California Dispensary Acquisition Places Marijuana Sales in Stock Market

California Dispensary | Just Believe Recovery Carbondale PA

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California Dispensary Acquisition Places Marijuana Sales in Stock Market

Terra Tech is an agriculture company primarily focused on medical cannabis cultivation. It announced the acquisition of the Blum Oakland California dispensary today. So what does this mean? Simply put, it is the first time that a company which produces, extracts, and sells marijuana can be traded publicly on the stock market. Currently, cannabis-related business which have made it Nasdaq do not directly deal with sales of the product.

The California dispensary earned nearly $15 million in 2015 and has about 48,000 patients. There is a storefront facility for patients in which marijuana is grown, processed, and sold. While Terra Tech has done much behind-the-scenes processing of marijuana, it has never sold it in a storefront such as that provided by Blum.

The merger will allow for the integration of the cultivation and sale of marijuana, which will make it one of the first in California. A current bill makes such an event impossible unless operation began before July 1, 2015. The California dispensary has been open since 2012.

To date, medical cannabis has been legalized in 23 states, while recreational cannabis use is legal in 4 states (Alaska, Colorado, Oregon and Washington) as well as the District of Columbia. Some predictions place the marijuana market reaching $35 billion by 2020, with possibly 18 states having legal marijuana. Among those likely will include Arizona, California, Maine, Massachusetts and Nevada.

Problems with SEC? Nope.

The U.S. Securities and Exchange Commission, or SEC, does not comment on cannabis company policies and public trading. However, it is assure than as with many business, marijuana dispensaries will be required to disclose risks faced in their filings. So far, Terra Tech has not seen issues with the SEC in terms of filing its finances. And that open action with a government indicates that marijuana use continues to be less and less stigmatized.

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