Just like that the busiest month in cannabis has come to a close. From record-breaking sales to the re-emergence of Cannabis holiday gatherings, April was a return towards cannabis normalcy.
Although numbers are still trickling in, MG Retailer reports that holiday sales saw a 148% increase compared to the previous four Wednesdays. In addition, cannabis data company Flowhub reports that this year’s 4/20 was the largest day for cannabis sales in the past four years.
Although one day’s sales is just a single data point for the entire year, the growth in 4/20 revenue provides strong evidence of the increasing economic impact of the cannabis industry.
KEY In The News
Tiby Erdely, one of KEY’s founding partners, recently penned an article for Benzinga focused on the evolution of cannabis investors. The article provides an overview of cannabis investment through the years and discusses how the accelerating “mainstreaming” of cannabis in generating increasing interest from institutional investors. Read the full article here
KEY Investment Partners also distributed a press release that details how cannabis investment is poised for growth as new investors enter the space. Read the full release here.
Cannabis Unlocked – The KEY Podcast
Cannabis Unlocked is KEY’s ongoing podcast series hosted by the founders atKEY Investment Partners, which features insights from some of the industry’s leading operators discussing their endeavors in cannabis and what it takes to have an impact in this emerging industry.
Jordan Youkilis (a Founding Partner at KEY) recently welcomed Chris Walsh, CEO of MJ Biz, and Alvaro Torres, Co-Founder, CEO & Director of Khiron Life Sciences Corp to one on one conversations which can be found on all podcast platforms.
New Mexico opened up its market to recreational cannabis sales at the beginning of the month. More info here.
New Jersey began recreational cannabis sales on April 21st, making it the 18th state to open a recreational market. More info here.
AFC Gamma, a cannabis real estate lender, lends Florida marijuana MSO Bloom Medicinals up to $82.5 million. More info here.
TerrAscend entered a definitive agreement to acquire a Maryland medical cannabis dispensary for $11.7 million, a deal that will enable the multistate operator to complete a vertical operation in the state. More info here.
Marijuana MSO, Jushi, expands its Nevada presence by closing on a $53.6 million purchase. More info here.
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