Cannabis tourism gets its own Disneyworld.
#investing #business #tourism
Marijuana tech-company American Green, Inc. purchased the entire town of Nipton, CA this week for a reported $5 million. They plan to invest an additional $2.5 million transforming the town into a premium destination pot town.
Wait…they bought the whole town?
Yes. The 120 acre town on the Nevada and California border will be converted into “the country’s first energy-independent, cannabis-friendly hospitality destination”, according to a statement by American Green.
The grounds will serve to develop products, starting with CBD-infused water, but potentially grow into cultivation. The ultimate vision is to transform Nipton into the Epcot Center of cannabis, a representative claimed in interviews.
Why is this important?
The actual investment, as well as the national attention the story has gotten, both show the bullish nature of cannabis-related investing. Though American Green may have a questionable past, the excitement surrounding this purchase is undeniable. The markets reacted positively to the news, sending American Green stocks (OTCMKTS: ERBB) up 7% the day after the announcement.