DENVER BUSINESS JOURNAL — Today is the closest thing cannabis enthusiasts have to an official holiday, and it’s a three-day weekend. But what does that mean for the burgeoning industry? Big money a state that saw $1.5 billion in medical and retail marijuana sales in 2017, according to the Colorado Department of Revenue.
April 20, or “4/20” as it’s widely known, is shrouded in a sort of cannabis mythology. Believed to have originated as a secret meeting of weed-smoking teenagers in 1971, the date is now marked by celebrations, concerts and smoke-outs worldwide. Today, thousands are expected at Denver’s Civic Center Park for the 2018 Mile High 420 Festival, featuring rappers Lil’ Jon and Lil Wayne — and, of course, food vendors galore.
The date is also the single biggest sales day of the year for local dispensaries, according to BDS Analytics, a cannabis data firm founded by a Harvard MBA and former McKinsey & Company consultant.
Total Colorado sales (including both recreational and medical) topped $9 million on 4/20 in 2017, a 40.5 percent jump from the same day in 2016. The firm expects more marijuana to go out the doors this year, at least in part due to the day of the week on which the date lands.
Read more at the Denver Business Journal: https://bit.ly/2qN6Qxa
