4/20 sales for marijuana industry in 2023 were at lowest in last 5 years, report says
A new sales report from April shows weed transactions from this year's 4/20 were at their worst in the last five years.
April's sales stayed close to $132 million with medical and retail transactions combined.
In 2021, retail sales alone were close to $167 million as experts say falling sales are a result of too much supply and not enough demand along with the increase of competition as other states legalize marijuana.
In Denver, the number of medical marijuana store licenses fell 27% over the past five years. Recreational licenses are still growing with a 13% increase over the past five years.