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Thursday, Aug 11, 2022
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Earnings

American financial analysts report high cannabis sales over 4th of July weekend

Friday the 1st sees a 19% increase in pot-derived revenue from 2021

American cannabis analysts report high sales over fourth of July weekend
Photo via Akerna Corp.

A multi-service software company with a passion for the cannabis industry recently revealed some compelling data showcasing the ever-growing popularity of recreational bud in the United States.

On Wednesday, Akerna (Nasdaq: KERN) announced that business intelligence collected by the software giant and its family of companies showed that consumers in the U.S. had spent US$255.5 million on recreational cannabis last weekend.

On Friday, while northern neighbours were celebrating their national holiday, a record US$106.7 million in sales were recorded across 50 states – up 19.1 per cent from US$89.6 million the previous year.

Read more: Flowhub teams up with KayaPush for streamlined all-inclusive dispensary software

Read more: Canopy Growth kicks off summer with hard-hitting beverage promotion initiative

“Holiday after holiday, our data indicates Americans are choosing to celebrate with cannabis. As more markets legalize cannabis and more people gain access to the plant, we expect these year-over-year increases to continue,” said James Ahrendt, Business Intelligence Architect at Akerna.

Akerna is an enterprise software company primarily concerned with propelling the cannabis industry forward. Founded in 2010, the company and its subsidiaries proudly serve the cannabis, CBD and hemp industries. Akerna also claims to have closely monitored over US$30 billion in cannabis sales since its formation and offers a comprehensive series of expert consulting services and data analytics for business establishments.

Akerna is the first cannabis software company listed on the Nasdaq exchange.

The Akerna Flash Report that provided the recent data regarding American pot consumers observes purchasing trends in the cannabis market via Akerna’s MJ analytics system. MJ provides cannabis supply chain data, business insights derived from category administration methodology and normalized data that hasn’t been collected from assorted POS platforms.

The company currently operates in 23 states across the U.S. and 15 different countries.

 

Photo via Akerna Corp.

 

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