Michigan Marijuana Sales Rise 9% To $221.7 Million In December, Expert Says

Zinger Key Points
  • The price of flowers for recreational use saw a drastic decline as supply continues to expand.
  • After years of delays, Detroit was on the road to issuing long-awaited recreational marijuana licenses.

Michigan cannabis sales climbed 9% in December as compared to November and increased 32% from a year ago to a record $221.7 million.

“This was a little slower than the 33.2% annual growth in November," wrote Alan Brochstein, CFA and founder of New Cannabis Ventures and 420 Investor.

Graph by New Cannabis Ventures

“With medical sales falling 59.2% from a year ago to $13.4 million, down 1.1% sequentially, and adult-use sales expanding 54.3% year-over-year to $208.3 million, up 9.7% sequentially with one more day than in November,” according to the Michigan Marijuana Regulatory Agency, which broke out sales by medical and recreational use.

Brochstein's new report noted, “The state breaks out sales by category and provides pricing detail by category, for both medical and adult-use.”

Continue reading this report on New Cannabis Ventures.

 

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Photo: Courtesy El Planteo

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Posted In: CannabisNewsMarketsAlan BrochsteinCannabis in MichiganmichiganMichigan Cannabis salesMichigan Marijuana Regulatory Agencypremium
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