Predictions show that Californians may generate approximately $2 billion per year from marijuana if fully legalized This estimate is from newest data from Washington, a state where only fifteen months of legalization has generated over $357 million in the selling of marijuana products. California has 5.5 more people than Washington, therefore, Californians are predicted to make well over 5.5x of what Washington did. As legalization continues to spread throughout the country, more and more states are making BIG money from cannabis products.
POTNETWORK HOLDINGS INC (OTCMKTS:POTN) looks to be a part of this booming business with their two subsidiaries: PotNetwork Inc. and Sunrise Auto Mall, Inc. PotNetwork Inc’s main goals are to become a 24/7 network and be the primary distributor of news and other content for the cannabis industry. Sunrise Auto Mall, Inc. is an auto dealership that provides transportation to people no matter what credit scores they may have. After this, they keep the client near and try to restore his or her credit back to a good score.
Last Thursday morning, POTNETWORK HOLDINGS INC (OTCMKTS:POTN) reported quarterly revenues of $1.9 million, revealing consecutive record breaking earnings at $266,000. This is approximately 40% larger than the previous quarter.
“We are very pleased that the numbers are continually increasing. The effort put forth by our team, along with the consistent local demand for reliable transportation, is empowering us to achieve greater heights as we move forward. We have set our sights on rolling out additional locations, and the better these numbers continue to look, the more invigorated we are about what the future holds for the Company and its shareholders,” President of Sunrise Auto Mall, Steve Buckner, said.
Since this news, POTN has seen lows of $0.0001 and a 300% rise to $0.0003 by the close of the week. With the company still young, it may be a good stock to keep on your radar as the revitalization of marijuana stocks, cannabis investments, and the new trend of investors finding the best marijuana stock to buy in 2015.