8 Sep 2020
California’s cannabis industry has beaten all odds this year with profitable results that show cannabis sales rising, despite negative predictions in 2019.
Last year, California’s cannabis industry professionals confidently predicted that the cannabis market growth will decline, with sales plummeting, and investors uninterested in the cannabis space. Experts even went on to say that many cannabis companies will fail, many will go in court-appointed receivership, and even more cannabis businesses will exit the industry.
To everyone’s surprise, the opposite has proven true.
Not only does California boast the largest cannabis market in the United States, but the reverse has happened in the State– cannabis sales have continued to increase. Seattle-based Headset– a marijuana industry data analytics firm– reported that the legal cannabis market has reached record-breaking sales of $348 million in July for recreational cannabis products. To give some contrast, last year in July, cannabis sales amounted to approximately $260 million.
thedalesreport.com/business/...s-despite-reverse-projections/
California’s cannabis industry has beaten all odds this year with profitable results that show cannabis sales rising, despite negative predictions in 2019.
Last year, California’s cannabis industry professionals confidently predicted that the cannabis market growth will decline, with sales plummeting, and investors uninterested in the cannabis space. Experts even went on to say that many cannabis companies will fail, many will go in court-appointed receivership, and even more cannabis businesses will exit the industry.
To everyone’s surprise, the opposite has proven true.
Not only does California boast the largest cannabis market in the United States, but the reverse has happened in the State– cannabis sales have continued to increase. Seattle-based Headset– a marijuana industry data analytics firm– reported that the legal cannabis market has reached record-breaking sales of $348 million in July for recreational cannabis products. To give some contrast, last year in July, cannabis sales amounted to approximately $260 million.
thedalesreport.com/business/...s-despite-reverse-projections/
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