CannaGrow Holdings Inc (CGRW): Looks like CGRW is one of the latecomers...

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Alan Brochstein

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Wednesday, 09/14/2016 7:06:21 AM

Wednesday, September 14, 2016 7:06:21 AM

Looks like CGRW is one of the latecomers to the party...

Wholesale cannabis prices have been plunging, according to Tradiv — a California-based online marketplace born from Boulder's start-up scene. The "Amazon of weed," as the company's been touted, reported that a pound of flower cost around $2,500 in October 2015, but that by August 2016, the price dropped $1,000.

That downward pressure on prices is a result of a market flooded with supply.

According to the Marijuana Enforcement Division, a subset of the state Department of Revenue, there are over a hundred more licensed cultivators of recreational cannabis than there were at this time last year. That influx of new growers, in addition to the existing ones who have expanded their growing capacity, has amounted to more product on the market. And the resulting competition means better deals for the consumers.

http://www.csindy.com/coloradosprings/state-certifies-first-hemp-seed-weed-prices-plunge-pueblo-post-pones-moratorium-question/Content?oid=4039147

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