For the tenth consecutive month, legal cannabis sales in Colorado have reached more than $100 million with March setting a new record of $132 million in combined medical and recreational sales, according to state Department of Revenue figures outlined by the Cannabist. Sales tax revenues derived from legal cannabis sales in March topped $22.9 million.
Adult use sales represented $93.3 million of March’s record-breaking sales, while medical cannabis sales totaled $38.4 million.
The March sales are 48 percent higher than sales from March 2016 and represents the end of the quarter, which saw sales up about 36 percent from the first three months of last year. In 2016, the quarterly growth year-over-year ranged from 29 percent to 36 percent. Monthly growth rates from 2015 to 2016 averaged about 34 percent, according to the Cannabist analysis.
View full story on Colorado’s record marijuana sales right here.
Seed Investor take:
Marijuana is the ultimate growth investment.
It’s growth is inevitable.
The only thing holding back is legal barriers which are steadily falling across North America and around the world.
It’s only a matter of time until you start seeing headlines like “Colorado Sets New Cannabis Sales Record in March” in other states which have approved legal marijuana sales, Canada, Australia, and Germany.
Read More
A Look Into The Future Of Marijuana Stocks
