PA passes medical marijuana bill
Pennsylvania could soon become the 24th state to legalize medical marijuana. As Vox reports, "Pennsylvania House passed an amended version of a Senate-passed medical marijuana bill, and the Senate and Gov. Tom Wolf have signaled that they will soon approve the legislation, turning it into law." Also, check out the cool map Vox designed that shows yes and no states.
Investing in legal medical marijuana
Did you ever think you'd ever see a headline like that? And it would appear in U.S. News and World Report? It's a great piece and looks at the advantages and disadvantages of investing in legal weed. Here's a block that really lays out the piece:
The complex nature of this budding industry - legalized by some states but not the federal government - adds business and political complications to the space that's arguably one of the riskiest in the world for investors.
Read the whole thing here.
Weed adding to real estate bubble?
David Downs has been writing some great stuff about the industry on the Smell the Truth blog (produced by SFGate). His latest piece looks at a new kind of real estate bubble in the Bay Area being driven by new state regulations clarifying the legality of the $1.4 billion medical pot economy in the Golden State. In other words, marijuana growers are competing for space and space is running out.
GreenBiz of the week: Green Therapeutics
Green Therapeutics is a licensed cultivation and production medical marijuana establishment in Nevada with facilities located in North Las Vegas and Clark County. They're "dedicated to producing the safest premium-grade medicine, sustainably crafted for the connoisseur cannabis patient." And their president? He was former Manager in the Nuclear Pharmaceutical division of Cardinal Health, ranked 19th on the Fortune 500 list. We're not quite sure what that role entails, but it sure sounds pretty bad-ass.