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California Not Meeting Revenue Projections For Commercial Cannabis, Analyst Says

The state estimated sales for the rest of this year at $1.15 billion

In the first two months of cannabis legalization, consumers bought an estimated $339 million worth of marijuana products from retailers in California, 13 percent less than state projections, according to a leading analytics firm.

The state has estimated that retail cannabis sales for the remaining six months of this fiscal year would be $1.15 billion, or $383 million every two months.

BDS Analytics of Boulder, Colorado, provided the firm’s data to The Bee. Greg Shoenfeld, vice president for operations, said the company collects sales data from dispensaries and uses statistical modeling to project statewide sales. BDS Analytics also collects and analyzes such data in the three other states with recreational marijuana: Oregon, Washington and Colorado.

 

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