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December 5, 2018

Cultivate, NETA make $2.6M in second week of pot sales

PHOTO/ZACHARY COMEAU The first sale of recreational marijuana in Massachusetts was made by Iraqi War vet Stephen Mandile, an Uxbridge resident who is a proponent of legal pot. He was the first in a long line of customers at Cultivate in Leicester on the first day of sales, on Nov. 20.

Massachusetts cannabis retailers Cultivate and New England Treatment Access had another high-revenue week last week, increasing recreational marijuana sales more than $300,000 than the first week of legal pot sales.

According to data from the Cannabis Control Commission, Cultivate in Leicester and NETA in Northampton brought in nearly $2.6 million in gross sales, combining for more than 65,000 products sold.

The most lucrative day so far for the state’s budding marijuana industry was on Nov. 30, when more than $461,000 worth of products were sold. More than 11,300 products were sold.

In the two weeks after recreational sales started on Nov. 20, the two stores have combined for more than $4.8 million in sales.

With state taxes on cannabis totaling 17 percent, Massachusetts has seen more than $816,000 in new tax revenue.

Leicester and Northampton, with an additional 3-percent tax, have made a combined $144,134 through two weeks. 

Both stores have reported long waits to purchase products, and both stores have begun enacting limits for adult-use customers in order to preserve products for medical marijuana patients.

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