In these dark economic times, it appears the nation’s bloodshot eyes now look to the sky, preferably at night, for answers that may never come, but will eventually.
Unseen since the Depression-era days of soup lines and 70s oil shortages, Colorado is poised for a long winter of paying upwards around $70 an eighth, or $400 an ounce. And that’s before taxes!
In a new market unable to keep up with high demand, legal marijuana users are now being forced to pay a little less than black market prices for their regulated herbs and edibles.
Economists are baffled as to what will happen next, with some buzz-killing studies indicating prices will remain at dangerously reasonable levels until who-knows-when and will continue to flummox potential buyers and sellers in a nation engaged in a perilous fight to party. Some are saying otherwise:
Phyllis Resnick, lead economist at Colorado State’s Colorado Futures Center, said she also expects prices to lower.
“My sense is that competition will eventually arise … and costs will fall below what the black market wants,” she said.
This uncertainty will not stand, man!
As April 20 approaches, the market is already anticipating huge growth in the industry, with legal marijuana-related stocks famished for more of that sweet sativa.
Mediswipe — Up!
Greengro Technologies — Up!
GW Pharmaceuticals — Up!
Med Box — Up!
This dramatic market movement has even gotten the attention of the Financial Industry Regulatory Authority– “the largest independent regulator for all securities firms doing business in the U.S.”
In August, FINRA issued a warning over possible scams involving marijuana stocks, including trader “pump and dump” schemes, and companies which advertise big gains but have little real income or experience in the industry.
“One low-priced stock now claiming to be in the medical marijuana business has had four name changes in the past 10 years,” FINRA said, while another had just changed from ostensibly being in the coffee industry.
Legal marijuana shortages, price gouging, possible market manipulation?
