NEW YORK, Nov. 5, 2015 /PRNewswire/ -- GreenWave Advisors, LLC an independent financial research and advisory firm serving the burgeoning cannabis industry, will release the second edition of  "The GreenWave Report: State of the Emerging Marijuana Industry – Current Trends and Projections". This report provides an unparalleled state by state review and analysis of market dynamics in the legalized U.S. marijuana markets and provides an outlook for industry growth through 2020.

Taking into consideration the outperformance of recreational use product sales noted in Colorado and Washington and the analysis of other regulated markets, the firm has raised its industry forecast to $25 billion from $21 billion by 2020, and expects current revenues to increase approximately 50% in 2015 to $4.8 billion from $3.2 billion in 2014. Separately, the firm maintains its expectation that if marijuana is legally sold in all states and D.C. by 2020, the consolidated market for retail medical and adult use sales could exceed $35 billion in the first full year of a federally legalized market 

The conclusions drawn from this report include a notable surge in infused product sales in select markets and a revised outlook on marijuana lab testing. Also included in the report is the "GreenWave State Marijuana Comp Table" which presents comparisons of key financial metrics between regulated marijuana markets. 

"The legal marijuana industry has continued to grow at a pace that has substantially exceeded our initial projections," said Matt Karnes, Founder of GreenWave Advisors, LLC. "As public support for legalization continues to mount (notwithstanding the convolutions of the Ohio ballot initiatives) we believe that 2016 may be a watershed year as several states including Arizona, California, Florida, Maine, Massachusetts and Nevada are expected to enact or expand marijuana use permissions."  Mr. Karnes added, "As data becomes increasingly available, GreenWave Advisors will continue to provide astute investors and other industry observers with institutional quality financial research and analysis."

This report will be available for purchase on the company website www.greenwaveadvisors.com. 

GreenWave Advisors, LLC is based in New York City and is the premier independent financial research and advisory firm serving the emerging cannabis industry. Some assumptions used in the firm's analysis were validated with wholesale market price assessments provided by Cannabis Benchmarks™, a division of New Leaf Data Services, LLC.

SOURCE GreenWave Advisors, LLC

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