The stock market took a beating last week. It appears that fears of a burgeoning economy may lead to interest rate hikes. This effectively led to the Dow Jones Industrial Average losing a considerable amount of points this week. This week’s losses mark a third consecutive week where value has been lost. It appears that the gains realized from the beginning of the year have been wiped out.
If there is one industry that is definitely gaining steam, it is the marijuana industry. With California allowing recreational use and additional states considering such laws, more businesses and entrepreneurs are entering the “pot marketplace.” Indeed, not everyone is growing their own form of marijuana and hoping to cash in on the popularity. After all, growing marijuana is highly regulated and only a few are able to enter the field in this manner.
Instead, it is the peripheral supply industry that is creating the most interest. Essentially, web developers (who advertise licensed dispenseries), smokeless vaporizer manufacturers, agriculture suppliers and rolling paper providers are capitalizing on this trend. Even more intriguing, Congress reportedly is considering requests from state attorneys general to propose a bill that would allow institutional lenders to lend to businesses within the marijuana industry (even though marijuana is still categorized as a dangerous drug under federal law).
All of this activity and opportunity calls for entrepreneurs and new businesses to have experienced legal representation to help them answer critical questions that can lead to new opportunities and to avoid costly legal problems.
The preceding is not legal advice.