Akerna Flash Report: Fourth of July Weekend Cannabis Sales Total $255.5 Million

2.6 min readPublished On: July 8th, 2022By

DENVER – Business intelligence from Akerna (Nasdaq: KERN), an enterprise software company and the developer of one of the most comprehensive technology infrastructures, ecosystems, and compliance engines powering the global cannabis industry, today announced that US cannabis shoppers spent a total of $255.5 million on adult-use and medical cannabis products during the Fourth of July weekend.

US National Retail Cannabis Sales (Millions):

Friday (7/1/22) $106.7 M
Saturday (7/2/22) $68.1 M
Sunday (7/3/22) $45.2 M
Monday (7/4/22) $35.5 M
Total: $255.5 M

The Friday ahead of the holiday brought in $106.7 million in sales, becoming the second-highest grossing sales day for the industry in 2022. The Friday ahead of last year’s Fourth of July weekend brought in a total of $89,600,000 in sales, signifying a 19.1% year-over-year increase in sales this year.

“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.

Monday, July 4th, likely saw lower sales due to store closures for the holiday.

Forward-Looking Statements:

Certain statements made in this release are “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such terms or expressions) are intended to identify forward-looking statements. Such forward-looking statements include but are not limited to statements regarding the ability of the MJ Platform team to help operators make decisions through analytics and reporting. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of significant known and unknown risks, uncertainties, assumptions, and other important factors, many of which are outside Akerna’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others that may affect actual results or outcomes, include (i) Akerna’s ability to maintain relationships with customers and suppliers and retain its management and key employees, (ii) changes in applicable laws or regulations, (iii) changes in the market place due to the coronavirus pandemic or other market factors, (iv) and other risks and uncertainties disclosed from time to time in Akerna’s filings with the U.S. Securities and Exchange Commission, including those under “Risk Factors” therein. You are cautioned not to place undue reliance on forward-looking statements. All information herein speaks only as of the date hereof, in the case of information about Akerna, or the date of such information, in the case of information from persons other than Akerna. Akerna undertakes no duty to update or revise the information contained herein. Forecasts and estimates regarding Akerna’s industry and end markets are based on sources believed to be reliable; however, there can be no assurance these forecasts and estimates will prove accurate in whole or in part.

(This information is primarily sourced from Akerna Corp.  Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).

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