Colorado recreational marijuana sales rose 5% in February to hit $15.1 million,
The rate is larger than it appears given that there are fewer days in February. Cannabis outlets generated about $540,000 each day in February, compared with about $464,00 the previous month – an increase of about 15%.
Colorado’s recreational sales are expected to grow steadily through the year as more stores open for business and inventory supply challenges resolve themselves.State lawmakers are taking a cautious approach to tax revenue until they can predict tax revenues with greater accuracy.
On the medical side, sales rose 12% in February to top $35.2 million, indicating that the new recreational market is not taking MMJ revenues.
The state collected $3.2 million in taxes and fees on recreational and medical marijuana in February.