Canadian cannabis company Aphria (APHA) - Get Report was a rare flicker of light in an otherwise down market on Wednesday as a surprise fiscal third-quarter profit and sales that were double analysts’ forecasts sparked investors to push up the stock nearly 20%.
Ask people what their first experience with cannabis was, and you will no doubt get a variety of answers: "I fell asleep," "I got the giggles," "It made me super paranoid," and so on. This variation arises from the chemical composition of the product, and how different people metabolize these compounds; a one-size-fits-all approach is rarely effective in recreational or therapeutic cannabis use.
While the world faces shutdowns and economic stoppages, the cannabis industry remains one of the select industries to continue operations. Through delivery services, mobile ordering, automation, and diversified demand, cannabis exists as a versatile and resilient industry.
If you think oil and gas stocks have had a rough go of things in recent weeks, take a gander at marijuana stocks since March 31, 2019. Over the past year and change, most cannabis stocks have lost at least half of their value, with the losses being especially noticeable for Canadian pot stocks.
As the novel coronavirus rages on, few industries have experienced quite as many highs and lows as California’s cannabis industry.
Cannabis is legal in Washington and Michigan. Notably, Washington became the second state to legalize recreational marijuana in 2012. Michigan made adult-use marijuana legal in 2018.
During a time of historic economic disruption and agricultural turmoil in Florida due to the novel coronavirus, Agriculture Commissioner Nikki Fried says there’s a newer, greener reason for farmers to be hopeful.
Democratic Governor Ralph Northam has approved legislation (Senate Bill 2 | House Bill 972) decriminalizing marijuana possession offenses. Northam also recommended technical amendments which must be approved by the legislature before the new law takes effect July 1, 2020.
Buying cannabis can be intimidating. When you enter a cannabis shop, you are met with a massive selection of products. How do you even begin to navigate your options? Why would you spend $60 on an eighth of Purple Punch that is 23% THC when there is a $20 eighth from a different brand with 28% THC? And it can be even more challenging if you’re buying online and can’t see the product.
Cannabis sales were soaring in March, especially during the first half of the month as the coronavirus became a global pandemic. Washington state saw a 9% increase in March's revenue from cannabis compared to the prior year, California's sales were up 53% year over year (although in previous months, its growth rate was around 75%), and Oregon posted record monthly revenue of $84.5 million, up from $61.2 million a year ago.
