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posted by takyon on Thursday June 25 2015, @01:57AM   Printer-friendly
from the cheap-and-legal dept.

Bloomberg reports:

It's been a little over a year since Colorado began allowing stores to sell marijuana for recreational use and the market continues to grow rapidly. But there are clouds (ahem) on the horizon.

Nicholas Colas and his team at Convergex, a global brokerage company based in New York, surveyed a number of marijuana stores in Colorado last week to get a better picture of the state of the nascent market.

What they found was that prices are declining faster than some had expected, while the number of people visiting the stores has increased.

Here's more from the note:

Since last June, the average price of an 1/8th ounce of recreational cannabis has dropped from $50-$70 to $30-$45 currently; an ounce now sells for between $250 and $300 on average compared to $300-$400 last year. More competition and expansion of grow facilities contributed to this price decline, but it is also a natural result for any maturing industry as dispensaries try to find the market's equilibrium price.

Even with the declining prices, sales are still exceeding those of last year for recreational marijuana.

Public support for the legalization of marijuana has ballooned recently, with Colorado leading the way as a test case for what drug legalization could look like. These are some of the first statistics to show how the market there is developing.


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  • (Score: 0) by Anonymous Coward on Thursday June 25 2015, @02:59AM

    by Anonymous Coward on Thursday June 25 2015, @02:59AM (#200754)

    A dime bag was $10 and 2 fingers wide, a quarter was $25 (0.25oz), and zig-zags were on the checkout counter at 7/11.

  • (Score: 2) by Snotnose on Thursday June 25 2015, @03:38AM

    by Snotnose (1623) on Thursday June 25 2015, @03:38AM (#200772)

    Last Thanksgiving I cooked a turkey. I was talking to a friend, we were going to meet at the Parade of Lights (San Diego boat show), she mentioned she missed having turkey. I offered to bring her some. Long story short, we ended up in an obscure parking lot at the bay (she was in a sailing club), in the dark of a 7PM December evening. I opened my trunk, pulled out a baggie, and said "Here's a 6 finger bag for your habit". She exclaimed "snotnose!", then busted up laughing.

    --
    Why shouldn't we judge a book by it's cover? It's got the author, title, and a summary of what the book's about.
    • (Score: 0) by Anonymous Coward on Thursday June 25 2015, @02:43PM

      by Anonymous Coward on Thursday June 25 2015, @02:43PM (#200979)

      I could smell that smoking turkey all the way out to El Cajon.

  • (Score: 1) by Type44Q on Thursday June 25 2015, @03:35PM

    by Type44Q (4347) on Thursday June 25 2015, @03:35PM (#201021)

    A dime bag was $10 and 2 fingers wide, a quarter was $25 (0.25oz), and zig-zags were on the checkout counter at 7/11.

    And it was (at best) 5% THC, while this shit routinely clocks-in between 17% and 25%... and here in Colorado, virtually every gas station sells high-quality glassware, often even cheaper than the smokeshops. :)