Cigarette Companies to Become ‘Budweiser’ of Marijuana?
In the coming years, major consumer-facing cannabis brands could arise as more states pass medical and recreational marijuana laws and the industry grows.
And one Wall Street guru thinks he knows which companies will be behind these brands.
“Who’s going to be the Budweiser of marijuana? My guess – they would all deny it – would be cigarette companies,” Gerry Sullivan, head of the Vice Fund, predicted in an article by Reuters.
In fact, Sullivan said the Vice Fund – which invests in risque industries such as gambling, guns and alcohol – will keep strong positions in tobacco companies partially for this reason.
Cigarette companies could indeed be positioned well to enter the marijuana industry, and many cannabis professionals have long feared an invasion by Big Tobacco (and Big Pharma).
But it would likely take a significant change on the federal level before this happens. Mainstream corporate giants, such as those in the tobacco industry, would need a clear sign from the government that they could participate in the marijuana sector, likely through new legislation and a reclassification of the drug.
And cigarette companies have shown little interest in the cannabis industry, at least publicly.
Still, there’s no question they are keeping an eye on the situation, and cigarette heavyweights are likely having internal discussions about how to get involved if and when the government changes its position.
A California lawmaker has introduced a bill to regulate medical marijuana businesses in the state, [click to read more...]
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Colorado’s recreational marijuana shops racked up more than $14 million in sales during January, according [click to read more...]
Medical marijuana consultants are seeing business opportunities in Florida and Illinois, even though the industry [click to read more...]
Independent testing of popular edibles products for sale in Colorado recreational shops reveals significant deviation [click to read more...]
Cannabis entrepreneurs who still hold jobs outside of the industry should proceed with caution. Many [click to read more...]
Dozens of Oregon communities are declining to roll out the welcome mat for medical marijuana [click to read more...]
Washington State has issued its first recreational cannabis license, paving the way for retail marijuana [click to read more...]
New Jersey’s three operating dispensaries can adequately meet current demand for medical cannabis despite complaints [click to read more...]
Home growers in British Columbia may escape Canada’s impending ban on grow-it-yourself marijuana. Politicians and [click to read more...]
Hundreds of entrepreneurs have applied for dispensary licenses in Oregon over the past two days, [click to read more...]
Medical marijuana has taken another step toward mainstream acceptance: It is now being advertised on [click to read more...]
People are still lining up around the block to work in Colorado’s recreational marijuana industry. [click to read more...]
New Mexico is considering a plan to boost the number of cultivation licenses significantly and [click to read more...]