The Marijuana discussion/showcase thread on Namepros is one of the most read and liveliest conversations on the forum. There was a bit of news out a couple days ago that should have those invested in the niche enthusiastic. I want to put right up front, I own 0 marijuana/hemp related names and have never held any in the past.
The article published on INC.com states that legal marijuana is the fastest growing industry in the U.S. The market grew 74% to $2.7 billion in 2014.
From the article:
Back in 1938, Popular Mechanics ran an article about how cannabis (specifically, hemp) was the new "billion-dollar crop." It may have taken nearly eight decades, but according to a report released this week, the legal cannabis industry is now worth well over twice that.
The report, by ArcView Market Research, the research arm of cannabis-focused angel investor network the ArcView Group, finds that the U.S. cannabis industry has a value of $2.7 billion. That's a 74 percent increase from 2013, making it the fastest-growing industry in the country.
If all 50 states were to legalize sales of recreational marijuana, the market would be larger than the organic food industry, with a value of $36.8 billion, ArcView's "State of Legal Marijuana Markets" report finds.
To date, 23 states have legalized medical marijuana. Colorado and Washington State have legalized recreational cannabis for adults 21 and older. Voters in Oregon, Alaska, and Washington, D.C., approved recreational cannabis as well, but the retail industry is not yet off the ground in Alaska and Oregon, and Congress has banned retail sales in the nation's capital.
Read the full article on INC.com
The article published on INC.com states that legal marijuana is the fastest growing industry in the U.S. The market grew 74% to $2.7 billion in 2014.
From the article:
Back in 1938, Popular Mechanics ran an article about how cannabis (specifically, hemp) was the new "billion-dollar crop." It may have taken nearly eight decades, but according to a report released this week, the legal cannabis industry is now worth well over twice that.
The report, by ArcView Market Research, the research arm of cannabis-focused angel investor network the ArcView Group, finds that the U.S. cannabis industry has a value of $2.7 billion. That's a 74 percent increase from 2013, making it the fastest-growing industry in the country.
If all 50 states were to legalize sales of recreational marijuana, the market would be larger than the organic food industry, with a value of $36.8 billion, ArcView's "State of Legal Marijuana Markets" report finds.
To date, 23 states have legalized medical marijuana. Colorado and Washington State have legalized recreational cannabis for adults 21 and older. Voters in Oregon, Alaska, and Washington, D.C., approved recreational cannabis as well, but the retail industry is not yet off the ground in Alaska and Oregon, and Congress has banned retail sales in the nation's capital.
Read the full article on INC.com
