Montana Is Another Adult Use Cannabis Market To Add To The List

Although Montana is not expected to be a major recreational cannabis market, the state Department of Revenue (DOR) reported approx. $13 million sales between January 31st and February 27th. 

In January, the state generated $12.8 million of cannabis sales and we are favorable on the recent uptick in business. We consider these numbers to be a testament to the amount of demand there is for cannabis in the US and consider Montana’s performance to be a bullish indicator for the domestic opportunity. 

When compared to 2020, the US cannabis industry has recorded explosive growth in 2021. This is a trend that we expect to continue and believe our readers need to be closely following the companies that are capturing the most market share in the US. 

Although cannabis sales have skyrocketed on a year-over-year basis, the sector has been under heavy pressure. We believe the cannabis sector is oversold and are bullish on the revenue numbers that are being reported from markets like Arizona, Florida, Illinois, Michigan, Nevada, and Pennsylvania.  

Over the next year, we expect the recreational cannabis market to continue to record strong growth. We believe the main growth drivers will be the sale of recreational cannabis in markets like New Jersey and New York. 

During the last five years, the landscape of the US cannabis industry has changed and the west coast no longer dominates the entire market. Although the largest state markets in the US are on the west coast, the trend is starting to shift toward the east coast. We expect this transition to benefit some companies more than others and our readers should be aware of the companies which are capitalizing on the trend. 

Although cannabis is in the later innings of a growth cycle in Canada, the US industry is just starting to take off. We are bullish on the long-term outlook of the US cannabis industry and please send an email to support@technical420.com to learn which companies are positioned to record impressive long-term growth. 

Share

Tags

Michael Berger is Managing Partner of StoneBridge Partners LLC. SBP continues to drive market awareness for leading firms in the cannabis industry throughout the U.S. and abroad.

Top Stories