Last year, some big players in the cannabis business were not doing very well. Shares tumbled from short-term highs and some financial expectations of the business were not fully met. Canapoy Growth lost up to 70 percent in value and Tilray, for example, up to 90 percent. But now that many Americans are forced to stay within their own four walls, cannabis shops have been recognized as an essential business in the current situation – and have thus opened – the boom in the marijuana industry is suddenly back. Cannabis is a best seller in a crisis.
In the United States, where medical marijuana can also be sold as a pleasure pot, most stores are open to customers. This has led to people from all walks of life continuing to go out to get relaxing cannabis for everyday life that has become boring. But not as is usually the case with shopping, but to a much greater extent. The frequently used e-commerce platform Jane Technologies recorded an increase in individual stores of between 52 and 130 percent compared to January. However, steep growth was not only observed here, but also in the delivery service. Since users of cannabis also want to take care of their health, an above-average number of people are now ordering their estimated intoxicant via a delivery service, so that an increase of 142 percent was perceived here. Even in Florida, demand went up, where 36 percent more cannabis can now be found among happy owners than last week. This development not only means that operators can stay afloat and pay the corresponding salaries to their employees during the crisis, but even to the extent that certain companies currently need new workers for the delivery area.
But things are not going so well everywhere, because in certain places – such as Las Vegas – you are heavily dependent on tourists, who of course are no longer easy to find in the current situation. In Nevada, therefore, the stores in the dispensaries fill up, which are still seen as an essential business during the lockdown. In Massachusetts, on the other hand, the shops were closed, which according to the operator of the Harborside cannabis chain Steve DeAngelo could easily lead to people trying to medicate themselves with far more dangerous substances. “ If we don’t give people access to cannabis – which is a relatively safe substance – they will most likely start self-medication with more dangerous substances“He told CNBC. This is probably also seen in Canada, since trading in legal medicinal intoxicants is still permitted there. In Ontario, orders through the legal Ontario Cannabis Store’s (OCS) website service have more than doubled in the past two weekends. Overall, edible products seem to have moved up the popularity scale, as the Bhang CEO knows that gummy bears, brownies and chocolate sold best in his range. This should also be perceived with benevolence by Steve DeAngelo, after all, the “father of legal CBD business” recommends to his customers, in times of a wandering respiratory illness, to think about whether the cannabis active ingredients should actually be ingested through the vital lungs. Cough.