Point-of-Sale Data Indicates Plummeting North American Marijuana Sales on 4/20 "Holiday"
The 4/20 "holiday" enjoyed by marijuana aficionados wasn't much of a party this year. Data compiled by Cova, a provider of point-of-sale systems for the cannabis industry, which lists clients such as Canopy Growth's (NYSE: CGC) Tweed brand, indicates that sales figures in North America were down sharply for the 2020 edition of the April 20 "event."
Average sales per store fell by 50% to the equivalent of $8,000 on that day, compared to April 20, 2019. Gross profit per store saw a steeper decline, at a 54% clip to $3,200. And according to Cova's data, an average of 150 people visited such stores that day -- a 50% drop.
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Source Fool.com
