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Marijuana stocks could emerge as an unlikely safe haven for investors who want to invest but worry about the pandemic.

The stock market’s rapid fall and subsequent rise in the wake of the pandemic were enough to give investors whiplash.

Now traders are facing a dilemma. They can jump into an increasingly frothy market or stand by and miss out on further gains. But there is one unlikely segment that looks relatively insulated: marijuana stocks. 

There are hints that cannabis delivery using mainstream widespread delivery services could happen someday in the same way that alcohol is delivered.

It’s hard to say where we are in the COVID-19 pandemic right now, as infections and deaths continue to rise. But there have been movements in the cannabis industry that are changing the way the industry operates amid the pandemic that may stay post-pandemic.

On June 3, The Los Angeles Times reported that the budget proposed by Governor Gavin Newsom projected a decline in California’s cannabis sales. COVID-19 induced a recession in the US economy, which could drag cannabis sales down. At the beginning of this year, Newsom expected the excise tax on cannabis to bring in $479 million this year. For the fiscal year starting on July 1, he expects an excise tax of $590 million.

State Attorney General Jason Ravnsborg is reviewing a proposal for South Dakota’s industrial hemp program before it goes to the U.S. Department of Agriculture for clearance.

That’s according to a spokeswoman for the state Department of Agriculture. JaCee Aaseth said USDA will then have up to 60 days to look over South Dakota’s plan and decide whether it can proceed.

State lawmakers wrote the law so it could take effect immediately after receiving the governor’s signature. The hope by some was that farmers could plant by July, but that now seems off the table.

Though a dozen states have proposed cannabis initiatives, these states have the best chance to "go green" on Election Day.

Despite its numerous growing pains over the past year and change, marijuana remains one of the fastest expanding industries on the planet. After logging $10.9 billion in legal worldwide sales in 2018, Wall Street has global pot sales hitting anywhere from $50 billion to $200 billion by 2030.

The cannabis market in Illinois has been growing despite the COVID-19 pandemic. Illinois legalized recreational cannabis on January 1, 2020. Since then, the sales have been surging. The pandemic might have affected all of the other sectors but it helped marijuana sales. Consumers stocked up on marijuana to ease their anxiety and panic amid the crisis.

FSD Pharma has received FDA permission to design and submit an application for a new trial using a synthetic cannabinoid-based drug in the treatment of COVID-19.

Philadelphia, Pennsylvania-based cannabis company FSD Pharma has been granted permission by the Food and Drug Administration to submit an Investigational New Drug Application for a clinical trial using a synthetic cannabinoid drug called ultramicronized palmitoylethanolamide (micro PEA) to treat COVID-19.

As it contends with the ongoing coronavirus pandemic, Missouri's health department published its first constitutionally required annual report to the governor on the fledgling medical marijuana program.