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Cannabis sales top 3 million dollars in 1 day
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 sitdownstandup  04 Jan 20 2.09pm |
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Made legal in Illinois, USA since New year's day and sales topped 3 million dollars after 1st day. How long before it becomes legal everywhere? Edited by sitdownstandup (04 Jan 2020 4.03pm)
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Badger11  Beckenham 04 Jan 20 2.31pm |
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This mirrors what happened in Canada. Huge demand to start with but so far the expected fall in illegal sales is insignificant as many people still prefer their local weed dealer to the legal shop. Far too early to see what is really going on but this is what has been reported so far. As for the UK personally I am against it but if the evidence says otherwise so be it. Anyway I think we can wait for 5 years, by then there should be ample evidence from Canada and certain US states as to the outcome.
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| Daz.CPFC Bromley 04 Jan 20 3.20pm |
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Originally posted by Badger11
This mirrors what happened in Canada. Huge demand to start with but so far the expected fall in illegal sales is insignificant as many people still prefer their local weed dealer to the legal shop. Far too early to see what is really going on but this is what has been reported so far. As for the UK personally I am against it but if the evidence says otherwise so be it. Anyway I think we can wait for 5 years, by then there should be ample evidence from Canada and certain US states as to the outcome.
Totally misinformed
Edited by Daz.CPFC (04 Jan 2020 3.22pm)
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| Azerbaijan Eagle 04 Jan 20 4.18pm |
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Daz, I have read the same thing - that people in Canada are still using their old dealer, not in the press but stockmarket explanations as to why the boom hasn't happened there. It isn't because people don't want to buy legal products, it is just that they can't buy them easily - you have to travel to the store to buy the legal stuff. In Ontario for example they have limited the licences to (I think) 24 "shops" and this therefore means that people have to really travel some distance to buy - so they just keep on using the bloke who always supplied - old habits die hard. Ontario (which is the biggest Canadian market I think) will issue more licences this year that will make it more accessible to everyone. I am trying to find the info where i read that, but as I have shares in a number of Cannabis Companies waiting for the States to legalise it nationally for recreational use and not just medical (and for all the States to do so anyway) I follow this - not too closely as it may never happen of course, but if it does then there should be a big bounce in the value of these companies. Coors (or the company that owns the Coors Beer brand) have a 38% stake in Canopy Growth - so an interesting time to own shares in Cannabis stocks. etc Originally posted by Daz.CPFC
Totally misinformed
Edited by Daz.CPFC (04 Jan 2020 3.22pm)
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| Badger11 Beckenham 04 Jan 20 4.28pm |
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Originally posted by Azerbaijan Eagle
Daz, I have read the same thing - that people in Canada are still using their old dealer, not in the press but stockmarket explanations as to why the boom hasn't happened there. It isn't because people don't want to buy legal products, it is just that they can't buy them easily - you have to travel to the store to buy the legal stuff. In Ontario for example they have limited the licences to (I think) 24 "shops" and this therefore means that people have to really travel some distance to buy - so they just keep on using the bloke who always supplied - old habits die hard. Ontario (which is the biggest Canadian market I think) will issue more licences this year that will make it more accessible to everyone. I am trying to find the info where i read that, but as I have shares in a number of Cannabis Companies waiting for the States to legalise it nationally for recreational use and not just medical (and for all the States to do so anyway) I follow this - not too closely as it may never happen of course, but if it does then there should be a big bounce in the value of these companies. Coors (or the company that owns the Coors Beer brand) have a 38% stake in Canopy Growth - so an interesting time to own shares in Cannabis stocks. etc Thank you it may have been the same article. As I stated in my post it is too early to make firm conclusions about Canada but that is one observation that researchers have noted. Over time it maybe that new clients prefer to go to a store but their does seem to be some loyalty to the local dealer how far that goes is anyone's guess at the moment.
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| Badger11 Beckenham 04 Jan 20 4.31pm |
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If I am misinformed blame the BBC
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