Sorry, Medical Marijuana Already Sold Out
Big news in our home state of Maryland…
After years of waiting, the state’s first medical marijuana dispensaries have finally opened for business.
And they’re already selling out of product.
Six dispensaries have opened in the past week, with 86 more to eventually follow. And three were forced to close in a matter of days due to pot shortages.
Potomac Holistics in Rockville was one of the first dispensaries to open on December 1. By December 2, it’d posted the following message on Facebook:
“Due to overwhelming demand we have sold out of product and will be CLOSED on Sunday, December 3 and Monday December 4. We expect to receive new strains and supply around mid to end of this coming week.”
On Monday, Kannavis in Ijamesville wrote:
“We have a limited supply of Dixie tablets and Elixirs available. We will be formulating a new menu and prices as soon as we get our next shipment of product, which we expect to be within the week.”
This hardly comes as a surprise, as similar shortages have been experienced by other states opening up new medical and recreational outlets.
In Maryland, demand has been pent up since 2013, when the state took its first steps to legalize medical marijuana. Its rollout has been one of the slowest of the more than two dozen medical marijuana programs across the country. (Medical marijuana has been legally sold in neighboring D.C. since 2013, and has more than 5,000 registered patients.)
More than 17,000 consumers in Maryland have already registered for medical marijuana and more than 500 providers — doctors, nurses, dentists, and podiatrists — have signed on to the program.
Potomac Holistics owner Bill Askinazi told WAMU that patients couldn’t wait to get their hands on the drug.
“They’re saying, ‘We’re tired of taking the prescription pills, we’re tired of taking the opiates,'” Askinazi says. “Basically, ‘Please help us.'”
Indeed, amidst a nationwide epidemic, states with medical marijuana programs have fewer opioid overdose-related deaths than states without medical marijuana.
And with treatment options available for everything from cancer, to glaucoma, multiple sclerosis, inflammatory bowel disease, and even PTSD, the benefits are undeniable.
As a result, the medical and scientific communities have expressed almost unanimous support of medical marijuana since the tide started to rise.
Major media personalities who once opposed its use, such as Dr. Sanjay Gupta and Dr. Mehmet Oz, have reversed their positions in light of evidence showing the benefits.
Marijuana is also used by a huge number of athletes to treat pain.
Marijuana isn’t even on the National Hockey League’s list of banned substances. And Riley Cote, a former enforcer for the Philadelphia Flyers, says his colleagues often turned to marijuana for medical relief.
“Good people break bad laws, I guess,” he told Maclean’s. “At least half of those guys [I competed with and against] consumed, and a fraction of those guys consumed regularly. Like, every day…. And that number is probably higher.”
“I’d quietly use it as an ally of mine. It helped me manage anxiety [and] pain,” Cote says. “There was no physical addiction. It just made me feel better.”
Since his retirement, Cote has founded a non-profit organization that advocates for holistic approaches to wellness for current and retired athletes.
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Eben Britton, an offensive lineman who played for the Jacksonville Jaguars and Chicago Bears, has followed a similar path. After a taxing career in the NFL, Britton helped create a new business that specializes in all-natural pain relief with cannabinoids.
“I left all the pills and such behind me in my playing career,” he told the Outsider Club’s Jimmy Mengel in an exclusive interview. “And that sort of spawned this cannabis advocacy. The more I educated myself and built up my own knowledge of the research and articles I read, it just validated everything I'd experienced and sort of intuitively understood, even more.”
Stories like these have become commonplace over the past few years, as cannabis treatments have gained more and more credibility.
Such treatments are also delivering huge gains to investors.
For example, Jimmy Mengel, who also serves as Investment Director for The Marijuana Manifesto, recently closed out a 160% gain for his subscribers. He closed out two other positions on November 27 for gains of 90% and 87%, as well.
No doubt, Jimmy has seen the benefits of medical marijuana up close. He meets regularly with executives, doctors, and cultivators. He's toured grow houses and retail facilities. And he’s conducted interviews with the likes of Eben Britton and Montel Williams.
Most recently he toured a 23,500-square-foot medical marijuana facility, inspecting a new innovation that’s poised to revolutionize the market.
The company that owns it currently produces around 1,102 lbs of cannabis. But it ultimately aims to raise that production to 33,069 lbs. That will take its stock (currently trading for less than $3.00 a share) into the stratosphere.
Jason Simpkins is Assistant Managing Editor of the Outsider Club and Investment Director of The Wealth Warrior, a financial advisory focused on security companies and defense contractors. For more on Jason, check out his editor's page.
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