Cannabis Sales Growth Lifts in June

New Cannabis Ventures offers readers this easy-to-read exclusive summary of BDSA’s monthly cannabis sales data for 13 states.

We are happy with the improved reporting time made by BDSA, as we are now able to share June results. A month ago, we shared April results.

Cannabis sales increased 1.9% sequentially in May after plunging in January, rebounding modestly in February, bouncing nicely in the longer March and then seemingly skipping the 4/20 celebration in April, according to cannabis data analytics firm BDSA. With one more day, the growth on a per-day basis in May was -1.4%. In June, the sequential growth was -0.3%, and this was +3.1% on a per-day basis. In this review, we share the results by state, beginning with the western markets and then concluding with the eastern markets. In total, BDSA estimates that sales across the 13 markets totaled $2.08 billion during June, which was up 6.6% from a year ago.

Western Markets

BDSA provides coverage for Arizona, California, Colorado, Nevada and Oregon. In June, year-over-year growth was negative in 2 of the  5 states, with the annual growth rates ranging from -13.8% in Arizona to 13.0% in Nevada. Growth fell sequentially in just one of the states despite one less day during June.

Eastern Markets

BDSA provides coverage for Florida, Illinois, Maryland, Massachusetts, Michigan, Missouri, New Jersey and Pennsylvania. We are including Missouri and New Jersey for the first time. In June, year-over-year growth ranged from -0.8% in Missouri to +114.9% in Maryland, which began adult-use about a year ago. Note that Florida and Pennsylvania are medical-only markets. Sequential growth was positive in 4 markets despite one less day in June.  The annual growth was meager except in three states. Michigan’s growth of 10.2% was the slowest annual growth yet. Last year, it grew 39.2% in June from a year earlier.

For readers interested in a deeper look at cannabis markets across these thirteen states and more, including segmentation by additional product categories, brand and item detail, longer history, and segmentation by product attributes, learn how BDSA Solutions can provide you with access to actionable data and analysis.

Exclusive article by Alan Brochstein, CFA
Alan Brochstein, CFA
Based in Houston, Alan leverages his experience as founder of online community 420 Investor, the first and still largest due diligence platform focused on the publicly-traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Before shifting his focus to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst following over two decades in research and portfolio management. A prolific writer, with over 650 articles published since 2007 at Seeking Alpha, where he has 70,000 followers, Alan is a frequent speaker at industry conferences and a frequent source to the media, including the NY Times, the Wall Street Journal, Fox Business, and Bloomberg TV. Contact Alan: Twitter | Facebook | LinkedIn | Email

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