Here are the top four reasons Nevada is a strong market for Flower One’s (CSE: FONE, OTCQX: FLOOF) cannabis products:
1) Large number of tourists – Over 42 million people visit
Las Vegas every year, making it one of the most-visited cities in the United States.
2) Growing recreational and medical cannabis sales – there are 65 recreational and medical cannabis dispensaries currently open in the state of Nevada. New tax figures show nearly $640 million in total recreational and medical
cannabis sales for the fiscal year to-date ending June 30, 2019.
3) The state of Nevada needs the tax revenue – the state took in more than $99 million in
cannabis tax revenue and another $9.9 million in application and licensing fees for the fiscal year to-date ending June 30, 2019. From funding education and creating new jobs, it is easy to see that Nevada has and will continue to embrace the cannabis industry.
4) Nevada population expansion - Between 2018 and 2024, Nevada’s population is forecasted to increase by 10% to 3.4 million. Yet, with the Silver State opening its doors to recreational marijuana sales in July 2017, total legal spending is expected to surge from $567 million in 2018 to $1.41 billion by 2024. On a per-capita basis, this works out to $415.57 in spending. That's more than double California ($172.08) and is higher than every other state in the country.
I am doing my due diligence on this company, and really belive FONE is a strong BUY right now.