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Cannabis sales were soaring in March, especially during the first half the month because the coronavirus became a worldwide 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 rate of growth was around 75%).
Oregon posted a record monthly revenue of $84.5 million, up from $61.2 million a year ago.
Cannabis sales were soaring from auto-flowering breeds to white widow feminized strains, but they were also slightly inconsistent. A California-based cannabis cultivator recently surveyed marijuana users across the country and located three key reasons demand was up in March. Let us take a glance at the factors driving increased cannabis sales to ascertain if this is often a trend that will continue and what it tells us about investing in cannabis stocks today. Buy Weed Online
Cannabis as An Outlet For Boredom During Community Quarantine
One of the more surprising responses from a survey was that quite 37% of individuals indicated they were consuming pot to alleviate boredom. This wasn’t a result of the 2017 New Frontier Data survey, so it’d be a result of people in isolation thanks to the pandemic and are trying to find ways to pass the time once they can’t set about their regular social lives.
Cannabis Is Good Handling Stress And Anxiety
Using weed to affect stress isn’t uncommon. 40% of marijuana users said they were using more pot during the pandemic, and 74% said stress and anxiety were the most reasons for their current cannabis use. With news stations running alarming headlines around the coronavirus pandemic and consumers worried pot supplies might become scarce, it isn’t hard to ascertain why anxiety and stress levels are high. Buy Weed Online
New Frontier Data conducted an identical survey in 2017 that found relaxation was the most reason (55%) people turned to Cannabis. However, stress and anxiety did not rank far behind, coming in at 40% and 39%, respectively. However, it does suggest that relaxing or relieving stress or anxiety remains the critical reason for cannabis use. Moreover, with stress levels higher because of the pandemic, it certainly is sensible that folks are consuming more Cannabis immediately.