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Below is a complimentary excerpt from an institutional research note written by our Cannabis analysts Howard Penney and Daniel Biolsi. If you are an institutional investor interested in accessing our research email sales@hedgeye.com |
Colorado Has Record Adult-Use Sales In June
Recreational sales in Colorado hit a record high in June, at $158.1M, growing 6% MoM and 29% YoY. At $40.7M, medical sales decreased -5% MoM but grew 37% YoY.
Combined, recreational and medical marijuana sold was $198.1M. YTD, total sales in Colorado are closing in on the $1B mark, with medical marijuana comprising 21% and recreational making up 79% of YTD total sales.
a New Initiative To Legalize IN D.C.
Legalization activists recently filed a ballot initiative in D.C., titled the “New Modern Day Cannabis Justice Reform Act,” to legalize marijuana sales in the nation’s capital.
The measure proposes to: cease and desist all levels, investigations, prosecutions regarding cannabis; make unlawful search, seizure, and arrest based on probable cause that indicates the presence of cannabis products; persons currently arrested or previously convicted for cannabis products shall be expunged.
The proposal has yet to collect enough valid signatures for the ballot.