It seems every sector sold off during the pressure of the Covid-19 stock market decline, airlines, retail, technology, and energy. Some of these stocks will never come back, and others will need bailouts by Uncle Sam. One sector emerging from the sell-off shock is Cannabis, Hemp and CBD related products and sales.
Cannabis stocks finally saw some light at the end of the tunnel after a tough 2019, and the shift in consumer demand supporting marijuana products is giving a bid to the sector. It’s not only marijuana flower sales, but it’s CBD products, edibles, and all related product lines.
NORML Executive Director Erik Altieri said it is “encouraging to see our nation’s public policy in practice is finally catching up to where the vast majority of Americans have been for years.”
“The recognition by our government officials that cannabis is indeed not just here to stay, but an essential part of life for millions of Americans—particularly in the patient community—is a welcome move in the right direction,” he said. “It is also a move that could not have come at a better moment for those who still require access to maintain quality of life during these trying and troubled times.”
Analysts have been looking for a logical catalyst for the Cannabis Sector, few knew it would be the shift in consumer demand due to shelter in place.