Stores anticipate ‘420’ to be pot payday
Denver’s marijuana-loving masses light up in public
DENVER – Marijuana stores across the country could sell more than $1 billion worth of cannabis as pot enthusiasts celebrate the annual “420” holiday by lighting up in public across America.
April 20 has long been a day filled with civil disobedience by marijuana users, who gather in public to light up at 4:20 p.m. The phrase “420” is a code for marijuana users, who work it into dating profiles or post it on signs to show their shared interest.
Though it used to be a celebration held with a certain level of furtiveness, the rapidly expanding legalization of cannabis means more and more Americans no longer face significant, if any, punishment for smoking pot.
“It’s holiday season for cannabis retailers right now,” said Ryan Smith, the CEO of cannabis sales platform LeafLink. “Last year was the biggest day ever. This year will be the biggest day ever. And next year will be even bigger than this year.”
Tens of thousands of people are likely to gather in Denver for the largest 420 celebration, filling hotel rooms and packing restaurants during what would otherwise be a quiet time of the year. Before the event, dozens of companies offered tours and arranged visits to commercial growing operations, aimed at tourists who flew in to partake in state-legal weed.
Denver’s Mile High 420 Festival this year features performances by Lil Wayne and Lil Jon, along with dozens of food trucks.
“To us, this is a cultural celebration for a year in a life of cannabis,” said Kyle Speidell, CEO of the Green Solution, a chain of 16 marijuana stores in Colorado. “It gives everybody the opportunity to unify at a time when we’re really ostracized as an industry.”
LeafLink predicted retailers will sell about $1.17 billion worth of cannabis products for this year’s 420 celebrations.
The Colorado State Patrol plans enhanced patrols around the 420 events.
“It’s holiday season for cannabis retailers right now.” Ryan Smith CEO of LeafLink