NEW YORK — The Cannabis industry had a major victory last week, without even appearing in court. The US Department of Justice, after four years, has dropped the case to shut down Harborside Health Center in Oakland, California, which is currently the largest marijuana dispensary in the United States.
Robert MacCoun, a law professor and drug-policy expert at Stanford University, in an interview with SF Gate perfectly explained how this market is changing: “The framework is moving from the war on drugs to tricky issues of regulation, taxation and who is going to be in control of this major new industry,” he said.
The reason for the softer approach is in part economical. According to a report by Marijuana Business Daily (actual real website) the entire marijuana industry, including tourism, which is an impact of legalization, is projected to provide $44 billion to the economy by 2020.
Legal marijuana sales in the US alone spiked to $5.4 billion in 2015, up from $4.6 billion in 2014. Sales are projected to hit $7.1 billion in 2016. Diego Pellicer Worldwide, Inc. (OTCQB: DPWW), Terra Tech Corp (OTCQX: TRTC), Medical Marijuana, Inc. (OTCMKTS: MJNA), GW Pharmaceuticals PLC (NASDAQ: GWPH), General Cannabis Corp (OTCQB: CANN).
An independent research article by Michael Markowski, who has been part of the Financial Information Industry for decades producing research, information and intelligence products gives his insight into the Cannabis space. His article can be found here: <Click here to view his article>.
He touches on names like Diego Pellicer Worldwide, Inc. (OTC: DPWW), a real estate and a consumer retail development company that is focused on developing Diego Pellicer as the world’s first “premium” marijuana brand by adhering to the highest quality and standards for its facilities along with both cannabis and non-cannabis products.
Other sector companies mentioned, Terra Tech Corp (OTC: TRTC), operates through multiple subsidiary businesses including: Blum, IVXX Inc., Edible Gardens, MediFarm LLC and GrowOp Technology.
Medical Marijuana, Inc. (OTC: MJNA), wants to be the premier cannabis and hemp industry innovators, leveraging their team of professionals to source, evaluate and purchase value-added companies and products, while allowing them to keep their integrity and entrepreneurial spirit.
In the Pharmaceutical world, GW Pharmaceuticals PLC (NASDAQ: GWPH) recently announced the successful completion of their phase 3 trial for the treatment of Dravet syndrome – a rare and severe form of epilepsy in children with no FDA-approved treatments. The company’s investigational medicine Epidiolex® proprietary cannabinoid product platform. Shares of the company jumped 120% after the announcement on March 14.
General Cannabis Corp (OTC: CANN), is the all-in-one resource for the highest quality service providers available to the regulated Cannabis Industry. They are a trusted partner to the cultivation, production and retail side of the cannabis business. They do this through a combination of strong operating divisions such as real estate, consulting, security, financing and the distribution of important infrastructure products to grow facilities and dispensaries.
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