Ayr New FL Location
Ayr announced yesterday that they had opened their 38th dispensary location in Florida. The location will be located in Hollywood, FL, at 2119 Hollywood Blvd. Hollywood, FL is located on the coast between Ft. Lauderdale and Miami. The 3,300 sq. Ft. dispensary will be the city's first. Until recently, the Hollywood City Council had prohibited MMJ dispensaries within its borders. Jonathan Sandelman, CEO of Ayr, said, “We continue to execute on our Florida plan, opening dispensaries in prime locations like the under-served community of Hollywood. In addition, we are enhancing our cultivation efforts to make us the largest cultivator of high-quality cannabis in the state, and our updated product offerings, including a diversified strain selection and launch of Origyn Extracts and Big Pete’s Cookies, are positively improving the customer experience. We are excited to be the first dispensary to serve the patients of Hollywood and provide to them more convenient access to safe, high-quality medicine.” According to our most recent tracker, the Florida market continues to show strong patient growth: According to our most recent tracker, FL had 584,803 registered patients, which is a 59% increase from last year.
Jones Soda Co.
Craft soda company Jones Soda announced that it is issuing a $2 Million Convertible Debenture to develop cannabis and CBD lines. Jones Soda Co. is known for its unconventional flavors and user-designed label artwork. They have a strong brand image in both the US and Canada. “We believe that Cannabis-infused beverages and edibles are a perfect fit for the iconic personality of the Jones brand and that the proposed transactions will lay the groundwork for a strategic transformation of the Company to an additional business line that we feel builds on our current business model,” said Mark Murray, President, and CEO of Jones. Jones Soda (Ticker JSDA) was up 41% yesterday after this announcement was made. The company had LTM revenues of $12 Million and has a market cap of $41 Million.
Record-Breaking Sales
July 2nd, the Friday before July 4th, was the 2nd highest day of revenue for US cannabis. This was behind....you guessed it.....4/20. On July 2nd, the US cannabis industry had $89.6 Million in sales, while during 4/20, it had $111 Million. This data is according to Business Intelligence provider Akerna. "The 4th of July weekend has historically been in the top 10 sales days of the year for cannabis, and this years' holiday weekend supported that trend," said James Ahrendt, Business Intelligence Architect at Akerna.
Other values for the holiday weekend (7/02 - 7/04):
- Category sales:
- Flower – 48.5%
- Cartridge/Pens – 32%
- Concentrates – 10%
- Infused Edibles – 8%
- Other – 1.5%
- Demographics:
- 62% male
- 38% female
- Sales by age groups:
- Under 30 – 27%
- 30-40 –31%
- 40-50 – 20%
- 50-60 –12.5%
- Over 60 – 9.5%
- Average order total:
- Medical – $125.15
- Adult-use – $79.70
- Average basket size:
- Medical – 2.98 products
- Recreational – 3.02 products
- Total weekend sales:
- Approximately $182,600,000
Source: Akerna
