Nicholas Colas, a New York broker, reports findings from his investigation on Colorado weed prices, and notes a resemblance to the Silicon Valley boom.
Seems like quite the conundrum, doesn’t it?
Bloomberg reports that although the number of visitors into dispensaries is increasing, Colorado weed prices are declining, and faster than expected.
However, despite this, recreational cannabis sales are still exceeding last years.
Another interesting observation is that the transaction size is decreasing, perhaps due to the novelty of legal weed waning.
Nicholas Colas, a New York broker, notices similarity between the cannabis industry and the Silicon Valley boom, which is rather foreboding given the history.
We are eagerly awaiting further insights into the economic status of cannabis in Colorado, and look forward to watching the market develop as cannabis continues to normalize in the United States. We’ll keep you updated!
Featured image Bloomberg