WTOP News

  • Cannabis stocks are flying high as investors see green following a recent surge in marijuana sales as people forced to stay home because of the coronavirus pandemic stock up.
  • Shares in most of the big cannabis companies are up sharply this week following reports of a spike in demand as consumers attempt to stock up in fear of a dragged-out shutdown of stores throughout the U.S.
  • A snapshot of adult-use marijuana sales over several days last week showed increases of more than twofold in California and a 50% spike in Washington state, according to data from industry tracker Headset.
  • We believe other states are likely seeing similar upticks in sales, Canaccord Genuity analyst Bobby Burleson wrote in a research note last week.

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