Marijuana’s big holiday, 4/20, is a huge day for cannabis sales. In fact, it’s the biggest one-day event of the year for the industry — last year between Colorado, Washington, Oregon and California 4/20, which fell on a Thursday, led to $36.3 million in sales according to cannabis market research firm BDS Analytics. By way of comparison, another huge sales day last year, the Friday of Labor Day Weekend, reached $25 million. Continue reading “Thinking 4/20 is Meh? Think Again — It’s Massive”→
It’s the opening chapter of California’s new era of regulated cannabis, and already a market disruption is underway.
Generally, retailers have ample product on store shelves for both adult use and medicinal cannabis consumers, but some brands are now in short supply. Prices are mostly stable, though new state taxes on legal purchases have meant sticker shock for customers.
Meanwhile, the black market appears to be thriving anew—invigorated by dissuasive taxes on growers, plus licensing fees and frustrations over difficulties of entering the legal economy. If more cultivators aren’t licensed by the state, manufacturers for cannabis concentrates for vape pens, waxes, and infused edibles fear they may run short of their critical production component – leafy cannabis trim – by summer.