As consumers loaded up on legal pot amid COVID-19 concerns, March Cannabis sales soared by 19% | 2020-05-25 | Investing News


Click to enlargeWhile overall March 2020 retail sales were down in every Canadian province, Cannabis sales rose higher in March (month-over-month) thanks to stocking up and supply concerns.

Statistics Canada said $181 million worth of cannabis was sold in March, up 19.2 percent from the prior month. That one-month gain was one of the biggest monthly jumps since recreational pot was legalized in October 2018. Sales increases were observed in every province and territory, except for Prince Edward Island, which temporarily shut down pot stores that month.

Quebec led the country with a whopping 29 percent rise in pot sales from the prior month, while Ontario, Alberta, and British Columbia also posted double-digit percentage gains.

New to investing in Cannabis? Check out Stockhouse tips on How to Invest in Cannabis Stocks and some of our Top Cannabis Stocks.

For more of the latest info on Cannabis, check out the Cannabis Trending News hub on Stockhouse.



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