Friday, September 25, 2020

"...A Massive Bubble Is Forming In The Rare Plant Market"

Who knew?
From ZeroHedge:
It isn't just the stock market that's experiencing a "rising tide" of both trillions in liquidity and inflation - it has now found its way to the rare plant market. 

Plants had been booming with millennials prior to the pandemic, as we noted in this piece last year. Now, with people cooped up in their house due to Covid, their popularity has skyrocketed. And where prices rise, speculators show up.

Jerry Garcia, who is 27 and collects tropical plants, told the Wall Street Journal  he had been "besieged" by people looking to buy his collection. He has sold cuttings of one ariegated Monstera Adansonii plant for $2,000 each. People pay can even pay up to $250 per leaf for the plant.

Garcia told the Journal: “It’s better than the stock market. I got a bunch of these plants when they were in the double digits, and now they are in the four-digit realm.”

One grower in Plantation, Florida, said she was working 12 hour days, 7 days a week to keep up with the "highest volume of orders" she has seen in two decades....
....MORE (pics)