Cannabis Monthly Q&A + Industry Trends Call
Call Details:
|
On Thursday, we will be hosting our monthly Q&A plus industry trends call where we will highlight how pricing and traffic are driving sales across the adult-use and medical cannabis market in North America. Florida saw September cannabis sales come in at ~$139M which is a 3.1% decline MoM while units sold were up 1.5% MoM. This is just another market that has seen prices fall since cannabis sales have become legal in the state as more and more capacity is brought online. Price per unit in Florida we down 4.5% MoM and down 4.1% YoY. Florida is not the only state facing these pressures, we will highlight the entire U.S. and Canadian cannabis markets during our call next week.
Germany Legalization Efforts Leaked.
The German government's cannabis legalization effort was leaked this Wednesday which gave us some interesting insight into how post-prohibition might look in the country. The plans call for all cannabis advertising that promotes consumption to be illegal but individuals 18 years of age or older are allowed to possess up to 20 grams of weed. The proposal will also allow the cultivation of up to ten plants if it's for personal use. The interesting nugget from the leaked documents was that the amount of THC in cannabis products sold to adults over 21 should not exceed 15% and for those aged between 18 and 21, the THC in marijuana products limit is 10%. Legalization in this country probably won't occur until 2024 at the earliest, and while this is just a proposal, there is reason to get excited about the mindset shift occurring in Europe.
AYR In New Jersey.
Ayr Wellness (AYRWF) announced yesterday the rollout of several brands from its national portfolio to the New Jersey market. New Jersey cannabis consumers can now purchase products from brands including Lost in Translation (LIT) award-winning, premium whole flower; Kynd premium whole flower; Road Tripper whole flower; STIX pre-rolls; Entourage broad-spectrum, terpene-driven vape cartridges; Secret Orchard fruit-forward vape cartridges; and Wicked soft lozenges. All brands, with the exception of Kynd and Road Tripper, are currently available to both medical patients and adult-use consumers. Kynd and Road Tripper will debut on adult-use menus in the coming weeks. “Since acquiring Garden State Dispensary, it has been Ayr’s mission to provide an elevated experience for all New Jersey patients and consumers. The introduction of our portfolio of high-quality brands to our menus marks a major milestone in carrying out that mission,” said Jonathan Sandelman, Founder and CEO of Ayr Wellness. “We know that our customers have diverse wants and needs, and it’s important to us that we meet them wherever they are in their cannabis journey.”
