We're still collecting comments on a recent post that attempted to pin down why the price of marijuana has been falling at Colorado dispensaries.
Plenty of readers have offered their own theories, but this one goes beyond explanation to offer predictions about where prices will go from here.
Spoiler alert: The direction is down.
Mitch Shenassa writes:
This is basic supply and demand: When CO was the only place in the country to get legal herb, we had a captive market. This led to over-speculation and the construction of mega-grows (indoor and greenhouse] that have increased the supply by over 150% in the past 18 months, with even larger ones currently under construction — so supply is going way up. Meanwhile, other states are legalizing, fracturing the market.
Any smart industry players are planning around $1,500 pounds by the end of 2017, $500 pounds by 2020.
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