Colo. pot stores can't keep stock on shelves

    10:00 AM, Jan 9, 2014   |    comments
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    DENVER, CO (CBS) - Barely a week after sales of recreational marijuana became legal in Colorado, some places can't keep it on the shelves.

    Business is going so well that one chain, the Clinic Colorado in Denver, closed early yesterday. They ran out of their supply of recreational marijuana. Tracy Spencer didn't get what she game for. She said, "There's a lot of people here in Colorado who bombarded any dispensary that went to retail sales."

    At Evergreen Apothecary in Denver, there has been a line every day since Jan. 1. A third of the sales here have been to so-called 'potbirds', visitors from other states. Raymond Cappabianco drove all the way from Florida. He said, "I think it is a money making operation all the way. It's going to bring money and it's going to bring people."

    To accommodate the crow, the shop's owner, Tim Cullen, is limiting his store's sales to an eighth of an ounce, rather than the legal limit of a full ounce for Colorado residents, and a quarter once for out-of-state visitors. Cullen said, "We are managing the line, so if we were able to offer everyone an ounce, we would be looking at 5 to 10 minutes per transaction, we are trying to move huge volumes through here. So by limiting choice, we are moving the lines much quicker."

    Demand has been so strong, the price of pot has doubled to $400 an ounce. Supply is limited because the 40 stores currently licensed and selling in the state must grow their own supply though the majority of retailers say they are well-stocked and ready to handle high demand.

    Denver councilman Charlie Brown originally opposed legalizing marijuana. He worried about his city's image. But he's now helping write the rules for the city's newest industry and says the first week of steady sales has gone smoothly. He said, "I was fearful of shall we say cannabis chaos, but that didn't' turn out. It was really a marijuana milestone."

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