New Jersey adult-use cannabis sales reach nearly $80 million in fiscal second quarter

New Jersey adult-use marijuana businesses generated nearly $79.7 million in total sales in the state's second fiscal quarter, from April 21 to June 30. The sales information was released by the state Cannabis Control Commission and the Department of Finance, a figure that includes nearly $1.9 million in recreational sales on April 21, the day recreational sales in New Jersey kicked off in a dozen stores. Medical marijuana sales increased to $59.3 million in the second fiscal quarter, rebounding from a modest decline in the previous three months, according to the New Jersey Monitor. There are 18 medical marijuana dispensaries in New Jersey licensed to sell recreational marijuana; one-eighth of an ounce sells for as much as $70 at licensed retailers, compared with $40 and $50 on the illegal market.

Information source: mjbizdaily.com/