Marijuana sales are rising in the US amid the coronavirus pandemic. Many states announced that marijuana is an “essential item.” As a result, many medical dispensaries can stay open along with pharmacies. The pandemic, which is eating away at the global economy, gives the marijuana sector an advantage.
Cannabis is turning out to be the one thing the coronavirus can’t destroy.
Marijuana sales are booming, with some states seeing 20 percent spikes in sales as anxious Americans prepare to be hunkered down in their homes potentially for months. Weed sellers are staffing up too, hiring laid-off workers from other industries to meet demand. And in the midst of a historic market meltdown, stock prices for cannabis companies have surged, in some cases doubling since the public health crisis began.
As Illinoisans are ordered to hunker down to prevent the spread of the new coronavirus, calls to allow legal marijuana deliveries have increased.
State Rep. Sonya Harper (D-Chicago) introduced legislation last month that would allow cannabis dispensaries to deliver marijuana to both medical pot patients and recreational customers. Now, she’s calling on Gov. J.B. Pritzker to take immediate action amid the rising public health crisis.
The stock market may be the greatest long-term wealth creator, but it's not without its fair share of corrections and bear markets. The current bear market we're in just happens to be the steepest in recorded history, with the benchmark S&P 500 losing 34% of its value in a span of less than five weeks.
Leaders of Canada’s cannabis industry are pleading with the federal government for help to curb the damage the coronavirus pandemic is having on the sector.
Cannabis companies are currently left out of the federal government’s $82 billion stimulus package, something Rick Savone, SVP Global Government Relations for Aurora Cannabis Inc, hopes will change sooner rather than later.
In the vastly disrupted economic and social reality created by the COVID-19 pandemic, many industries appear to be trapped in a downward spiral. As international airlines, hospitality providers, and a broad range of other sectors seek bailouts and federal assistance, the cannabis industry has shown signs of thriving amid the volatility.
When Denver Mayor Michael Hancock announced recreational marijuana shops would be forced to close under the city’s stay-at-home order Monday, the response from customers was swift. They swarmed local dispensaries to stock up on products and caused enough of a stir that the mayor rescinded the moratorium just three hours later.
Massachusetts’ Commonwealth Dispensary Association is partnering with the Massachusetts Health & Hospital Association to make hand sanitizer and other cannabis companies around the continent are donating personal protection equipment to hospitals amid the coronavirus pandemic.
Cannabis sales are touching new highs as customers across the US and Canada stockpile weed to prepare for long spells of isolation because of the coronavirus pandemic.
Maryland's medical cannabis companies are getting creative about finding ways to get their products into the hands of paying customers, while keeping face-to-face retail interactions to a minimum.
