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When we held the First Annual NICI Retreat in Las Vegas, we knew Sin City was going to be tough to beat. But turns out the next "hot spot" for a cannabis retreat could be... Massachusetts.
It might be surprising that's the state catching our eye - but consider the latest cannabis sales data...
From Nov. 20, 2018, to Nov. 20, 2019, nearly $400 million worth of cannabis was sold in Massachusetts. That's very impressive for a few reasons...
First, at the end of November, there were only 36 recreational dispensaries open in the state. There's not even a single recreational dispensary currently open in Boston.
Compare that to Colorado. When legal recreational sales went live there, it generated $300 million with 306 retailers licensed in 2014.
Nevada's recreational sales reached $434 million in its first year of adult-use legalization, but it also had 61 licensed retailers.
So, Massachusetts' $400 million in sales is very significant for cannabis profits.
Sales are really going to kick into overdrive in 2020. Fortunately for us (if you've been following along), we already own one of the best cannabis companies operating in Massachusetts...
About the Author
Greg Miller started working on Wall Street in September, 1987, just a month before the “Black Monday” stock market crash.
During his career there, he became an expert in just about every kind of publicly traded security - from blue-chip and small-cap stocks to municipals, junk bonds, and derivatives. As a portfolio manager, Greg was responsible for over $500 million of assets in mutual funds and insurance company accounts.
After leaving the Street, he designed a successful options trading strategy and made lucrative tech investments for a financial publication. He has also helped develop new products and worked with other editors to hone their strategies. He’s always been dedicated to deep, fundamental research - and he always will be - because he believes buying the very best companies at the right price is the best way to amass wealth in the stock market.
wait and see
I’d like to keep up on the marijuana industry.