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Cannabis sales in Michigan hit $984.6 million in 2020. Medical cannabis sales accounted for $474 million for the year, while adult-use sales reached $510.7 million.
Rhode Island and the Soboba Band of Luiseno Indians received approvals from the U.S. Department of Agriculture (USDA) for its hemp regulatory proposals.
The Christmas and New Year’s holidays marked the single biggest cannabis sales period of 2020. The period between Dec. 18 and Dec. 24 generated roughly $427 million, according to
Akerna (NASDAQ:KERN). The largest sale day of the period was Wednesday, Dec. 23, with $87.3 million, making it the third largest cannabis sales of the year, just behind Green Wednesday with $87.4 million. Exceeding all expectations, New Year’s Eve was the single biggest sales day of 2020 with $89.4 million.
Ayr Strategies equity offering benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
At the same time, Canada is experiencing growth from the derivatives market as cannabis 2.0 begins to make traction in the latter part of the year. Besides that, the U.N. has deemed cannabis as a medicinal drug and removed cannabis from the dangerous drug schedule it was before. Currently, Mexico is in the process of becoming one of the worldâs largest additions to the cannabis market. This is due to an upcoming vote that will legalize recreational use throughout the country. All signs in 2020 point to the possibility of growth for the cannabis industry in many aspects.Are Pot Stocks A Good Investment For 2021?