Colorado Marijuana Sales Go Through The Roof In 2016
The summer of 2016 turned out to be quite lucrative for Colorado’s marijuana industry.
Legal marijuana shops tallied up $126 million in medical and recreational cannabis sales in August, setting a new monthly record, according to Colorado Department of Revenue data made public Wednesday. The young industry’s previous monthly high was set just a month before, with $122.67 million of revenue in July.
At that time, economist Adam Orens, with BBC Research and the Marijuana Policy Group, attributed the sales surge to a seasonal spike:
“That’s when I think more people — Colorado residents plus tourists — people are just out and about,” he said. “There are backyard parties, it’s events of all different kinds, concerts, festivals. I believe it drives more people to consume more alcohol and marijuana.”
Last year told a similar tale. Aside from December, the biggest revenue months for marijuana were July, August and September....
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