Colorado CANNABIS TRENDS.
In the month of February, Colorado recorded ~$109M in cannabis sales, which represents a sequential decline of 4.5% and a YoY decline of 12.3%. Unit volumes in the month were down 3.4% sequentially and down 4.1% YoY. The average price per unit was down 1.2% sequentially and down 8.6% YoY.
Oklahoma didn't get it done!
Oklahoma legalized medical cannabis nearly 5 years ago, and roughly 10% of the state's population currently hold a medical cannabis card. Activists in the state have been trying to push an initiative that would put adult-use legalization on the state's special election ballot. Those activists got their wish, but as of Tuesday night, the state reported that 90% of the ballots have been counted, and 63% of the voters rejected legalizing adult-use cannabis. So, Oklahoma will not have adult-use cannabis sales anytime soon. This initiative didn't have the support of the governor, and many politicians in the state were against legalizing cannabis.
Cannabis vs. Tobacco
57% of American adults would support “a policy prohibiting the sale of all tobacco products,” the Centers for Disease Control and Prevention (CDC) reported in a research brief last month. According to a recent survey, 59% of American adults believe marijuana should be legal for both medical and recreational use, while an additional 30% of Americans believe marijuana should be legal for medical use. We have a majority of adults in this country that supports prohibiting tobacco, while only 10% of adults believe in propitiating cannabis. I am not saying that tobacco will be banned, but the stigma around cannabis is improving and hopefully our elected officials in D.C. are paying attention to this.
