Colorado’s cannabis industry prepares for tough times as U.S. recession looms
Marijuana Business, Stocks, Finance, & Investing June 30, 2022 MJ Shareholders 0
Colorado’s cannabis industry is preparing for tough times as marijuana sales drop and economic problems pile up.
During the COVID-19 pandemic lockdowns, weed businesses serviced consumers eager to stock up on their favorite edibles, concentrates and pre-rolls. That high has since given way to a low for the industry, as less consumer spending means sales are falling in both the recreational and medical markets, according to Headset, which provides insights into cannabis consumer trends.
In Colorado, total sales for marijuana stood at $153 million in April – a 26% decrease compared to about $206 million sold that month last year, according to the Marijuana Industry Group, the trade association for the state’s cannabis industry. Medical sales specifically took a hit, plunging to about $20 million in April from almost $40 million last April.
MJ Shareholders
MJShareholders.com is the largest dedicated financial network and leading corporate communications firm serving the legal cannabis industry. Our network aims to connect public marijuana companies with these focused cannabis audiences across the US and Canada that are critical for growth: Short and long term cannabis investors Active funding sources Mainstream media Business leaders Cannabis consumers
No comments so far.
Be first to leave comment below.