After surging to end the year and then falling in January and February, Illinois adult-use cannabis sales rose 11.9% sequentially in March to $134.8 million, which was up 1.0% per day. March sales were below December’s and the record in October, but they rose 2.9% from a year ago:
After increasing 106% in 2021 and then 13% in 2022, year-to-date adult-use sales are up 5.8% in the first three months to $382.2 million.
During March, sales to non-residents decreased from 25.5% in February to 25.0%, the lowest since May 2020, perhaps trigged by adult-use legalization in neighboring Missouri:
The state separately releases sales from its medical program, and the release for March was published today as well. Sales rose 8.9% sequentially to $29.0 million, which was down 9% from a year ago:
For March, combined adult-use and medical sales totaled $163.8 million, which was up 11.3% sequentially and rose 0.5% from a year ago:
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