Cannabis sales in Colorado set fresh record in 2021
The Colorado Department of Revenue said its legal cannabis sales hit a record of $2.23 billion in calendar year 2021, up from $2.19 billion in 2020, the previous high water mark. Marijuana sales have increased every year since the first year of state sales in 2014 when the total was $683.52 million. Colorado’s combined cannabis sales for 2014-2021 now total $12.2 billion. Benchmark analyst Mike Hickey said the trend of cannabis sales growth is “likely encouraging to the cannabis industry considering Colorado is the most mature recreational marijuana market in the U.S.,” according to a research note published on Monday. The AdvisorShares Pure US Cannabis ETF is up 1.5% on Monday, compared to a drop of 0.1% by the Nasdaq. The MSOS ETF is now down 3.6% so far in 2022 versus a year-to-date dip of 11.9% by the Nasdaq.
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