Many in Saskatoon could not be happier that recreational marijuana is set to be legal.
But the co-owner of a local head shop says he expects most people will be keeping the cheering under wraps, at least until the ink is dry on legislation the federal Liberals have committed to passing by July 2018.
Tucked away in a two-storey building on Broadway Avenue, B.O.B. Headquarters sells everything from bongs to board games.
Manager and partner Steve Nicholet said his customer base is a lot more diverse than one might think, with many preferring the occasional puff to alcohol.
“Literally, it’s everyone, it’s anyone. Young, old, elite professionals, to blue-collared Joes,” Nicholet said.
But Nicholet said a lot of users still prefer to keep a low profile because of the stigma that continues to be attached to weed.
“The legality of it plays a big role. Somebody doesn’t want to find themselves in a poor position that could jeopardize their dreams or their careers.”
However, he said he doesn’t expect pot users to stay in the shadows for too long once legalization arrives.
‘Rocket ride’ for marijuana stocks
Shares in companies looking to capitalize on the marijuana business have seen prices surge since the federal government set its timeline for legalization.
CKOM business analyst Paul Martin said he’d even go so far as to say stocks have been on a “rocket ride.”
“These companies, whoever is successful, will have an opportunity to generate revenue and probably significant revenue,” Martin said.
Martin said the investment community likes what it’s seeing right now. But once legalization becomes the law of the land, it will be a matter of seeing which companies are able to turn that capital into viable businesses.
“Any time you get a new product coming to market and one as exotic as marijuana and probably with the kind of margins that are going to be involved in it, entrepreneurs are going to be running around all over the place looking for how they can plug into it,” he said.