On Thursday, December 11, 2014, the United States Department of Justice changed the landscape of the legal marijuana industry. They decided that Native American tribes across the country can grow and sell marijuana on their sovereign lands and must follow the federal guidelines in the four states where recreational marijuana is legal.
The Seneca Nation joined the growing list of tribes who have expressed interest in the legal marijuana industry. Seneca Nation President Maurice John, Sr., recently discussed his views on the industry and said the tribe has been monitoring it closely from the sidelines.
A Waiting Game
In mid-June, the Flandreau Santee Sioux Tribe (FSST) became the first reservation in South Dakota to legalize marijuana. This move comes after the Department of Justice (DOJ) announced that Native American tribes can grow and sell marijuana on reservation lands in December 2014.
According to state law, any form of marijuana is illegal in South Dakota. Even though state law classifies marijuana as an illegal substance, the Flandreau Santee Sioux Indian Reservation legalized the use and sale of marijuana on tribal land last week.
The Colorado cannabis industry has continued to see incremental revenue growth during 2015. The tax data released by the Colorado Department of Revenue and the revenue reported by thejointblog.com prove that the success seen in 2014 was not a fluke; it was just the start of something much bigger.
United Cannabis Corporation (CNAB)
Earnings season has started to heat up; a number of companies have already announced results. A few companies have reported results that show significant improvement, while some others have reported very lackluster results. Technical420 expects 2015 to be an important year for these companies and the strong companies will show their true colors.
The cannabis industry is the most rapidly developing industry in the United States. New companies sprout up every day, companies change their name and symbol on a regular basis, and mergers and acquisitions routinely occur. These types of corporate actions happen frequently and that makes it difficult for an investor to follow and understand what is going on in this industry.
Less than two weeks ago, Michael Berger, president of Technical420, hosted a panel of marijuana experts at the World Moneyshow in Orlando. The panel included experts that serve in a number of subsectors in the cannabis industry.
In late January, the Pinoleville Pomo Nation made headlines when the tribe announced that they would take the Department of Justice (DOJ) up on its offer to grow and sell marijuana on sovereign land. When the DOJ announced this in December 2014, Technical420 recognized this event as a catalyst for industry growth. Investors are now claiming that at least 100 additional tribes are exploring the rapidly growing marijuana industry.