The increase in demand for cannabis in March was not just an anomaly, but continued in April. It seems that Americans are gaining momentum to deal with pandemic stress.
BloombergCiting BDS Analytics data, cannabis sales began in April, as in many legal states dispensaries were declared the main enterprises.
On an annualized basis, April pot sales in Maryland doubled, sales in Arizona grew by 49%, in Oregon – by 40%, in Colorado – by 8% and in California – by 4%. However, Nevada reported a 30% decline in the month due to a collapse in the travel and tourism industry, or mainly due to the closure of Vegas.
BDS data also showed that sales on April 20 (4/20, also known as marijuana celebration) were not stellar compared to last year.
“Overall, according to Headset Inc., 4/20 sales in California, Colorado, Nevada, Oregon and Washington have fallen 22% since 2019. It can be at least partially, because the celebration took place on Monday of this year and on Saturday in the past. ” year, “said Bloomberg.
At the beginning of the lockout, we noted how the Americans panicky hoarded a pot; long lines outside the dispensaries were seen throughout the country.
During the locks, the pot industry seemed to flourish, although the ETFMG Alternative Harvest ETF (MJ) fell by at least 65% last year. No love for pots?
With landfill economies, tens of millions of unemployed and pandemic is still raging – Americans treat themselves potty.