Last week, a publicly traded cannabis company announced that it would be opening the first marijuana resort in the United States. The resort is located on a 170 acre property in Durango, Colorado and is accepting reservations for its summer season (July 1 – October 31).
The company responsible for this development is the MaryJane Group, Inc. (MJMJ). Through it subsidiaries, MJMJ provides lodging and entertainment services for the recreational marijuana industry. The company also provides a number of contracted services which include, but are not limited to professional photography, graphic design, party bus rentals, event planning, branding, and fundraising. MJMJ also owns a clothing business.
First marijuana resort in the United States
The MaryJane Group will be opening its CannaCamp Bud and Breakfast Mountain Resort in less than a month. The trip package includes everything but cannabis. Guests must purchase cannabis from the property’s cannabis concierge, who provides a menu of recommended strains plus suggested pairings with specific activities and meals.
For $395 per person per night you can stay at the resort and participate in marijuana friendly activities. For safety purposes, guests cannot smoke in the cabins but can participate in marijuana cooking classes, cannabis yoga, and cannabis infused massages.
A world of change
Ten years ago, if I said there would be a marijuana resort in 2015, people would have looked at me like I was crazy. This development is a testament to how much the industry has changed over the past few years.
Marijuana use is prohibited at most state and national parks which differentiates CannaCamp from every other national park in the United States.
Joel Schneider, CEO of the MaryJane Group, said, “We’re bringing an element of luxury to that adventurous, exploratory vibe of childhood summer camp.”
Epitome of a marijuana stock
Do not be fooled. The MaryJane Group may be innovative and a first mover but that does not make them a great investment. Last week, MJMJ was up 488% on Tuesday, down 42% on Wednesday, down 22% on Thursday, and up 29% on Friday.
The company trades for less than $0.01 and has a market capitalization that is less than a brand new Maserati. Shares of MJMJ are down more than 99% during the last 12 months and its 52 week high is $1.05.
This development has improved MJMJ’s market sentiment and generated a lot of awareness for the company but investors need to remain cautious.
Many people have asked me how much lower shares can go and the answer is simple, $0. If you want to learn more about MJMJ and how to invest in it, sign up for a Pro Trader account at Technical420.com. The first week is free and you can cancel your membership for any reason!