Author: Vitaliy Dadalyan

The Week In Cannabis: Stocks On The Rise, Earnings, Big Cannabis Sales, Moves In Argentina

Cannabis stocks were back in the green this week, as earnings season kicked off.But it was not only companies reporting their sales this week. States like Illinois and Colorado also put out their marihuana figures. Illinois said it saw marijuana tax revenue total $52 million in the six months since it legalized recreational use on Jan. 1\. Over the same period, cannabis sales in the Prairie State amounted to $239 million.Meanwhile, "Colorado continued to show what a juggernaut it is in terms of sales," Debra Borchardt, CEO of Green Market Report, told Benzinga. "$192 million in the month of May during a pandemic is impressive, to say the least. With so many new states coming on, we forget how important Colorado is to this industry."Worldwide legal cannabis spending also surged considerably, posting its biggest year of growth in 2019, according to data firm BDSA. The Arcview Market Research/BDSA forecast model shows...