November 2024 Market Summary

November in New Mexico’s market brought in 47.M in total sales. Schwazze continues to lead at #1 for the third consecutive month. Oasis, still clocking in strong sales month after month, could see gold sooner than later.

PVP sits in third with modest sales earnings, compared to the numbers they use to put up. Chadcor’s four storefronts (Dark Matter/Top Crop), could very well surpass PVP in December.

Urban Wellness is riding a wave of momentum, thanks in part to its “express” locations—proof that convenience can be king. Purlife, not far off, continues to build steam, showing that these two operators still have a lot of fight left in them.

But not everyone is thriving. FCI (Dreamz/Cheech and Chong’s Dispensary) is slipping further behind the leaderboard, a shadow of its former self. Meanwhile, Generation Health faces another month of losses and the shuttering of their Albuquerque Lead location—a grim sign of the challenges in this fiercely competitive market.

Mango Cannabis is set to make a splash with its upcoming location in Sunland Park, marking another MSO player staking their claim in the market. Meanwhile, whispers in the air suggest a third Cookies store may soon find a home in yet another New Mexico city, further cementing their foothold in the state.

The market bids farewell to Cinder, The Bad Company, and Off the Charts, casualties of an industry where even experienced operators struggle. Remaining competitive demands sharp strategy, deep pockets, or a mean right hook. The green rush in New Mexico is far from over, but for some struggling to pivot, it’s time to bite down and swing for the fences.