Have there ever been so many different names for a product?
Weed, dope, herb, joint, ganga and grass are just a few of the hundreds of words used as colloquial terms for marijuana, and it is claimed that the drug can treat depression, anxiety, insomnia, migraines and more.
With a variety of applications, combined with the legalization of the drug for recreational or medicinal purposes in several U.S. states, comes opportunity: the value of the marijuana market is expected to reach $21 billion in the U.S. by 2020, up from $6.7 billion in 2016, according to brokerage company Convergex, in a note released this week.
But while there are certain groups of consumers that are already sold on the drug, either as a way to get high after a long day, or for medicinal purposes, the opportunity for entrepreneurs and investors is in reaching the "clueless and curious" consumer, according to Pamela Johnston, senior vice president of strategy and special projects at cannabis advisory services company Electrum Partners.
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