Cannabis is ‘in’ and the stigma of weed three-quarters ‘out.’ The cannabis business is booming, following cannabis’ medical and recreational legalization in 29 states in America and the District of Columbia.
A study released in June 2017, shows there are about 165,000 to 235,000 people working in jobs related to the weed industry. This means there are more marijuana workers than dental assistants, according to the Bureau of Labor Statistics. And the trend continues, with around 250,000 predicted jobs by 2020.
Cannabis-fingering entrepreneurs are doing well. So well, in fact, that stocks of major companies—like GW Pharmaceuticals PLC (GWPH), Tilray Inc. (TLRY), and India Globalization Capital Inc. (IGC)—shot through the roof late last week.
The Drug Enforcement Administration (DEA) had a finger in this profit by boosting cannabidiol (CBD) from schedule I to schedule V, which allows the Food and Drug Administration to approve certain drug products.