Sales of legal marijuana in the United States are expected to hit $7.9 billion this year, up from $5.7 billion last year – with just one obstacle preventing sales from growing even faster.
Here’s the problem. Dispensaries in states that have legalized marijuana have run into a roadblock when it comes to methods of customer payments. The big credit card companies and most banks refuse to do business with marijuana dispensaries, despite legalization.
That means no credit cards or checks can be used to buy, forcing a cash-only policy among most legal marijuana stores.
The good news is that a solution already exists: the digital currency Bitcoin…
Why Legal Marijuana Sales Make Banks Nervous
Banks are skittish about marijuana dispensaries because while an increasing number of states have legalized marijuana, the substance is illegal at the federal level.
Best Bank Stocks To Invest In 2018: PetroChina Company Limited(PTR)
- [By Money Morning News Team]
PetroChina Co. Ltd. (NYSE ADR: PTR) is China’s largest oil company with a market cap of $216.52 billion. PTR is partially owned by the Chinese government.
Best Bank Stocks To Invest In 2018: Adient plc (ADNT)
- [By WWW.THESTREET.COM]
In the Lightning Round, Cramer was bullish on Western Digital (WDC) , Twilio (TWLO) , Adient (ADNT) , Salesforce.com (CRM) , AT&T (T) and Verizon (VZ) .
Best Bank Stocks To Invest In 2018: MDU Resources Group, Inc.(MDU)
- [By Lisa Levin]
In trading on Monday, utilities shares fell by 1.08 percent. Meanwhile, top losers in the sector included South Jersey Industries Inc (NYSE: SJI), down 4 percent, and MDU Resources Group Inc (NYSE: MDU), down 4 percent.