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The coronavirus has had many different effects on marijuana stocks. In only a matter of weeks, the world has gone into isolation with museums, monuments and cities altogether being all but shut down. The cannabis industry has felt the blunt effects of this virus wholly. In only a short period of time, we have seen many billions lost in value across the board. And, this is not just with pot stocks. It seems as though the whole stock market is struggling to cope with this worldwide event. But, with any large event, comes a new beginning once it is all over. The end of this may not be in sight right now, but it does look like the world is beginning to come to grips with our current reality.
Are These Marijuana Stocks Going To Be De-Listed?
With social distancing and isolation surrounding the public, those who wish to consume cannabis have turned to delivery services to get their products. This means that cannabis companies who offer delivery, have seen a sharp uptick in sales in only a short period of time. Those companies such as MSOs or other retail establishments have worked tirelessly to stay open and give those who use cannabis medicinally, the option to do so. The gains with certain cannabis operations are mostly being seen in California and select parts of Canada, where the infrastructure for cannabis delivery is extremely in place.
Californian Cannabis Delivery Is on the Rise
In the past two weeks, cannabis companies that offer delivery services have seen a massive uptick in sales. Ganja Goddess, a local cannabis retailer, has stated that it has seen a rate of 10% increase per week for the past month. With most of the state on quarantine, many cannabis operators are offering delivery or in-person pick up as a way to cope with stay-at-home orders. States of emergency are being declared around the state in every major city, with other states also following suit.
Companies such as Curaleaf (CURLF Stock Report) and Cresco Labs (CRLBF Stock Report) are two MSO that both work out of California to some extent. Although these two pot stocks have not seen great news regarding their stock price, they are reporting higher sales in certain markets. Investors should consider that this is a very short term problem right now, and sales may not remain this high for long. For now, however, it looks like people will continue to need cannabis, and those who can supply it will see the benefits.
What the Near Future Could Look Like for These Pot Stocks
The next few weeks are extremely uncertain for investors. The public knows little about what will happen during that time. But, it seems clear that businesses are working to cope with the viral outbreak. They are doing this by offering delivery, or window pick up as to limit contact. With more people at home, it seems as though the demand for cannabis could go up. Those who need marijuana medicinally will continue to do so, but recreational users, may use more now than ever. Only time will tell what happens in the next few months. Hopefully, the coronavirus pandemic can begin to slow down in severity, and we can all soon go back to normal life.
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