Canopy Growth Corp (WEED)

[Bonno]

Numbers from the Colorado revenue department show recreational and medical marijuana sales continuing a downward trend compared to this time last year.

In March, Colorado marijuana stores and dispensaries sold $162.5 million worth of cannabis.

That total was slightly up from $145.3 million in sales from the shorter month of February but 22% lower than March 2021’s $207.1 million, according to Denver alt-weekly Westword.

March 2022 is the 10th month in a row that Colorado posted a lower sales total year-over-year.

While sales often dip between the end-of-year holidays and 4/20, the unofficial marijuana holiday, the overall trend suggests that buyers increased their spending on cannabis during the COVID-19 lockdowns when they had more disposable income stemming from federal stimulus checks and not being able to spend on entertainment such as restaurants and travel.