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THE STATE OF COLORADO: CANNABIS PURCHASING TRENDS SUGGEST A SWITCH FROM “CONSUMER” TO “PATIENT” AS DISPOSABLE INCOME LEVELS LESSEN DURING COVID-19 PANDEMIC

The state of Colorado released its marijuana tax revenues for July which implies total monthly sales of $206.7M (+ 7% MoM; 20% YoY) with medical marijuana revenues at $42.4M (+4% MoM; 42% YoY) and recreational use ~$164.2M (+8% MoM; 16%YoY). We estimate that the average cardholder spend in the month ticked up to ~$510 from ~$490 in June ($338 July …

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