Colorado's Marijuana Industry Faces Steep Decline in 4/20 Sales and Minority Ownership
Colorado's marijuana industry is experiencing its worst 4/20 sales in five years, with falling sales, business closures, and layoffs. Factors contributing to the decline include oversupply, lack of demand, increased competition in other states, dropping prices, a decline in cannabis tourism, and the allure of black market weed. In April 2021, total medical marijuana sales hit a record low since sales began in 2014, while retail marijuana sales reached their lowest point since April 2020.
