Massachusetts hits $24M in adult-use marijuana sales as state issues 100th license

Recreational marijuana shops in Massachusetts have racked up nearly $24 million in sales since the initial ones opened two months ago.

That’s according to the Cannabis Control Commission (CCC), the state’s marijuana regulatory agency, which also this week issued its 100th recreational marijuana business license and moved three shops closer to opening their doors to customers, The Boston Globe reported.

To date, only eight rec MJ retailers have begun full sales, with a ninth upcoming. The CCC anticipates four to eight shops to open each month, the Globe reported.

The 100 licenses have gone to retailers as well as growers, edibles makers and testing labs.

The first retail stores in Massachusetts – and anywhere on the U.S. East Coast – began operations Nov. 20 in Northampton and Leicester.

The commission reported aggregate gross sales of $23.8 million through Jan. 20, including $3.4 million in the most recent week.

Annual recreational retail sales are expected to total $1.3 billion-$1.6 billion in a few years, according to Marijuana Business Daily estimates.

Since officials did not make forecasts for early recreational marijuana sales, so there’s no clear way to measure whether stores are exceeding or falling below expectations.

– Associated Press and Marijuana Business Daily

2 comments on “Massachusetts hits $24M in adult-use marijuana sales as state issues 100th license
  1. animan785 on

    Legal Prices are too high. The spoiled-brats of the wealthy class are staying nicely medicated and making huge profits while the majority of the poor, common working-class are turning to the black market for cheaper weed deals.

    Last week there was a big bust in Springfield and the overgrown boy-scouts stole 200 pounds of bud that poor people would have had access to. Now they have nothing and most cannot afford the prices of the legal stores.

    So much for the “legal” market. Wealthy people rake in the big bucks and serve themselves while poor people suffer, as usual.

    Reply
    • AtlasDrugged420 on

      It’s like $15 a gram, $50 an eighth at the shops around Springfield. If they’re too poor to afford that they’re too poor to be smoking. I swear the only bad thing about legalization is the friggin whiny SJW’s complaining about poor people not being able to afford it or about “Wall Street” money being involved. Stop being stupid liberals and enjoy your weed.

      Reply

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