Arizona Cannabis Trends
In the month of December, Arizona recorded ~$156M in cannabis sales, which represents a sequential increase of 6.1% but a YoY decrease of 7.6%. Unit volumes in the month were up 8% sequentially and down 1.7% YoY. Pricing continues to be a headwind in this market, with an average unit price decrease of 1.8% sequentially and down 6% YoY. The pricing headwind topped out back in March when we saw a decrease in pricing by over 20% in the month compared to the year before.
National Cannabis Roundtable
The National Cannabis Roundtable was formed back in 2019 and is a non-partisan alliance of cannabis companies and ancillary services and solutions providers working to advance cannabis policy in the United States. Today they announced Gary Santo, CEO of TILT Holdings, has been appointed to the Board of Directors. "The National Cannabis Roundtable has been and continues to be at the forefront of federal cannabis policy,” said Gary Santo, TILT’s CEO. “While the industry made some important gains, including a presidential pardon of all federal convictions for simple possession of marijuana and the review of the scheduling of cannabis under federal law, unfortunately, the SAFE Banking Act failed to pass Congress. The failure of the SAFE Banking Act to pass the Senate shows once again there is still more work to be done. As a member of the NCR, TILT will continue to advocate for access to traditional financial services and capital markets for cannabis businesses, as well as the elimination of tax barriers such as 280E.”
Curaleaf expanding in Florida
Curaleaf Holdings (CURLF) announced today the opening of its Palm Beach Gardens dispensary as well as the expansion of BlueKudu-infused chocolate flavors available on Florida retail menus. This new opening is a 4,500 sq. ft. dispensary, and starting tomorrow, Florida patients will have access to two new flavors of BlueKudu artisanal-infused chocolates: espresso dark chocolate and caramel milk chocolate. "We are thrilled to continue expanding access to medical cannabis for Florida's growing patient population and to bring more premium edibles to the state with our new BlueKudu products," said Matt Darin, CEO of Curaleaf. "We look forward to welcoming patients in the Palm Beach area with an unrivaled retail experience and the high-quality, trusted cannabis products they can rely on."
