Missouri has reported $71.7 million in adult-use cannabis sales in February in its first month of business, according to data from the state’s Department of Health and Senior Services. Combined with $31.2 million in medical sales, Missouri rang up total combined cannabis sales of $102.9 million for February. The $71.7 million in adult-use sales in Missouri’s first month outpaced the $39.2 million in the first month of sales in Illinois in 2020 and $24.2 million in the first month of sales for New Jersey and $6.5 million in the first month of sales for Michigan, according to data from MJBiz Daily. Voters in Missouri approved pot use among adults over 21 in November. The state then managed to license 200 stores for its adult-use debut. The AdvisorShares Pure U.S. Cannabis ETF MSOS is down 1.1% in 2023, compared to a 11.6% increase by the Nasdaq COMP.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.