Colorado cannabis sales hit new all-time high in May at more than $192 million

That’s the biggest single-month tally since recreational sales began in 2014

Cannabis sales in Colorado set a new monthly record in May, hitting their highest level since recreational sales began in 2014.

Dispensaries sold $192,175,937 worth of products in May, according to data from the Department of Revenue’s Marijuana Enforcement Division. That’s up about 29% from April and an increase of 32% from May 2019.

Sales at both medical and recreational pot shops hit monthly all-time highs, at $42,989,322 and $149,186,615, respectively. Collectively, both sectors have sold more than $779 million in 2020 and paid more than $167 million in taxes and fees to the state.

Roy Bingham, co-founder and executive chairman of BSDA analytics firm, said a confluence of several factors caused by the pandemic are likely causing the increase in sales. For one, many people may have more leisure time and are spending more time at home, where cannabis is typically consumed. Existing marijuana consumers also are buying more each time they go to the dispensary, a trend that started with stocking up in March when Colorado went under a statewide stay-at-home order. [Read More @ The Denver Post]