Now is the right time to invest in weed and I don’t mean “buy out your guy” I mean invest in the cannabis industry.
The US cannabis industry “will pump up to $44 billion (£31 billion) annually into the country’s economy by 2020, if current business and legalisation trends continue” the report says. This is more than double the $14-17 billion impact it currently has.
Marijuana sales themselves will grow to $3.5-$4.3 billion in 2016, up more than 20% from last year, “and that’s just the tip of the iceberg,” the report adds.
If you’re not a “words” person, and would rather stare at a colorful chart, here’s one that shows the projected sales growth of marijuana in the US and the broader economic impact of those sales.
“We’re witnessing the emergence of a business that is about to become a massive economic force,” claimed Chris Walsh, the managing editor of Marijuana Business Daily. Frontier Financials Group co-founder Rick Gilchrist told CNBC that those interested should invest “in ancillary businesses that don’t directly involve the marijuana plant and can operate anywhere legally.”
Go bullish on bud, bros.
[via Business Insider]