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Home 🌿 Marijuana Business News 🌿 WHY IS NOBODY INVESTING IN NEW YORK'S BRAND-NEW MEDICAL-WEED INDUSTRY? 🌿WHY IS NOBODY INVESTING IN NEW YORK'S BRAND-NEW MEDICAL-WEED INDUSTRY?
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The subscription service is currently unavailable. Please try again later.It turns out the so-called “green rush” that was expected in the wake of New York's legalization of medical marijuana may not be much of a rush after all.
Since the New York State Department of Health in July selected five winning companies to receive the coveted licenses to grow medical cannabis, investors have been scouting opportunities for green. Based on data from other states, cannabis industry consulting firm GreenWave Advisors has predicted that medical marijuana sales in New York could exceed $240 million in the first year. But the state’s heavy restrictions on the medical marijuana program make investment opportunities pale in comparison to places like California or Colorado.
“Most New Yorkers don’t really have that much opportunity to invest in the cannabis industry as far as touching the plant,” says Eddie Miller, CEO ofInvestInCannabis.com, which educates investors about the risks and opportunities in the cannabis...
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