After the World Health Organization declared a global pandemic on March 11, 2020, much of the U.S. began lockdown restrictions – a move that dramatically altered the cannabis business landscape.
By contrast, legal marijuana markets in 32 states and Washington DC were allowed to stay open during state-mandated stay-at-home orders, according to the Marijuana Policy Project.
Then came the stimulus and employment checks, as the U.S. government sought to keep money circulating throughout the economy to counter layoffs and untold numbers of shuttered businesses.
Early during the pandemic and the subsequent lockdowns, cannabis sales skyrocketed across the six U.S. adult-use markets tracked by Seattle-based data-analytics firm Headset.
By the week of March 16, 2020, cannabis sales in California, Colorado, Michigan, Nevada, Oregon and Washington state were already 38% higher than during the first full week of January that year.
After a brief dip in late March, when many states were in full lockdown, purchases continued to climb through the summer, peaking during the week of Aug. 31, 2020, at 59% greater sales than the first week of January.
Sales declined slightly toward the end of 2020 before surging again in the spring of 2021, around the marijuana industry’s unofficial April holiday, 4/20.
Since then, U.S. cannabis sales in those markets have been gradually slowing, possibly returning closer to a pre-pandemic normal, according to Headset.
Show Notes:
How US cannabis industry weathered two years of pandemic upheaval
https://mjbizdaily.com/how-us-cannabis-industry-weathered-two-years-of-pandemic-upheaval/
Host:
Josh Kincaid, Capital Markets Analyst & host of your cannabis business podcast.
https://www.linkedin.com/in/joshkincaid/
Episode 919 The #TalkingHedge…
Your Cannabis Business Podcast.
Covering cannabis products, reviews, business news, interviews, investments, events, and more.
https://www.theTalkingHedgepodcast.com
Music Info:
Song: Beat | Keep On | 2020
Artist: Milochromatic Beats
&
Song: Dark Trap Beats Hard Rap Instrumental | Gang | 2018
Artist: LuxrayBeats
Keywords:
Hemp News, Weed News, Cannabis News, Marijuana News, Cannabis Business, Marijuana Business, Cannabis Industry News, Marijuana Industry News, Weed News 420, Talking Hedge Podcast, Cannabis Podcast, Marijuana Podcast, Business Podcast, CBD podcast, THC podcast, Cannabis Pitch Deck, Marijuana Pitch Deck, Marijuana Investment Deck, Cannabis Investment Deck, Cannabis Compliance, Cannabis Data, Cannabis Banking, Cannabis Investment, Pot Stocks, Cannabis Stocks, Weed Stocks, Marijuana Stocks, Cannabis Data, Marijuana Data, Cannabis Analytics, Marijuana Analytics, Cannabis Sales Data, Marijuana Sales Data
Josh is not an investment adviser. The Talking Hedge is long gold and silver. Listeners should always speak to their personal financial advisers. This is only entertainment.
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