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Cannabis investors balk at New York’s new marijuana licenses

Submitted by Marijuana News on Thu, 08/06/2015 - 08:38

Less than a week after New York state granted five companies licenses to manufacture and sell medical marijuana in the state, not everyone in the industry is impressed. The issue: New York's approach just doesn't do enough to bring the green that counts into the hands of the license holders.

At least two cannabis investors are skeptical about the margins on a national scale, this in spite of a recent forecast that the dispensaries could generate hundreds of millions of dollars in revenue as soon as next year.

“We believe it’s going to be an extremely limited market,” said Eddie Miller, founder and CEO of New York City-based Invest In Cannabis, a firm with 24 national companies on its portfolio. “The economic opportunity here, from our standpoint, is pretty small because of the marketplace, and the amount of customers that actually have the potential to enter the market.”

The first issue for Miller...

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URL: 
http://www.bizjournals.com/newyork/news/2015/08/04/cannabis-investors-balk-at-new-york-s-new.html

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