Cannabis tax revenues equated to over $300 million in California in 2019. There are over 600 cannabis stores in the state and over 300 more are expected to open in 2020. Over 5,000 licensed growers supply these businesses.
Even though there are over 600 cannabis stores, there are still over 13,000 liquor stores. While there are over 600 cannabis stores, about half of the areas in the state have currently banned cannabis stores. This has caused an increase in the popularity of delivery services like Eaze and Ganja Goddess.
Industry experts expect the delivery trend to continue here in 2020, and boosting the market even further in the state. As delivery services continue to gain popularity, many of them will being trading and should be something that investors might want to keep an eye on.