Once a cryptic codeword for smoking marijuana, 420 is perhaps one of the most well-known (and well-worn) phrases in the stoner lexicon. But April 20, or 4/20, has become a counter-culture holiday in North America, where people gather to celebrate and consume cannabis. In places were adult use of cannabis is legal, 4/20 has become a legitimate holiday. And that’s exactly why analysts are predicting that weed shops in the US will set sales records this April.
On Monday April 20, 2015, Colorado weed shops sold $4.8 million of recreational and medical cannabis. At the time, that was the state’s highest daily tally. The previous weekend’s numbers were also legit — $4 million in cannabis sales on April 17, $4.6 million on April 18 and $3.7 million on April 19.
“4/20 serves as a stimulus for the industry to start thinking about the rest of the year, making sure they have the right inventory levels but also thinking about the growth they’ll see throughout the rest of the year,” said Roy Bingham, founder of Boulder-based BDS Analytics.