How Much Did New Jerseyans Spend On First Day Of Cannabis Sales? Yes, There Was Enough Weed For Everyone

Last week New Jersey kicked off long-awaited recreational cannabis sales.

On the first day of sales, April 21, over 12,000 customers spent nearly $2 million for cannabis, according to NJ's Cannabis Regulatory Commission (CRC).

Some worried about the availability of cannabis for both the recreational and medical markets, but there was plenty to go around. The MMJ supply remained strong, with 64,000 ounces of products sold to patients and their caregivers over the past month.

On 4/20, the day before the launch of the recreational market, dispensaries sold twice the daily average of cannabis products for the previous month.

"The data shows that the market is effectively serving both adult-use consumers and patients," Jeff Brown, CRC's executive director, said in a statement. "We continue to monitor inventory and access for patients and are prepared to take enforcement action against any ATC that does not meet the requirements for patient access and supply." 

Where To Buy Weed In New Jersey?

New Jersey cannabis regulators approved 34 conditional licenses and agreed that seven of the state's ten medical cannabis companies could begin sales after a series of disappointing setbacks and 17 months since cannabis was legalized at the ballot box in a referendum.

The five-member Cannabis Regulatory Commission (CRC) gave the green light to alternative treatment centers, which are multi-state operators, including Acreage Holdings ACRDF, Ascend Wellness AAWH, Curaleaf Holdings CURLF, Green Thumb Industries GTBIF, Columbia Care Inc. CCHW CCHW CCHWF (FSE:3LP), TerrAscend TRSSF and Verano Holdings VRNOF to sell at 13 locations across the state.

Photo: Courtesy of Benzinga

Posted In: CannabisNewsPenny StocksRetail SalesSmall CapMarketscannabis salesJeff BrownNew JerseyRecreational Cannabis

Missed the first wave of cannabis investments? Don’t make that mistake again.

Experts believe cannabis stocks have found their floor and are now poised for unprecedented growth.

Join Benzinga PotProfits. Our in-house canna stock expert, Michael Berger, is on a mission to uncover the most promising cannabis stocks poised for growth, even in a dull market. He leaves no bud unturned to bring you the juiciest potential double-digit opportunities!

Just this year, the PotProfits portfolio has seen smoking-hot gains like:

  • 47.10% with $GTBIF
  • 40.23% with $TCNNF
  • 21.50% with $VFF

But here's the kicker: Michael is about to release his next potential winners, and he's chomping at the bit to share these ticker symbols with you ASAP.

Don't miss out on the green rush!