Florida Tracker
AYRWF is a USA Long.
Florida sales were up this past week by 8% in terms of THC and flat for CBD sequentially. Patient growth was up approximately .5% WoW. Curaleaf and Ayr have gained significant market share in the past 8 weeks compared to the other MSOs in FL. AltMed and Surterra have lost market share at the same time. Both Trulieve and Cansortium added one dispensary this past week, bringing the total in the state up to 343. Overall, Florida continues to show impressive growth as a medicinal-only market. From the most important statistic on the table, market share change, Curaleaf and Ayr have performed the best in Florida. This is especially impressive for Ayr as they have 65% of their assets concentrated in Florida.
Outrageous Medical Pricing in Some States
Many individuals who live in medically legal states are still buying pot off the streets despite owning a medical card for one simple reason; it's far cheaper. “I'm paying a lot of money every month in out-of-pocket copays for my medication,” said McClellan, a resident of Minnesota who recently legalized medicinal. “On top of that, I have to pay ridiculous prices for medical cannabis in the state of Minnesota. "He said he spends about $125 to $150 a month on black market weed. The equivalent product purchased through the state program would cost him about $500, McClellan said. A medical card in most states costs between $75 and $200, depending on the state. Aside from this, the card must be renewed each year, which adds to the cost and inconvenience. In New Jersey, which is the highest priced medicinal market in the country, an ounce of weed costs $500. For comparison, in Michigan, which is still slightly undersupplied, an ounce is $265. This exorbitant pricing in NJ is caused by the sheer lack of dispensaries in the state. As long as states' gatekeep licenses, there will be an undersupply of cannabis, hurting the consumer. In addition to adding licenses, states must make it easier to obtain a medical card as there are too many obstacles a patient must face to acquire legal, medical weed.
Canadian Flower Prices
Canada hit a new record this past week: All-time-low flower prices. A 1/8th Oz. of flower now costs $29.60 on average in the country. One year ago, this number was $33. With the average prices dropping like rocks, margins are getting cut razor-thin for companies. Only companies such as Village Farms who have low-cost production down, will operate in this type of environment. We expect prices to continue to fall in Canada as the illicit market influences flower pricing, and there is still a thriving illicit market.
