Where most companies are seeing a downward trend in business, the Cannabis companies are seeing a spike in sales. The bump in sales will reflect on the next (not upcoming / pending) QTR report and will aid the business going forward and allowing time for new stores to open in ON.
With the need to stimulate the economy, ON may actually reconsider the slower than expected rollout and issue more licenses. Regardless, many new stores are planned for Alberta and the rest of the country.
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MONTREAL -- To manage stress in the face of the coronavirus pandemic or just to pass the time under quarantine, Canadians and tourists have been lining up for several days at pot shops and flooding online cannabis retailers' sites to stock up on the mood-altering drug.
In front of the Societe Quebecoise du Cannabis (SQDC) boutique on Sainte-Catherine Street, Montreal's main commercial drive, a long line has formed before it even opens.
Link to Full Article: https://www.ctvnews.ca/health/coronavirus/cannabis-sales-soar-as-canadians-hunker-down-to-stop-coronavirus-1.4860123 -------------------------------------------------------------------
Ontario Cannabis Store spokesperson Daffyd Roderick says the retailer received almost 3,000 orders on Saturday, an 80-per-cent increase over an average Saturday.
Roderick says the last three days have brought an increase in the volume in sales on OCS.ca and a high demand for same-day and next-day delivery.
Link to Full Article:
https://globalnews.ca/news/6686754/cannabis-sales-coronavirus-pandemic/