GreenWave Advisors, LLC, a newly established independent research and advisory firm serving the burgeoning marijuana industry, on Tuesday released its inaugural research report, “The GreenWave Report: State of the Emerging Marijuana Industry – Current Trends and Projections.” The firm estimates that retail marijuana industry sales could reach $21 billion by 2020 and separately, suggests that if marijuana is legally sold in all states and D.C. by 2020, the consolidated market for retail medical and adult use sales could total $35 billion in the first full year of a federally legalized market.
The firm is the first to provide a state by state bottom up fundamental analysis of the U.S. medical and adult use marijuana retail markets. The analysis also provides a first glimpse of the similarities in reported results in the legalized markets thus far.
“We are pleased to offer investors the first independent, comprehensive, detailed and transparent look at the market potential of the retail marijuana industry,” said Matt Karnes, founder and managing partner at GreenWave Advisors, LLC.
In the upcoming election, Florida residents will vote on a measure to legalize medical marijuana and the citizens of Alaska, Oregon and the District of Columbia will decide on full legalization. “We want investors to be ready for the imminent changes that will profoundly impact investment strategies in the marijuana industry”, Karnes said.