I nearly fell out of my chair when I saw a pack of Marlboro (PM) marijuana cigarettes being promoted online.
As the story goes, Marlboro’s “M” series cigarettes are available in four states — Washington, Oregon, Colorado and Alaska.
And prices start at $89 per pack — say what?
Heck, I even saw the new Marlboro box design (see image to the right).
While it’s true that tons of venture capital dollars are pouring into the pot boom, the Marlboro story doesn’t add up.
For starters, most marijuana investments are junk.
Plus, if “Big Tobacco” had truly made such a monumental pivot, I’d know.
So are Marlboro “M” cigarettes real or a hoax?
And where is the “budding” marijuana industry going next?
Here’s what you need to know now.
Dial M For Misleading
The rumors about big tobacco companies selling marijuana cigarettes are more than 40 years old.
But never before in history has America been closer to legal pot — for medical and recreational use.
The retail marijuana industry is currently worth about $7 billion in the U.S. And GreenWave Advisors projects that the weed business will top $30 billion in value by 2021.
But don’t believe the latest fake news about Marlboro.
You see, Big Tobacco doesn’t need weed.
Believe it or not, tobacco industry profits are at a 10-year high.
According to Euromonitor International, the number of people who smoke cigarettes has declined every year in the last decade. But The Wall Street Journal notes that over the same period, Big Tobacco profits have nearly doubled.
And with electronic cigarettes sales to younger smokers soaring, Big Tobacco doesn’t even need to sell “joints” to stay relevant to a new generation.
To top it off, marijuana is significantly more regulated than cigarettes. And weed isn’t even legal at the federal level.
