Why Cannabis Sales Are Down In Massachusetts And New Mexico: The Numbers Behind The Dip
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 08 2024
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Source: Benzinga
Market Performance Overview: The cannabis industry in key U.S. markets shows mixed results, with California leading in tax revenue while Massachusetts and New Mexico experience slight declines in sales; Massachusetts saw a 1% decrease in November sales compared to October, and New Mexico's sales fell by 2% from the previous month.
California's Tax Revenue: California generated $250.5 million in cannabis tax revenue for Q3 2024, contributing over $6.5 billion since 2018, despite the elimination of the cultivation tax in July 2022, indicating the market's ongoing financial significance.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
