Green Day

U.S. canna rang the register on 4/20.

Daily Recap

Although the precise origin of 420 remains hazy, one thing has become abundantly clear: it is the unnofficial holiday for the canna culture and the unequivocal leader in canna discounts and promotions, much like what Black Friday is for retail giants.  

Headset kept the receipts from their retail partners in the U.S. and Canada that totaled more than six million units sold and almost $84M in sales on 4/20. Below, they’ll dig into the state markets and other particulars surrounding every stoner's favorite day.

Red + Blue = Green

More Biden voters than Trump voters wanna live in a place where marijuana is legal, according to a new survey, but a separate poll showed legalization itself has majority support among both Democrats and Republicans.

Northern Lights

StatsCAN offered a comprehensive look at Canadian cannabis and found:

• Over one-in-three Canadian adults use cannabis.

• 1-in-10 adults reported using cannabis daily in the previous 12 months.

• Dried canna remains the top seller but inhaled extracts are catching on.

• Legal sales of adult-use cannabis increased 16% to $4.7B in ‘22/’23.

• Dried canna remained the top seller in ‘22/’23 w two-thirds (65%) of sales.

• Canadians spent on average $150pp/year on cannabis in ‘22/’23.

• Two of every five dollars spent on legal canna enter government coffers. 👀

• Over two-thirds who used canna in the past 12 months bought legal canna. 💪

• Why buy from legal source? Product safety (38%), convenience (17%) and desire to follow the law (13%).

• Cannabis-related drug offenses dropped as a result of legalization.

Mass General

After two years of delays, a Massachusetts social equity fund that was designed to help struggling canna businesses finally began to distribute money, with Gov. Maura Healey handing out $2.3M with plans to grow the fund to $28M later this year.

Stocks & Stuff

It was another tenuous trek through Cannaland as thin volumes and thinner patience combined for a listless lift likely aided by continued stregth in the broader tape. U.S cannabis ETF MSOS scratched back what it lost yesterday, but no mas.

The Canadian-kind had a better session as several LP’s flexed double-digit percentage gains, led by ACB 0.00%↑ CGC 0.00%↑ and VFF 0.00%↑.

Below, we’ll chew through today’s price action, check on the charts, sniff at some clues that suggests industry consolidation is approaching, gather another breadcrumb and otherwise wade our way toward tomorrow’s Hump.

All that and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ PT Notional: $75M/$58M

Top Stories