Legal weed is getting cheaper, fast
As states legalize marijuana across the country for medical and recreational use, prices are dropping faster than growers and sellers would like them to, according to the Wall Street Journal. The cannabis industry has grown over the past few years, bringing in more than $6 billion a year in retail.
Data: BDS Analytics; Chart: Andrew Witherspoon / Axios
Retail: BDS Analytics tracks marijuana market trends, their data shows sales increasing and prices decreasing in Colorado and Washington state:
Wholesale: Since 2015, prices have dropped from $2,133 a pound to $1,614 a pound.
Why it matters: Marijuana growers are struggling to find ways to make a profit. Some are attempting to set themselves apart my touting "organic" products – plants grown outside with sunlight instead of indoors with heat bulbs. The more cannabis grown, the lower prices will continue to get. More consumption would help, but growers and retailers have to be careful about pushing for that.