal companies that are publicly traded, in which you can buy stock.
Medical Marijuana (MJNA) owns various cannabis companies, including CanChew and PhytoSphere Systems. The company has seen some ups and downs in the past year, but based on the midterm-election legalization wins, the stock has high potential to skyrocket.
Medbox (MDBX) is a company that has a Redbox-like distribution plan for medicinal marijuana, where the patient scans their prescription, as well as do a fingerprint analysis, in order to get the marijuana dispensed to them. It sounds like a lot, but imagine the convenience of having these boxes outside of supermarkets and pharmacies everywhere. With almost half of the country recognizing the legal benefits of medicinal marijuana, Medbox is an up-and-comer for the cannabis industry.
Advanced Cannabis Solutions (CANN) leases growing space and related facilities to licensed marijuana business operators. Laws in Colorado require that the majority of the cannabis sold in shops be “home grown,” so a company that finds and leases these spaces is a necessity in the domestic marijuana industry. With the legalization in Alaska, Oregon, and DC, a lot of people are going to be in need of Advanced Cannabis Solution’s services.
It is important to note that the projected worth of the cannabis industry went from 20 billion to 30 billion in roughly a weeks’ time. That means the projected profits grew by 50%, which is insane. We still have 5 years to go before this projection is supposed to become reality, and there are still a lot of states looking to legalize recreational marijuana within the next few years, New York included. Stay tuned to Stoned Girls for all of the updates and changes, as the cannabis industry grows like a weed.