The District of Columbia legalized the use of marijuana last week.
Big news? No.
NEW news? No.
27 states have done virtually the same thing.
But this is news that makes bankers swoon.
The make-marijuana-legal bill was approved by DC residents over the objections of the fed gov’t. When the legal smoke cleared (see what I did there?) it was followed THE NEXT DAY by DC’s first marijuana expo.
The. Next. Day.
Legal weed is good business.
The inside-the-beltway marijuana expo was called “Cannabis Academy” and The Washington Post says it was perfectly timed.
Put your money where your bong is.
Best headline of the day?
“DC Pot Expo Less Cheech and Chong More Berkshire Hathaway”
Pop culture meets Wall Street Journal. You go WaPo.
Big doobies are big biz.
Wait. Does anybody under 70 even say “doobie”?
The point is that after legalizing marijuana, states be rollin in the dough.
Pot. Weed. Dope. Marijuana. Reefer madness it ain’t.
Not buyin’ it?
Jump back cuz the haze filled state of Colorado just finished a banner year with a new banner crop of marijuana. Reuters reports:
In its first annual report, the Colorado Department of Revenue’s Marijuana Enforcement Division said 109,578 pounds (49.7 tons) of medical marijuana flowers were sold in 2014, while 38,660 pounds (17.5 tons) were sold on the retail market.
Big biz? Oh hell to the yeah.
The NY Times says;
Welcome to Big Tobacco 2.0. In the emerging marijuana industry, potent edibles in the form of colorfully packaged cookies, candies, sodas and brownies are being advertised on the Internet and in mainstream newspapers and magazines across the state.
Someone somewhere said:
“I never thought I’d see more people invest in marijuana than smoke it.”
Maybe Warren Buffett was high.
Legalization has already started in most states tho sometimes it’s called “decriminalization.” Call it what you want, analysts say marijuana prospects look promising. Financially.
So smoke ’em if you got ’em. Invest in it if you don’t
ICYMI: to celebrate the DC pot legalization restaurant chain Cava Mezza offered free chicken at 4:20 and billed themselves as “the second best joint in town.”
Gotta give props where props are due and this gets a big ‘ol marketing tip of the hat.
Well played Cava. Well played.