420 with CNW – Massachusetts Legal Cannabis Sales Hit Nearly $24M during First Two Months

January 28, 2019 04:20:02

Massachusetts started retail sales of recreational marijuana on November 20 and nearly $24 million worth of cannabis has so far been sold in just two months, according to statistics released by the state.

The data released by the Cannabis Control Commission shows that cannabis products worth $23.8 million were sold by licensed dispensaries in the maiden two months since retail sales started.

The statistics also show that retail sales have been booming since the first day of legal recreational cannabis sales. For example, the two dispensaries that opened on the first day of legal sales made about $2 million in retail sales during the first five days when they were open.

Each retail sale attracts a 20 percent tax with 3 percent of that tax going to the local authorities while 17 percent goes to the state. You can therefore calculate how much tax Massachusetts earned from the sales made during the first two months after legal sales started.

It is also worth noting that Massachusetts is the first state on the East Coast to permit recreational marijuana. The population there has responded overwhelmingly to this new development.

For example, Cultivate, one of the first dispensaries to open in Leicester, attracted such large numbers that the city held an emergency meeting to discuss how to control traffic in the area. About 1,000 customers have been visiting the retail outlet each day.

Cannabis is such a hit in the area that people flag down each other to ask for directions and everyone knows where to buy marijuana.

Does this large number of customers affect customer service at the retail outlets? Not at all, if the reports from clients are anything to go by. Many reported that everyone was served properly and it was easy to make a purchase.

One Leicester resident even said that he flagged down a cop to ask for directions and found it pleasantly weird to ask a cop for directions to where pot could be bought!

The statistics of the people who are visiting the current dispensaries each day point to the possibility that not enough retail outlets have been licensed in the state, or not all that have been licensed have opened for business. Nevertheless, business is being conducted smoothly, which is a totally different story from what is happening in Canada. ChineseInvestors.com (OTCQB: CIIX), Canopy Rivers Inc. (TSX.V: RIV) and everyone in the cannabis industry hopes that the Canadian supply issues will soon end so that customers there can enjoy what those in Massachusetts are enjoying.

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