Inside the Marijuana Market Opportunity in California
Recreational marijuana is now legal in California. About 90 businesses received state licenses to open on New Year's Day. Medicine Man Technologies CEO Brett Roper explains his outlook for the market opportunity in this state.
"We expect California to evolve over the next year to eighteen months," says Roper. "There are going to be challenges with new regulatory environments that are in place." The nation's state with the largest population joins a increasing list of other states where recreational marijuana is legal.
Some reports have valued the state's new pot economy to be as large as a $7 billion opportunity. "Overtime we think California's marketplace will be extraordinary," said Roper.
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A rare magnum of Dom Pérignon Vintage 1961 champagne that was specially produced for the 1981 wedding of Prince Charles and Lady Diana has failed to sell during an auction. Danish auction house Bruun Rasmussen handled the bidding Thursday. The auction's house website lists the bottle as not sold. It was expected to fetch up to around $93,000. It is one of 12 bottles made to celebrate the royal wedding. Little was revealed about the seller. The auction house says the bids did not receive the desired minimum price.
