Medical Marijuana Companies Thrive in Weak Economy

Brittney Barrett |

Perception of medicinal cannabis continues to shift as a larger, more respected and more active  group of people begin to speak out on the myriad benefits of the herb. The spectrum of individuals that can benefit from the properties of medicinal cannabis is unparalleled. Celebrated as a treatment for ailments from nausea to migraines and anorexia, the scope of uses for medical marijuana are still being discovered. Just recently, early studies showed medical cannabis may have a positive impact on post traumatic stress.

In addition to these myriad applications, medical marijuana can also be harnessed as an investment vehicle. As a result of the many troubles that can be treated with medical cannabis, it is the equivalent of a blockbuster drug, far exceeding the sales of even Viagra. Some believe the industry may be worth as much as $45 billion dollars.

The fiscal value of medical cannabis has been well proven by the Southern California-based General Cannabis Inc. (CANA), A technology-based Internet marketing services company, CANA recently announced its 21st consecutive monthly revenue gain for its fully owned subsidary, WeedMaps Media. WeedMaps Media runs the popular doctor and dispensary finder site WeedMaps.com. The company reported a more than threefold monthly revenue increase to $1,250,000 last month compared to $365,177  for the year-earlier quarter.

General Cannabis is among the pioneers in an emerging sector that capitalizes on the popularity of medical marijuana. Recognizing the changing landscape, broadening legality and increasing public acceptance, General Cannabis has helped take the business of medical marijuana online in a way it could not before.

Like Yelp, WeedMaps.com offers user reviews and GPS based searched results in order to provide those with medical marijuana recommendations or looking to get one the best and most convenient option for them. WeedMaps’s continuing growth exemplifies the tremendous demand for such a service and its capacity to general significant revenue.

The strong growth, especially during a time of economic volatility says a lot about the resilience of the industry and makes it worthy of consideration as many investors struggle to find a safe hour during times of market turmoil.

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

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