Medicinal marijuana has been gaining ubiquity since 1996, when the state of California legalized it for medical use. California led the way in what, over the past 15 years, has turned out to be a major cross-country movement toward the legalization of medicinal cannabis. Today, 16 U.S. states and counting have begun to allow cannabis recommendations and from that, a burgeoning industry has been born.
Many industries have been struggling through the plodding recovery, and worry further bumps could be ahead, but medicinal cannabis has proved buoyant throughout the recession. Besides its strength in any market, the medicinal marijuana industry continues to offer growth potential, making it an attractive investment in uncertain times.
Medical Marijuana’s journey to the mainstream has created investment opportunities that will continue to grow with the passage of time. At the helm of the business revolution is General Cannabis Inc. (CANA). The technology-based Internet marketing service company has directly benefited from the heightened interest and activity within medicinal cannabis. General Cannabis has identified a need in the changing marketplace and its profits reflect that.
The rise of medicinal marijuana has complicated the process by which it’s procured. No longer simply a cash exchange between two people, users now have the option of selecting one of a variety of sellers and can purchase with either cash or credit card.
General Cannabis has streamlined both the process of finding and paying for medicinal cannabis and the reaction to their services proves the strength of the idea and the business.
Last month, General Cannabis announced that WeedMaps Media reported record monthly revenue of $1.1 million for the month of July. WeedMaps Media is home to WeedMaps.com, a dispensary finder website that offers user reviews and daily deals on medicinal cannabis. The continued momentum parallels the strength in the growing industry and can be observed in all the legacy offerings of the company ranging from the Daily Deals to the doctor’s network. The company plans to continue to capitalize on the market with the introduction of new ways to monetize the content on their site.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer