Monday, May 14, 2018

Latest numbers for pot industry show that cannabis sales on the cusp of surpassing both Netflix and McDonalds

With both California and Nevada opening up their markets to both medicinal and recreational cannabis use in 2017, the potential for the pot industry to start accelerating in market cap was only a matter of time.  And in the latest numbers out on cannabis sales across the country, sales of pot in all its forms is now just under the market caps of both Netflix and McDonalds.

With revenue of $5.8 billion-$6.6 billion, sales of legal recreational and medical cannabis in the United States in 2017 topped those of Oreos and organic produce combined. 
The data – published in the newly released Marijuana Business Factbook – illustrates how quickly the legal U.S. marijuana industry has grown. 
It now rivals Americans’ collective spending on Netflix subscriptions – and will likely surpass McDonald’s annual U.S. revenue now that California’s massive new legal industry is getting off the ground. 
By the end of 2019, sales of legal cannabis in the United States could overtake those of firearms and ammunition, an industry with a huge amount of influence on Capitol Hill. 
Continued growth in mature medical and recreational markets, legalization in new states and further development of recently launched MMJ and rec industries will be the primary drivers of growth for the U.S. marijuana industry over the coming years. – MJ Biz Daily


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