Currently among the biggest and fastest-growing markets in the country, Oklahomas medical marijuana market broke sales records in both April and May as customers stocked up on items amidst the coronavirus pandemic.
In April, sales in Oklahoma soared to $61.5 million, a 21% boost from March.
Sales increased once again in May to reach almost $74 million– a month-to-month figure that far goes beyond that of adult-use markets in Illinois, Massachusetts, Michigan and Nevada.
With more than $275 million in MMJ sales in 2020 to date, Oklahomas market could quickly eclipse $700 million by the end of the year– in the very same ballpark as more populous states such as Arizona and Florida.
Clients continued to enlist in Oklahomas medical cannabis program throughout the COVID-19 crisis– rising from roughly 272,000 in March to 297,000 by the end of May– though the current month-to-month sales gains were driven by additional spending from existing patients.
Oklahoma is showing the remainder of the U.S. how to run the medical cannabis industry. This southern U.S. state has actually shocked numerous experts, rapidly growing into one of the largest and fastest-growing medical cannabis markets in the country.
Looking forward, I anticipate Oklahomas marijuana market to grow at a rapid speed.
Oklahoma is on speed to do $1 billion in cannabis sales in 2021 and is reporting record sales in each of the last two months.
Here are some more details from mjbizdaily.com.
Growing Medical Permit Approvals
The state continues to authorize tens of thousands of new medical permits each month. This need to keep the medical market growing for years.
Possibly more important, I see a high probability Oklahoma will legalize recreational marijuana in the next 24 months.
Lawmakers continue to send new petitions to legislate recreational marijuana. Here are some more details from the Oklahoman.com.
2 effort petitions submitted Wednesday look for to legalize leisure marijuana and legalize the drug in Oklahoma.
The petitions likewise seek to preserve in Oklahomas constitution a lot of the medical marijuana defenses Oklahoma citizens approved when they passed State Question 788 in 2018.
Submitted by 8 Oklahomans who operate in Oklahomas medical cannabis industry, the petitions come on the heels of two other petitions seeking to upgrade the states cannabis laws.
# 2– GrowGeneration Corp (NASDAQ: GRWG).
The Big Picture on Oklahoma.
Curaleaf and Growgen are two early leaders in Oklahoma. Search for these two early industry leaders to capitalize on Oklahomas high growth capacity in the next couple of years and beyond.
Growgen has actually been among the top-performing cannabis stocks in the last twelve months. Shares just hit a brand-new all-time high. Growgen looks a little overbought in the brief run, but this stock has a lot of momentum right now.
Shares of CULRF have actually recently seen a huge rebound off the 52-week low. Shares are still trading well below the 52-week high.
The information consisted of in this post is for informational and instructional functions only. The trading ideas and stock selections represented on the Cannabis Stock Trades site are not customized to your specific financial investment needs. Readers and members are advised to seek advice from their financial advisor prior to entering into any trade. Marijuana stocks carry a specific level of threat and we accept no duty for any possible losses. All trades, patterns, charts, systems, and so on talked about are for illustrative functions just and not to be construed as particular advisory suggestions. All ideas and product presented are entirely those of the author and do not always reflect those of the publisher.
Curaleaf Holdings is among the biggest marijuana business in the United States. The business operates in 17 states with 57 dispensaries, 15 growing websites, and 24 processing websites. In addition, Curaleaf employs over 2,200 individuals across the U.S.
One of those states is Oklahoma, where Growgen operates and owns five retail places. Oklahoma is a crucial market for Growgen– accounting for 15% of third-quarter earnings.
# 1– Curaleaf Holdings (CSE: CURL, OTC: CURLF).
Oklahomas medical marijuana market is flourishing. The formula is really pretty easy … low taxes, low policies, loads of permits, open markets and competition.
Curaleaf recently entered the Oklahoma market through a distribution deal with Mango Cannabis.
Curaleaf Holdings is one of the largest marijuana companies in the US. In addition, Curaleaf uses over 2,200 people throughout the U.S.
This is a 5-year chart on Growgen.
Curaleaf recently went into the Oklahoma market through a circulation handle Mango Cannabis.
I anticipate Oklahoma to legalize leisure cannabis in the next 24 months. If it occurs, it would change the state into a $2– $3 billion marijuana market.
Growgen has been one of the top-performing marijuana stocks in the last twelve months. The trading ideas and stock selections represented on the Cannabis Stock Trades site are not customized to your private investment needs. Cannabis stocks carry a particular level of threat and we accept no duty for any prospective losses.
For financiers looking to capitalize, I see two appealing young marijuana business that are establishing early management in Oklahoma.
GrowGeneration Corp is a prominent supplier of marijuana growing supplies and materials. The business currently runs and owns 27 retail locations across 10 U.S. states.