California Cannabis Industry to Hit $6 Billion by 2025
November 16th, 2020
App, Exclusive, News, Top Story
California’s cannabis industry is on track to surpass $6 billion in 2025, according to BDS Analytics, which would represent a sixth of legal cannabis sales in the United States. Although Nevada and a handful of other states experienced COVID-19-related disruptions, California’s mature market has managed to weather the pandemic thus far.
Let’s take a closer look at California’s market and how ManifestSeven Holdings Corporation (CSE: MSVN) has become the glue holding it together.
The Leading Cannabis Market
California legalized recreational cannabis on January 1, 2018 and—despite some early growing pains—has built a robust regulatory system.
Another Cannabis Sales Projection for California – Source: New Frontier Data
Cannabis sales spiked 90% on March 16 over the average daily sales when the state’s shelter-in-place orders went into effect. As an essential business, cannabis retail sales continued with a 60% increase in April and a 29% increase in June over the prior year. The North Coast—home to the Emerald Triangle—has been the epicenter for this growth.
At the same time, a more diverse customer base and evolving consumer preferences during the pandemic accelerated the transition from primarily smoked cannabis to edibles, drinks, lotions and oils. Cannabis apps and delivery services also gained in popularity as consumers side stepped brick-and-mortar retailers to avoid potential exposure to COVID-19.
These changing market conditions could persist well into next year as the pandemic persists. In addition, many analysts believe that there could be a more permanent shift toward ecommerce and delivery even after the pandemic subsides given the increased convenience of purchasing online and the brand loyalty earned over the past year.
M7 Seeks to Connect the Market
ManifestSeven aims to become the “omnichannel” in California’s nascent market by building an extensive distribution network and getting products to customers.
ManifestSeven Connects the Market – Source: Investor Presentation
The company’s frictionless supply chain normalizes the retail experience by enabling businesses to reach customers and customers to access products through its 1-800-CANNABIS brand and Weden dispensary and delivery services. Currently, the company also distributes to over 200 retail dispensary accounts, with 20+ commercial vehicles in its fleet and 12 curated brands in its portfolio.
Since its inception, the company reported revenue growth in eight of nine quarters with a 300% compound annual growth rate. It’s 88% coverage of California’s market has translated to more than 676,000 customers in its marketing database and more than 6,000 monthly calls to its flagship 1-800-CANNABIS phone line to take orders.
California’s cannabis industry has continued to see strong growth despite the COVID-19 pandemic. While other states experienced disruptions, California’s robust regulatory system has kept things relatively smooth thus far.
Investors looking to capitalize on the state’s growth may want to consider ManifestSeven Holdings Corporation (CSE: MSVN), which continues to expand its seamless, compliant omnichannel across the state of California, and maintains plans to move into other markets. With its extensive distribution and existing growth rates, the newly public company is well positioned to grow shareholder value over time.
For more information, visit the company’s website or download their investor presentation.
The above article is sponsored content. CannabisFN.com and CFN Media, have been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
Follow Us on Social Media
About CFN Media Group
CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.
Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.