Open for business on 4/20 for the first time, New Mexico’s adult-use cannabis retail market cashed in with more than $1.1 million in sales on Wednesday, according to figures from the state’s Cannabis Control Division (CCD).
That one-day total represented a roughly 85% increase from the more than $600,000 adult-use retailers recorded the previous Wednesday.
Since commercial adult-use sales officially launched on April 1, licensed dispensaries have sold more than $15 million of cannabis throughout New Mexico, KRQE reported. That’s in addition to more than $11.5 million of medical cannabis sales since the start of the month.
“Legal cannabis sales have brought 420 out of the shadows and into the mainstream of our state’s economy,” CCD Director Kristen Thomson said in a press release. “From a strong opening and reliable supply to the sales bump on 420, New Mexicans have worked together to create a thriving industry that is part of the state’s diverse economy.”
While that $1.1-million figure was notable for April 20, it wasn’t the state’s largest grossing day this month.
New Mexico dispensaries participating during the state’s opening day on April 1 recorded $1.96 million in adult-use sales in 24 hours, according to the CCD.
CCD officials expect licensed cannabis sales to generate more than 10,000 jobs and around $50 million in tax revenue for the state, KRQE reported.