Why Cannabis Sales Are Down In Massachusetts And New Mexico: The Numbers Behind The Dip
The cannabis industry continues to show mixed results across key U.S. markets, with notable developments in California, Massachusetts, and New Mexico. While California leads in tax revenue, both Massachusetts and New Mexico face slight declines in sales, reflecting broader market shifts.
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Massachusetts: A Saturated Market?
In Massachusetts, legal cannabis sales totaled $152 million in November 2024, a 1% decrease from October but a 4% increase from November 2023. On a quarter-to-date basis, sales totaled $305 million for October and November, marking a 5% decline from the prior quarter.
The average price per gram fell to $4.58, the lowest since 2020.
Average revenue …