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 (OTC:ACRDF), Ascend Wellness (OTC:AAWH), Curaleaf Holdings (OTC:CURLF), Green Thumb Industries (OTC:GTBIF), Columbia Care Inc. (NEO: CCHW) (CSE:CCHW) (OTCQX:CCHWF) (FSE:3LP), TerrAscend (OTC:TRSSF) and Verano Holdings (OTC:VRNOF) to sell at 13 locations across the state.
Photo: Courtesy of Benzinga
