Denver cannabis sales totaled $587 million in 2017, and the city saw $44 million in tax revenue. That was a 20% increase in revenue for the city from the previous year.
Of course, we aren't surprised…
By 2021, legal cannabis sales in North America are expected to reach a staggering $24.5 billion, according to Arcview Market Research.
This is just the beginning of what many are calling the new "gold rush."
The 4 Cannabis Stocks to Buy Now: Profits of up to 1,000% could be likely this election year!
Now let's take a look at the top news in the marijuana industry…
Top Cannabis News for Aug. 16
- Molson Coors Brewing Co. (NYSE: TAP) wants to get in on the cannabis market. The brewer's Canadian division will partner with cannabis producer The Hydropothecary Corp. to develop a non-alcoholic drink that contains marijuana, according to the Denver Post. Molson will hold a 57.5% controlling stake in the venture, and the deal is expected to close before the end of September.
- From what our inside sources told us, luxury cannabis products are going to be the next big thing. And investors who spot trends before they become mainstream can make the biggest long-term gains. You don't want to miss this exclusive report.
- Zoned Properties Inc. (OTCMKTS: ZDPY) announced on Aug. 7 that it's on track to complete the development of a 50,000-square-foot space for licensed medical marijuana cultivation facilities. Its primary tenant, Hana Meds, is expected to start producing cannabis by the end of 2018.
- The latest marijuana company to go public is having a strong month. Tilray Inc. (Nasdaq: TLRY) shares opened at $23.05 on July 19, and they are now trading for $29.40 per share. That's a climb of 27.54%.
Molson Coors Brewing & Tilray are in my portfolio. Thanks for the shot in the wallet!