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Pot prices in Colorado surge as demand skyrockets

The Telluride Bud Company in Telluride, Colorado.
The Telluride Bud Company in Telluride, Colorado.
Telluride Bud Company

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UPDATE: January 9, 2014

Marijuana use has been legal in the state of Colorado for just over a week. Last Thursday, the day after legalization took effect, we rang up Adam Raleigh of the Telluride Bud Company to see how things were going.

At that point he had a two-hour line around the block, and suffice it to say that was emblematic of what was happening all over the state. In fact there's been so much demand, some $5 million in sales in the first five days according to the National Cannabis Industry Association. There have even been reports of rationing at some pot shops.

Raleigh joins the show again for an update on how his shop is doing, one week after pot was made legal in the state.

PREVIOUSLY: January 2, 2014

Cold, snowy weather and long lines did not deter people eager to take advantage of Colorado's new marijuana laws on the very first day they went into effect. Twenty four pot shops opened yesterday, one of them, Telluride Bud Company, belongs to our next guest, Adam Raleigh. 

Raleigh joins the show to talk about how business is going so far.