"The Green Fund" Hedge Fund- The Best Marijuana
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NEW YORK (MainStreet) — Colorado's new open market for marijuana
for anyone of legal age, has decidedly changed the balance of a previously hypothetical question: what would happen to the economy, crime statistics, tax base and even employment if the plant were regulated, legally sold and taxed?
Sales figures from Colorado in the first month of legal sales alone, show that financial impact will probably make the marijuana market compete if not dwarf the amount spent on alcohol by Colorado consumers in its first year out of the gate. Approximately 37 marijuana stores across the state of Colorado estimated close to $5 million in sales during their first week in business. The 30 day figures saw a whopping $14 million in profit from the same and generated $2 million in tax revenue. Sales have been so brisk, they are now on track to reach as much as $1 billion by the end of this year just in Colorado alone.
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What this will mean for bank regulation is an issue now of concern if not ongoing discussions by the federal Justice Department with financial establishments in both Colorado and Washington state, expected to follow Colorado's lead in legalizing recreational marijuana sales later in the summer of 2014.
The business climate, although flying high at the moment, still has much ground to cover even as the marijuana space gains strength in motion and organizes itself along the lines of a traditional business lobby and presence.
The uncertain legal environment, if not novelty of legal sales, however, has predictably had an impact on the first joyous days of the green rush, although prices are also widely expected to drop, if not potentially the high sales tax levy on the same. The tax structure will remain in place, however, according to state legislators instrumental in crafting them, until there is a better understanding of the market.
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