In Colorado, the cost of getting high keeps getting lower

Even as marijuana sales continue to increase in Colorado, pot prices just keep getting lower. In the past year alone, the cost of an eighth of an ounce of recreational marijuana in Colorado has dropped by an estimated 40 percent, from between $50-$70 to about $30-$45. The reason, according to a new report by brokerage company Convergex: the classic law of supply and demand. When recreational marijuana was first legalized in Colorado, only a limited number of dispensaries and facilities were able to distribute the drug. As the state has settled into being weed friendly, the once-small hold on the marijuana industry has begun to widen, driving prices down.
But although costs are declining, the pot market's growth in Colorado is certainly still healthy. According to the same report, sales of marijuana increased by 98 percent between this April and last, and stores are expected to increase gross earnings by 50 percent in the next year, raking in an estimated total of $480 million.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
-
Dollar faces historic slump as stocks hit new high
Speed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
-
Economists fear US inflation data less reliable
speed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
Crypto firm Coinbase hacked, faces SEC scrutiny
Speed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress code
speed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirement
speed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff display
Speed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loom
Speed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panels
Speed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off