3 Reasons Cannabis Demand is Up in the Coronavirus Pandemic
Will these factors keep pot sales robust in April too?
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.
Pot sales were soaring, but they were also slightly inconsistent. California-based cannabis cultivator Goldenseed recently surveyed marijuana users across the country and found three key reasons demand was up in March. Let’s take a look at the factors driving increased cannabis sales to see if this is a trend that may continue and what it tells us about investing in cannabis stocks today.
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