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>> High Times is hitting the big time. Sources tell Reuters the publisher of the iconic pot enthusiast magazine plans to take the company public in the fall, as an increasing number of US states legalized the drug. Reuters Jessica Toonkel broke the story.>> High Times is an example of a cannabis-related company that doesn't actually touch marijuana, right?
Cuz marijuana is still illegal federally, but there's a whole industry growing around it. And High Times, while known for their magazine, there's a lot of potential that you can do there. But digitally with the brands, with events, and so, if you have millions of people who all of a sudden it's legal for them to smoke pot on the streets, that's a whole big community that you can capitalize on.
>> And the cannabis industry is booming. The market for pot is expected to exceed $22 billion in revenue in 2021, up from nearly $7 billion in 2016, according to research firm Arcview. That demand continues to grow despite efforts by US Attorney General Jeff Sessions to rollback federal protections for medical marijuana.
The magazine was founded in the 70s and has over 300,000 print and digital subscribers. High Times expects the list by October.