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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: 1) by Type44Q on Thursday June 25 2015, @03:28PM

    by Type44Q (4347) on Thursday June 25 2015, @03:28PM (#201013)

    $25 eighths at Satorie's last week.

    A chain of stores here in the Denver area routinely sells discounted recreational eighths for $13 plus tax ($15.70) and recreational grams of "wax" (think hash; 77 to 89% THC) for $25 ($31 w/tax).

  • (Score: 2) by Pslytely Psycho on Thursday June 25 2015, @10:23PM

    by Pslytely Psycho (1218) on Thursday June 25 2015, @10:23PM (#201255)

    Glad to hear the prices have become sane, the article rather sounds like you are all getting screwed.
    They blow out the less pretty 'bottom of the bag' stuff ultra cheap and any excuse for a sale on the better stuff. Pot stores are clean, with large varieties and have daily sales, this is as close to Nirvana as we are likely to get.

    And I just love all the giant pot leaf billboards around town...

    If the goal is to eliminate the black market, it must compete with the black market.

    I love wax, shatter, oil, sigh, only two more days to Shatterday! all concentrates 20% off!

    --
    Alex Jones lawyer inspires new TV series: CSI Moron Division.