Michigan's Cannabis Market Hits $837M Record: What's Driving The Boom In The Midwest?
Portfolio Pulse from Nicolás Jose Rodriguez
Michigan's cannabis market reached a record $837 million in Q2 2024, driven by strong adult-use sales and market expansion. Despite a decline in medical use sales and average revenue per retailer, the market remains robust with significant contributions from public companies like Ascend Wellness, Grown Rogue, TerrAscend, and Red White and Bloom. The market's growth is supported by new dispensaries and increased competition.
July 18, 2024 | 3:13 am
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POSITIVE IMPACT
Ascend Wellness (OTC:AAWH) is highlighted as a key player in Michigan's thriving cannabis market, contributing to the record $837 million in sales for Q2 2024.
Ascend Wellness is mentioned as a leading company in Michigan's cannabis market, which has seen record sales. This positive market performance is likely to boost investor confidence in AAWH.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Cresco's High Supply (OTC:CRLBF) is noted for leading various segments in Michigan's cannabis market, contributing to the state's record sales.
Cresco's High Supply is recognized for its leadership in Michigan's cannabis market, which is experiencing record sales. This positive trend is likely to support CRLBF's stock performance.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Grown Rogue (OTC:GRUSF) is identified as a notable public company in Michigan's cannabis market, contributing to the sector's growth.
Grown Rogue is recognized as a significant player in Michigan's cannabis market, which is experiencing robust growth. This positive trend is likely to reflect well on GRUSF's stock.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
TerrAscend (OTC:TSNDF) is highlighted as a key contributor to Michigan's record cannabis sales, indicating strong market performance.
TerrAscend is mentioned as a key player in Michigan's cannabis market, which has achieved record sales. This positive market performance is likely to benefit TSNDF's stock.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70