Medical Marijuana is Changing the World
While driving into work this morning, I noticed something really interesting...
I noticed that in my seven-mile drive, there were two billboards advertising two newly opened marijuana dispensary. For clarity’s sake, both billboards were for two different dispensaries. All I could think was how I never thought I’d see an advertisement for a place that sells marijuana legally. But here we are.
These types of advertisements keep popping up. And they’re popping up because marijuana dispensaries are being established throughout the country at what seems like a really fast rate.
I live in Baltimore, Maryland. So let me just use my home state as a prime example. As of July 3, 2018, the Maryland Medical Cannabis Commission (MMCC) has issued medical cannabis dispensary pre-approvals to 102 companies. That’s in addition to the 22 dispensary licenses that have already been awarded. If you’re curious, the complete list of all the licensed dispensaries can be found here.
When I first started hearing about medical cannabis and the investing opportunities with marijuana, I wasn’t entirely surprised. However, I am surprised how quickly this industry has grown in the past few years. The marijuana industry has picked up some serious steam.
According to the MMCC, revenue from dispensaries hit nearly $9 million in June. That’s up from $2.6 million in January.
In December 2017, dispensary sales were at $1,802,626, and as of June 2018, dispensary sales were at $8,728,503. An increase of over a million in sales each month is substantial growth for an industry that is so new. It proves that this industry is not only going to stick around; it’s also going to be profitable.
Back in May, there were 27,585 patients who were certified to receive medical marijuana in Maryland. And in just two months (by July 23), that increased by 27% to 35,019 patients.
As the number of patients who are certified to receive medical marijuana increases, so will sales.
Maryland is just one example. Other states are also experiencing the same successes when it comes to medical marijuana. These successes could very well start to spread to other countries...
Medical Marijuana Products Now Legal in the UK
UK legislation on cannabis-based medicines could be shifting...
A recent controversy denied children access to medical marijuana. A series of cases showed that some children used cannabis to control their epileptic seizures, but they weren’t allowed to treat themselves. These situations have become common even throughout the U.S.
In a press release from July 26th, Home Secretary Sajid Javid said:
Recent cases involving sick children made it clear to me that our position on cannabis-related medicinal products was not satisfactory. Following advice from two sets of independent advisers, I have taken the decision to reschedule cannabis-derived products, meaning they will be available on prescription. This will help patients with an exceptional clinical need.
Javid reiterated that this move is not the first step to any type of legalization of cannabis for recreational use for the UK.
However, this is a huge step for the UK. Similar to the U.S., cannabis is a Schedule 1 narcotic in the UK. A Schedule 1 narcotic means there is no therapeutic value, according to the government. However, there is some hope that marijuana will be reclassified as a Schedule 2 narcotic, which means it has the potential for medicinal use.
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The public perception is changing, and in addition to recent scientific and medical journals stating that cannabis has a large amount of medical value, this could be a good way to persuade governments.
We need to get governments to get on board with changing legislations and the classification of cannabis. Only time will tell how much further the UK will be able to change its legislation, but this decision from the Home Secretary is still a victory.
The U.S. has been fighting, and a lot of people are still fighting to adjust legislation for marijuana. And once more laws are passed in favor of cannabis, that will mean more certified medical marijuana patients, which means more medical dispensaries. With more medical dispensaries, there are more products to sell — and that means more money!
It seems like governments can be too bureaucratic for their own good, and a shift in legislation often feels nowhere near. But we have to remember how far we've come in just a few years. If public perception of marijuana continues to change and more evidence about cannabis's medical benefits emerges, we could very well start to see a change even sooner than we expected. When there's change, there's always an investing opportunity waiting for you!
Hear From a Marijuana Investment Expert...
Our resident marijuana investment expert, Jimmy Mengel, has made the claim that you can make 1,000% on medical marijuana stocks next year. Yes, it's a bold claim, but he's yet to let his readers down. His readers have made money on every single pot stock he's closed.
I told you this industry has picked up some serious steam! It's going full force ahead.
Jimmy doesn't just sit behind a computer all day. He takes the initiative to go out and learn more about this growing industry. In fact, he was one of the first to visit Canopy Growth's facilities several years ago. Canopy has gone on to become one of the world's largest weed companies.
I could go on and on about Jimmy's credentials, but I have something even better to offer to our readers: an invitation to a webinar all about medical marijuana. Jimmy will be hosting this webinar, letting you know all about his marijuana picks and how you can profit from the medical marijuana explosion that's happening right now.
So mark your calendar! The webinar will be happening this Wednesday, August 1st, at 3:00 p.m. (ET).
Don't hesitate! Click here to sign up! Don't forget to provide us with your mobile phone number to receive alerts about the event so you don't miss it!
Until next time,
Monica Savaglia is Wealth Daily’s IPO specialist. With passion and knowledge, she wants to open up the world of IPOs and their long-term potential to everyday investors. She does this through her newsletter IPO Authority, a one-stop resource for everything IPO. She also contributes regularly to the Wealth Daily e-letter. To learn more about Monica, click here.
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