The beat goes on.
For the third month in a row, and fourth time in the final 5 months, Colorado has set a new month-to-month record for cannabis revenues.
The $173.two million in cannabis sales recorded in August blew previous July’s prior record of $166.three million by an impressive four %. Most of this good results is attributed to the “recreational” half of the Colorado cannabis market place.
Recreational sales hit a new record in August at $141.87 million, and now officially account for 80 % of the all round Colorado cannabis market place. Even so, as The Seed Investor has previously explained, a substantial portion of “recreational” cannabis purchases are now getting created by “medicinal” customers.
Knowledgeable medicinal customers can nonetheless receive their “medicine” from recreational outlets. But these cannabis retailers ordinarily supply significantly higher solution wide variety.
For cannabis investors, what is thrilling right here is how rapidly Colorado’s cannabis sector is continuing to develop, provided that it was currently the world’s most-prosperous cannabis sector. In terms of the size of its sector (per capita) and its good results in eliminating the cannabis black market place, Colorado is top the way.
It was only in July 2019 that legal cannabis officially became a $1 billion (per year) sector in Colorado. But the record revenues in August now project to more than $two billion per year. And provided how the state is setting new sales records, $two billion in revenues appears like a quite conservative projection for Colorado more than the subsequent 12 months.