High Times Magazine Going Public
High Times Magazine has decided to get even higher than they already are. Instead of using marijuana, they will use NASDAQ. It’s been an interesting road for High Times in the past 10 years and has lead them to the stock market. Magazine sales have been falling off since the internet and social media took over. HT had to add new revenue streams which is where having the Cannabis Cups in medical and recreational states came into play.
These consistent national and international cannabis cups took High Times to new levels. Yes, they’ve always had their annual Amsterdam Cannabis Cup but now they are moving into individual states. Tickets for most cannabis cups average around $50+ a day and up to $250+ for VIP passes along with booths for vendors starting at around $3,000. With thousands of people attending almost monthly events, they sure are making prolific profits. With the cannabis, cup brought huge amounts of publicity, thanks a lot to the internet and social media. These cups gave the fans to put faces and personalities with the writers and people behind the scenes of High Times. It gives brands amazing chances to interact with their fans face to face. These are just two things that brought High Times to NASDAQ.
High Times will be on the NASDAQ in October.
After years of successful cannabis cups, Oreva Capital purchased the controlling stake in High Times for about $70 million. Oreva didn’t wait long to get a return on their purchase by selling to a public special purpose acquisition company called Origo Acquisition for $250 million. Marijuana once again is taking steps towards the mainstream.
It’s being reported that we will see High Times on the NASDAQ by October. In due time you will be able to play the stock market with your favorite past time magazine company.
This is another step to adding more marijuana based companies to the stock market. There already a modest amount of marijuana stocks on NASDAQ. Only two of those, Aphria and Canopy Growth Corp, turned a profit in the 2017 fiscal year. But both stocks weren’t profitable in their latest quarterly results.
ArcView is a cannabis research firm estimates marijuana sales from medical and recreational to approach $22 billion by 2022. That is with the current states that allow legal marijuana use. Imagine how much higher that number will be if just three states legalize marijuana in the next few years? Today might not be the day to invest in marijuana stocks but it sure seems to be coming in the near future.
Congratulations to High Times on making these deals and overdoing themselves in 2017. High Times and Hail Mary Jane have worked together and garnered a great relationship for 8 years and many more. We hope the best for everyone at High Times!