Let’s talk about Illinois’ first day, President Trump’s recent statement, and Canopy Growth versus Canopy Rivers…
Illinois just unleashed legal adult-use cannabis across the state. Thousands of enthusiasts and curious consumers lined up on New Year’s Day to make their first purchase.
The Windy City made quite an impact on its first day, with most of those people going to dispensaries located in Chicago or the Chicago suburbs.
Two companies came especially prepared for their first day of sales. Green Thumb Industries (OTC: GTBIF) and Cresco Labs Inc. (OTC: CRLBF) had each of their dispensaries fully-staffed with open doors at 6:00 A.M. Cresco alone sold over 9,000 products at an average ticket price of $135.
Most dispensaries had a constant line from open to close.
Even Chicago’s lieutenant governor, Juliana Stratton, braved the crowd to be among the first to buy edibles.
I may need to take a trip to Chicago soon to scope out its success for myself.
In the first year alone, projections show Illinois could be a cannabis market worth $2 billion. I’ll have more updates for you as the year progresses.
Your Video Q&A
Every week, we receive dozens of questions that deserve answers. This week, I’m answering a few questions that are especially relevant today – about the Food and Drug Administration (FDA)‘s claims towards CBD and President Donald Trump’s statement about medical marijuana protections.
Executive Director, National Institute for Cannabis Investors
6 responses to “Illinois’ First Day and This Week’s Urgent Questions”
January 04 2020