In the midst of a quickly growing cannabis industry, two entrepreneurs have taken the business of cannabis to a new level; a stock-market style cannabis price index.
Launched in February by creators Joseph Slotin and Matthew Hudson, the new online Cannabis Price Index is comprised of data, such as in-store listings, compiled from legal outlets; right now it’s solely based on medical cannabis sales, although they plan to show recreational prices as well once legal markets are in place. The primary goal is to determine the daily average price (and THC content) of cannabis per gram across the country. Additionally, this site provides a perfect comparison of prices for patients, ranging from the cheapest cannabis available, to the most expensive on the market.
Patients can search based on specific cities, products and prices – for both concentrates and dried cannabis. Those browsing can search categories for favorite types of cannabis, via lists like the Kush Index, the Fruit Flavored Index, the Kief Index, the Bubble Hash Index, or even for individual strains such as the Grape Ape and Jack Herer Indexes. Each listing not only shows a range of locations where patients can find the product they are looking for with side-by-side price comparisons, it also links directly to their websites so you can find the businesses easily.
Ideally, this index will help patients, especially those new to the market, better understand what the standard is for medical cannabis, in regards to price and quality.
According to Mr. Hudson, the Cannabis Price Index is similar to cannabis what Priceline is to index airline prices.