6/9/2023 0 Comments Growbot cannabisTroy Dayton, Arcview’s CEO, opened the two-day forum with a look out at the ballroom full of current and would-be investors and an introduction that marked a sense of history and place.Ĭonservative-leaning Texas might seem an odd place to rent convention space and rally sponsors from some of the nation’s leading cannabis companies. RELATED: Despite unprecedented momentum, Texas rejects marijuana legislative reform More than one offering was built on digital market access and described as the “Amazon of Cannabis.” Cowen & Co., a New York-based investment firm, estimates the legal cannabis industry will grow to $50 billion within the next 10 years. ![]() With slogans and power point slides, they outlined how startups in cultivating, dispensing, marketing and distributing cannabis could get Texans in on what is being touted as the fastest growing industry in America. The lights were dimmed and a sound crew played thumping, upbeat music as the parade of industry analysts and entrepreneurs - some with Ivy League and Silicon Valley pedigrees - took to the stage in early May. “I wish could tell you I built the Oblend machine in a garage but the truth is I had a world class team of scientists, engineers and executives from the consumer products, health care and medical device industries,” he told the group.Īmong the mix of suited and sandal-wearing executives at the AT&T Convention Center on the south end of the University of Texas’ flagship campus, it was hard to distinguish the investors from the investees. Matt Wilson, of the Seattle-based founder of Altopa, unveiled the Oblend, “the first consumer device that allows you to precisely blend botanical oils at home.” Both stocks have dropped in recent months, presenting better entry prices for long-term believers, but it's also quite reasonable to wait for this nascent industry to grow more and to see which companies emerge as profitable winners. Here are two publicly traded companies to look into: GW Pharmaceuticals is a biopharmaceutical company with a market value of $1.2 billion, while Insys Therapeutics is another, with a market value of $1.8 billion. While there can be plenty of money for companies in growing and selling the stuff, big bucks can also be made by developing effective pharmaceutical drugs derived from it. ![]() ![]() You can make money (or lose it!) in medical marijuana without growing any yourself - by investing in marijuana-centered companies. A Forbes article posited that "Legal Cannabis is 2015's best start-up opportunity." Getty Images Show More Show Less 23 of27 11. Growing marijuana can be surprisingly profitable, with a 2015 Bloomberg report noting that while the wholesale rate for medical marijuana was $2,500 per pound, it was costing a Colorado grower just $600 to produce the stuff.
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