Are Marijuana Prices About to Plummet?
The marijuana industry could be a giant in the making.
According to a 2014 report from GreenWave Advisors, a research firm for the up-and-coming marijuana industry, if all states and the federal government were to legalize recreational and medicinal marijuana, it would be a $35 billion industry by 2020. Even if this scenario seems unlikely, GreenWave predicts that by 2020 the marijuana industry will expand to become a $21 billion market, with 37 states in total legalizing the product for medicinal purposes, and 12 states legalizing marijuana for recreational, adult use.
But, despite all this promise, the marijuana industry is nothing if not nascent and unproven.
Are marijuana prices primed to plummet?
A new report issued this past week from research firm Convergex, and as noted by Bloomberg, highlights a number of interesting price and traffic comparisons on a year-over-year basis when it comes to Colorado's marijuana industry.
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