The marijuana industry is currently comprised of licensed growers, distributors, users, manufacturers and brokers, independent associations, experts and researchers in regards to cannabis and its related industry derivative, hemp, and commercialized wholesale and retail dealers. There are also unlicensed growers in the US who are using the cannabis plant for medical purposes. Recently, three states have legalized marijuana for medicinal use, and two other states have legalized marijuana use for recreational use. Two other states have legalized the possession of small amounts of cannabis for personal use. As more states consider legalization of marijuana for medicinal and recreational use, the black market cannabis industry will undoubtedly continue to exist on a day-to-day basis.
Florida is one state that has legalized marijuana use for medicinal purposes. Although Florida is not the biggest state in terms of overall cannabis cultivation and production, Florida does have some unique advantages. Florida is home to the University of Florida, one of the top ranked medical schools in the nation. Medical marijuana is legal in Florida, and over two dozen licensed marijuana grower’s facilities operate within the State. Additionally, Florida is the fifth largest producer of legally harvested cannabis in the United States.
Since the establishment of marijuana dispensaries in Florida, the industry has become extremely powerful and profitable. There are currently over seven thousand marijuana establishments in operation across the state. This represents a tremendous potential profit opportunity for any business interested in establishing a marijuana dispensary or cultivatory.
Currently, marijuana remains illegal at the federal level under the Controlled Substances Act. States that have legalized marijuana have different views on whether or not it should be legalized for recreational use. Florida is currently the only state that has legalized cannabis for both medical and recreational purposes. white widow auto avis However, the cultivation and production of cannabis are illegal at the federal level.
As it stands, marijuana regulation at the state level is more lax than the federal government. Consequently, many businesses that wish to partake in the marijuana industry do not wish to invest their resources in Florida. The cannabis that is grown and distributed within the state is referred to as residual marijuana. On the other hand, cannabis that is imported from other countries is called cannabis products. Despite the fact that cannabis remains illegal on the federal level, fourteen states plus the District of Columbia have legalized some form of cannabis.
Several companies have taken an initiative to enter into the medical marijuana industry in the state of Florida. Two of the most prominent companies, Terra Bella and Realm of Canna have already started to cultivate and supply a variety of cannabis products to the Florida market. Both of these companies have obtained permits from the state to cultivate marijuana and oversee sales and distribution of the product. Companies like Tilray, another company owned by Canadian drug manufacturer Tilray Corporation, has also shown a strong interest in entering the medical marijuana market in Florida. If the trends are anything to go by, medical marijuana is one sector where investors will certainly make money in Florida in the upcoming year.
While Florida has yet to see any significant marijuana industry growth, there are many marijuana firms that are making steady headway in the Florida market. Several well established cannabis companies like yours have obtained licenses from the state to grow and distribute medical marijuana. These firms are likely to expand into several additional regional markets as the industry continues to blossom. It is also worth noting that despite the fact that the medical marijuana industry in Florida is not yet mature enough to provide much in the way of employment to residents, it is still the case that many people use marijuana on a daily basis. Regardless, of the fact that it is not an approved medicine by the FDA or because it is viewed as a danger, the marijuana industry will continue to grow.
In terms of the New York Stock Exchange, there have been several prominent marijuana stocks listed in recent times. Several of these stocks have experienced gains during the past year, especially as marijuana stocks reached new heights in terms of price. Stocks like yours that perform well can lead to big gains, if you choose the right stocks to put money in. The NYSE is an excellent place to do some short term research on your own, prior to investing in the broader market.