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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.
Original Submission
(Score: 3, Interesting) by Pslytely Psycho on Thursday June 25 2015, @03:16AM
"I doubt it'll ever be legalised."
I give it 5 years until legalization at the national level, no more than 10. After all, they legalized it in the nations capitol, so senators can now get high, but their constituents can't.
It's already too late to roll it back, states get addicted to new revenue streams really fast. And it is a lot of money and a lot of jobs. Politicians will not fare well trying to re-ban it. Taking jobs overtly like that makes them look bad. And then there's the money, a metric shit-ton of money. The language of politics.
Alex Jones lawyer inspires new TV series: CSI Moron Division.
(Score: 2, Funny) by Gorb on Thursday June 25 2015, @03:53AM
a metric shit-ton of money
At least we're using metrics.
Is it wrong to have sexual fantasies about cartoon characters?
(Score: 4, Funny) by Pslytely Psycho on Thursday June 25 2015, @10:13AM
Dealing is how we teach the metric system in America....every dealer can compute metric to imperial, at least up to a kilo. After that it's a 'metric shit ton.'
Alex Jones lawyer inspires new TV series: CSI Moron Division.
(Score: 2) by Hairyfeet on Thursday June 25 2015, @08:47AM
You obviously ain't never been to the bible belt son, as anything that a peasant can enjoy? Has GOT to be "the work of the Debil!(TM)" and therefor MUST be blocked at all cost. I live in AR and even though we have casinos just across the border in 2 different directions? It took us the better part of a decade JUST to get a lotto....no gambling, no casinos, JUST a lotto took a decade. At the end of the day the only way we got it is a congressman told Oaklawn (our horse racing track) that if they helped push it over they would allow onsite sports betting and slots....you should have seen how quickly the airwaves were filled with "Tens of millions of Arkansas money is going to MS, shouldn't AR money stay in AR?"
So yeah...not gonna happen south of the Mason/Dixon line, sorry....well maybe FLA because they aren't really bible belt, more east coast.
ACs are never seen so don't bother. Always ready to show SJWs for the racists they are.
(Score: 3, Funny) by GreatAuntAnesthesia on Thursday June 25 2015, @09:04AM
> So yeah...not gonna happen south of the Mason/Dixon line,
So what you're saying is, it's time for American Civil War II! You guys love wars, right? This will be cool! All the southerners can have their flag back for a while, the North can try out all their drones and stuff, if the air force splits then they can have all the high-tech dogfights they haven't had a chance to do since... well, since ever. Everyone can play with guns all day long, and when it's all over Hollywood will have a new source for gritty heroic war films with slow motion explosions and tough guy military heroes played by Bruce Willis pressed reluctantly back into service.
(Score: 2) by Pslytely Psycho on Thursday June 25 2015, @09:59AM
I thought Florida was the 'Deep North' anyway?
Been in the Bible Belt many a time,* but never say never, it just might take another decade after the Fed legalizes it. That IMO will occur at about the 40% mark for states legalizing it. It's still a win, never thought I would see it in my lifetime, (jailed twice in the seventies at NORML rallies) so I see ANY legalization as a win.
And even south of the Mason/Dixon line they like money. And there is lots of that. And all of our politicians like money, even more than they like Jesus.
*OTR (Over the road) truck driver for the last decade. Been all over the lower 48.
Alex Jones lawyer inspires new TV series: CSI Moron Division.
(Score: 3, Touché) by Gaaark on Thursday June 25 2015, @01:02PM
You drive OVER the road?
Man, you ARE high! Try driving ON the road! :-!
--- Please remind me if I haven't been civil to you: I'm channeling MDC. ---Gaaark 2.0 ---
(Score: 2) by Pslytely Psycho on Thursday June 25 2015, @01:32PM
Yep, lots less traffic!
(the phraseology always struck me as a little odd as well.)
Alex Jones lawyer inspires new TV series: CSI Moron Division.
(Score: 0) by Anonymous Coward on Thursday June 25 2015, @01:59PM
You could marry lil girls in Tenn till the 1930s.
(last one married legally was 9 yrs old)
Will they bring that back?
(Score: 2) by Gaaark on Thursday June 25 2015, @02:57PM
Hey there, Uncle Dad! Wunnerd wheres you gots to!
--- Please remind me if I haven't been civil to you: I'm channeling MDC. ---Gaaark 2.0 ---
(Score: 2) by mcgrew on Thursday June 25 2015, @05:55PM
I think your bible belt bretheren should stop thumping their bibles and start reading them. Pot use is older than the bible, older than history, yet the bible doesn't mention it after Genesis 1:29 [mcgrewbooks.com], "And God said, Behold, I have given you every herb bearing seed, which is upon the face of all the earth, and every tree, in the which is the fruit of a tree yielding seed; to you it shall be for meat."
Don't forget Kentucky. I've read that its number one cash crop is the illegal herb.
And if "anything that a peasant can enjoy? Has GOT to be 'the work of the Debil!(TM)' and therefor MUST be blocked at all cost" then why is alcohol so abundant down there?
mcgrewbooks.com mcgrew.info nooze.org
(Score: 2) by Joe Desertrat on Friday June 26 2015, @01:01AM
And if "anything that a peasant can enjoy? Has GOT to be 'the work of the Debil!(TM)' and therefor MUST be blocked at all cost" then why is alcohol so abundant down there?
It's called the Bible Belt for a reason. Religion is big business down there, and it must have its demons to fight in order to bring in the cash.
(Score: 2) by DeathMonkey on Thursday June 25 2015, @05:20PM
I give it 5 years until legalization at the national level, no more than 10.
Legalize at the national level and let the individual States decide for themselves. It amuses me to no end that it will be the Republicans that oppose this plan.
(Score: 2) by DeathMonkey on Thursday June 25 2015, @05:27PM
Just for the record, Chris Christie is already campaigning on this platform:
Chris Christie: If I'm President, I'll Crack Down on Colorado Marijuana Laws [westword.com]