Higher Education: Another strong month of US sales

May and June showers to bring July flower? Cannabis looking recession resilient!

Another month of big changes across industries. Fireworks socially and via sales, specific to cannabis channels. See the recent rundown of industry news below 👇


Wondering how COVID-19 is affecting cannabis sales?

The top trends we spotted:

📊More than 2 1/2 months into the coronavirus pandemic, state by state sales are a mixed bag, but overall consumption is increasing, suggesting that the cannabis market at large is able to withstand significant economic instability. Read more.

💻 Due to COVID-19 gaining digital awareness in the cannabis space is harder than ever. Not only do cannabis marketers have to navigate scores of disparate regulations but they also have to differentiate themselves among an intensely congested market. Read more.

🏪As stay at home orders are lifted, dispensaries are having difficulty rehiring and transitioning back to in-store sales. Read more.

📈The Arcview Group is projecting that global legal cannabis sales will grow 38% to $20.4 billion in 2020. Read more.

🌿States are ramping up legalization. 10 states are currently looking to legalize medical marijuana, recreational cannabis, or both at the same time. Read more.

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Canopy x Acreage

Canopy Growth and Acreage Holdings have amended their expansion agreement which was originally agreed upon on April 18th, 2019. The original deal was valued at around $3.4 billion. The updated deal is approximated to be around $900 million. The amended arrangement provides for up-front cash payments to Acreage shareholders of $37,500,000. The agreement will also create 2 new classes of shares: fixed shares and floating shares.

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Aurora in Transition

Aurora Cannabis Inc. just released details on their complex new transformation plan. They have started to close 5 of their facilities over the next two quarters and focus on production at their most efficient sites. Aurora expects to record production asset impairment charges of up to $60M during Q4 2020. In addition, the company is also reducing the number of employees by a significant amount. Approx. a 25% reduction of their SG&A staff and 30% of their production staff.

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MA is back in biz

After a 2-month shutdown of recreational sales in Massachusetts due to the coronavirus, the recreational market has opened back up. In the first week since reopening retailers netted 13.6 million, which is around 60% of the total from the same week last year. Early 2020 recreational sales in Massachusetts were all-time highs, and we expect to see that kind of growth as the market stabilizes.

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States Going Recreational

Top 4 states on the verge of going recreational/medical:

  • New Jersey

Both of New Jersey’s legislative houses voted in favor of putting an amendment on the ballot that would legalize marijuana.

  • Arizona

In 2016 48% of people voted yes on Arizona’s Prop 205 to legalize marijuana. Historically, when adult-use props appear on a ballot the second time, they pass.

  • Mississippi

Despite being a majority conservative state, “A survey conducted by Millsaps College and Chism Strategies earlier this year found that 67% of respondents favored the idea of legalizing access to medical cannabis, with just 24% opposed.”

  • South Dakota

South Dakota is the first state to put medical and recreational cannabis on the ballots at the same time.

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Stocks on the Rise

The Public Cannabis Company Revenue & Income Tracker managed by Cannabis Ventures tracks and ranks the top cannabis stocks. A large majority of the companies revenues are rapidly increasing.


Aurora Cannabis: 35% Q-Q growth

Scotts Miracle-Gro: 16% Q-Q growth

GW Pharma: 11% Q-Q growth

Green Thumb Industries: 35% Q-Q growth

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