Cannabis Companies In Beast Mode With 420 Sales

420 was predicted to be a huge day for cannabis sales and it certainly didn’t disappoint. Akerna said that by the time Tuesday hit, the daily retail sale of legal cannabis was expected to gross $95 million nationally, bringing total 4/20-related sales to $370 million in the U.S. if Akerna’s data proves accurate.

Planet 13

Nevada-based Planet 13 Holdings Inc.(OTCQB:PLNHF)  a leading vertically-integrated Nevada cannabis company, announces record sales day on April 20, 2021 (“420”). The Company generated $543,000 in single-day sales with gross margins during the month in excess of 50%.

“The demand and acceptance for cannabis is growing across the country, and nowhere is that more evident than in Las Vegas. For tourists returning to Vegas, Planet 13 is synonymous with cannabis and an incredible entertainment experience,” said Larry Scheffler, Co-CEO of Planet 13. “The demand is so overwhelming that even with the many improvements we have made to streamline throughput, we still can’t capture all of the demand. I’m excited for the relaxing of COVID restrictions on May 1st and our expansion which doubles our sales floor and points of sale to handle the unprecedented surge in customer traffic.”

Planet 13 said it is also hiring over 300 workers to staff its Vegas dispensary expansion (doubling points-of-sale/registers to 85) and to staff its new California SuperStore.

Ayr Wellness

Ayr Wellness Inc. (OTCQX: AYRWF) said it celebrated the 420 holiday with retail sales records across its six-state footprint. Nevada, Massachusetts, and Pennsylvania all had record days. In total, the company saw 14,241 transactions and $1.24 million in sales on Tuesday, for an average ticket of $87. Retail gross margin remained high at over 50%.

In Nevada, where the local economy is seeing the benefits of the reopening of the casinos and entertainment venues, Ayr, through its service and operation agreements with licensed operators, saw over 7,500 transactions, including over 2,000 in its busiest location in Henderson, NV, 30% above its average daily count.

“I could not be prouder of our Ayr Wellness team. This 420 we set a new standard for performance and customer service with over 14,200 transactions processed in one day. As cannabis continues to mainstream throughout our culture and 420 increasingly becomes a “National Holiday”, we are thrilled to provide our consumers with an exceptional customer experience, excellent products, and new ways to safely celebrate the wellness and wonder of cannabis,” said Jonathan Sandelman, CEO of Ayr Wellness.

Eaze


California’s largest marketplace for legal cannabis delivery announced record 420 sales. Eaze customers bought an average of $200 worth of cannabis on 4/20/21, a 50% increase in order value over 420 2020. Deliveries were also up significantly, with a 185% increase compared to any other Tuesday in 2021. Eaze, which has completed 7 million deliveries to date, recently announced its expansion into Michigan and its line of private label brands. “Cannabis consumers moved to delivery as their preferred way of shopping last year, so we’re not surprised to see such a strong 420 in 2021,” said Ro Choy, CEO of Eaze, “Even as daily life begins to return to normal, consumers are staying with the convenience of delivery. It’s the future of this industry.”

Debra Borchardt

Debra Borchardt is the CEO, Co-Founder, and Editor-In-Chief of GMR. She has covered the cannabis industry for several years at Forbes, Seeking Alpha and TheStreet. Prior to becoming a financial journalist, Debra was a Vice President at Bear Stearns where she held a Series 7 and Registered Investment Advisor license. Debra has a Masters degree in Business Journalism from New York University.


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