Cannabis Sales In Maryland Top $87M In First Month Of Adult-Use Sales, Shattering Expectations
Portfolio Pulse from Maureen Meehan
Maryland's cannabis sales reached $87.43 million in the first month of recreational sales, exceeding expectations. The state's cannabis retailers, including TerrAscend (OTCQX: TRSSF) and Curaleaf Holdings (OTCQX: CURLF), are delighted with the results. The Maryland Cannabis Administration anticipates the industry will generate $600 million in retail sales during the first year of adult-use cannabis legalization.
August 04, 2023 | 12:33 pm
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POSITIVE IMPACT
Curaleaf Holdings, which operates four dispensaries in Maryland, reported almost three times more customers in July than in June. The company is likely to benefit from the strong cannabis sales in the state.
Curaleaf Holdings reported a significant increase in customers in July, indicating strong sales. Given the overall strong cannabis sales in Maryland, the company is likely to see increased revenues and potential growth.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
TerrAscend, which operates several shops in Maryland, is likely to benefit from the strong cannabis sales in the state.
Given the strong sales of cannabis in Maryland, TerrAscend, which operates several shops in the state, is likely to see increased revenues and potential growth.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80