Maryland CANNABIS TRENDS.
In the month of January, Maryland recorded ~$38M in cannabis sales, which represents a sequential decline of 7.2% and a YoY decline of 12.4%. Unit volumes in the month were down 8.6% sequentially but is up 9.5% YoY. The average price per unit was up 1.6% sequentially and down 20% YoY.
CALL Replay | CANNABIS SPEAKER CALL W/ ADAM SMITH ON INTERSTATE COMMERCE
| Cannabis Subscribers Replay Link: CLICK HERE Consumable Pro Subscribers Replay Link: CLICK HERE |
On January 30th, California Governor Gavin Newsom’s Department of Cannabis Control sent a strong and well-reasoned argument to the state’s attorney general articulating the Governor’s belief that regulating commerce in legal cannabis between state markets would pose no additional legal risk to the state. The move heralds the arrival of a critical new phase of the struggle for a more rational industry. We spoke about the implications and possible time frames for this with Adam Smith.
AYR Appoints New CEO
Ayr Wellness (AYRWF) announced yesterday that Jonathan Sandelman has transitioned to Executive Chair, where he will continue to serve the Company’s Board of Directors, and David Goubert, current President of Ayr, has assumed the role of President and Chief Executive Officer. ”Mr. Goubert said, “I’m proud and humbled to take this step at an important time in the Company’s history. I look forward to continuing to work closely with Jon, the Board of Directors, and everyone at Ayr to realize the full potential of our Company’s exceptional assets, continuing to prioritize existing and future markets where we can invest to build meaningful depth. In my time so far with Ayr, I have been excited by our team’s collaborative efforts to align our organization with our key business objectives, deepen our relationships with our patients as we build Ayr into a truly customer-centric business, and in doing so, drive strong revenue and cash flow generation. We look forward to discussing our plans in further detail during the next quarterly earnings call in March.” Mr. Goubert joined from Neiman Marcus Group (“NMG”), one of the largest multi-brand retailers in the U.S., where he served as NMG’s President and Chief Customer Officer, responsible for the full P&L of the Neiman Marcus brand as well as all customer touchpoints.
