Illinois Adult-Use Cannabis Sales Surge 15% in December to End First Year at $669 Million

The Illinois Department of Financial and Professional Regulation released net cannabis revenue from adult-use sales for December today, with monthly sales reaching $86.86 million, up 15% from November:

For the first full year of the state’s program, sales totaled $669 million. 26% of sales were to customers visiting from out of state. For Q4, adult-use sales improved by 23% over Q3. Medical cannabis sales are reported separately and haven’t been updated yet for December. Through November, the year-to-date sales were $331 million, which assures that the state’s total cannabis sales for 2020 will exceed $1 billion.

Several large cannabis companies are serving the Illinois market, including Cresco Labs (CSE: CL) (OTC: CRLBF), which has three cultivation  facilities, Curaleaf Holdings (CSE: CURA) (OTC: CURLF), Green Thumb Industries (CSE: GTII) (OTC: GTBIF),  which has two cultivation facilities, Jushi Holdings (CSE: JUSH) (OTC: JUSHF) and privately held Verano Holdings.

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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