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This urgent briefing reveals details of the legal weed boom – including the top stocks to BUY NOW. Click here for complete access.
Usually, a “state of emergency” is declared when there’s a natural disaster, such as a hurricane or earthquake.
Yet, according to Fox News, that’s what just happened in the state of Nevada:
Nevada marijuana supply running low, state of emergency declared, governor says.
Legal weed is sweeping across America. And this shortage highlights the huge and growing demand (click here to discover how to profit from this growth trend).
Cannabis sales started in Nevada on July 1. The 47 stores that are licensed to sell legal weed reported more than 40,000 transactions in the first weekend.
Meanwhile, the Nevada Dispensary Association reported that first weekend sales totaled $3 million.
Initial sales were twice what the state officials had expected.
The Nevada Department of Taxation reports, “Based on reports of adult-use marijuana sales already far exceeding the industry’s expectations at the state’s 47 licensed retail marijuana stores and the reality that many stores are running out of inventory, the Department must address the lack of distributors immediately.”
Nevada’s Legal Weed Shortage
Nevada allowed stores to begin selling cannabis for recreational use a couple of weeks ago. And it’s reported that the supply is completely running out.
In November, Nevada voters approved a referendum to legalize the recreational use of cannabis. The law said that legalization would occur on July 1, 2017.
With just a few weeks before the deadline, the state legislature ironed out final rules for a recreational rollout.
The law gave alcohol distributors exclusive rights to distribute cannabis. However, none of them were able to meet the rules before the July 1 deadline.
As of this week, only seven of the nearly 70 alcohol distributors had applied for a license. And just two licenses had been granted. Riana Durett, director of the Nevada Dispensary Association, said, “There aren’t enough alcohol distributors serving that market.”
Last week, regulators unanimously voted for rule changes that will allow distributors of medical cannabis to also deliver for recreational use.
As a result, medical dispensaries got in on the action. They’d been handling the sale of cannabis for medical purposes already.
The problem is that these medical dispensaries are not allowed to re-stock with cannabis from the alcohol distributors. And as of right now, none of the alcohol distributors are able to distribute weed.
The Nevada government is very interested in solving this quickly. Nevada has a 15% tax on the plant’s cultivation and a 10% tax on recreational sales. The state plans to use that revenue to help fund education.
The Department of Taxation expects $100 million in tax revenue over the next two years. And that income is part of the state’s plan to balance the budget.
Investing in Legal Weed Companies
Governor Brian Sovall’s office clarified that this was not a “state of emergency.” Instead, the statement of emergency allowed for the state to undertake rule changes to solve the supply-demand imbalance.
Nevada joins the states of Colorado, Oregon, Washington and Alaska that are currently selling legal weed for recreational use.
As seen from the huge demand in Nevada, many Americans support legal weed and want to buy the product. It’s only a matter of time before this is completely legal in all 50 states.
Legal weed is going mainstream. And early investors are cashing in and getting rich. Are you ready to get in on the action?
Go here for complete access to this live briefing (it’s FREE to attend).