Marijuana Business News

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Wed
18
Mar

Canada’s Cannabis Stores Face A Rush Amid Coronavirus Stockpiling

Marijuana retailers in many parts of the country are reporting a spike in sales as customers stock up ahead of potential sales disruptions during the COVID-19 outbreak.

And they may not be wrong; Canada’s largest cannabis company on Tuesday announced it is temporarily shutting all its retail locations and focusing on online sales.

Wed
18
Mar

B.C. cannabis wholesaler ups cleaning, social distancing so citizens can still access weed

British Columbia’s Liquor Distribution Branch (LDB) is taking steps to ensure that if residents are socially distancing themselves for the duration of the coronavirus epidemic, they won’t have to do it without weed.

The provincial wholesaler is working within the industry to mitigate any possible supply issues as cannabis enthusiasts worldwide start stockpiling the drug.

Tue
17
Mar

4 Cannabis Stocks You'll Regret Not Buying During This Correction

Batten down the hatches, because volatility has returned in a big way for the stock market. Over a 12-session stretch, ending this past Tuesday, March 10, the 123-year-old Dow Jones Industrial Average logged its three biggest single-day point gains in history, as well as six of its 11 largest single-day point drops of all time.

If you're a short-term trader, these moves have been nauseating. But if you're a buy-and-hold investor, this volatility has been an opportune time to buy great businesses on the cheap.

Tue
17
Mar

Canopy Growth closing legal pot shops amid virus outbreak

Canopy Growth Corp. is temporarily shutting down its corporate-owned cannabis stores across the country Tuesday due to the COVID-19 outbreak, the company said in a statement. 

Canopy, which owns 23 legal cannabis stores in Manitoba, Saskatchewan and Newfoundland and Labrador, will close its stores for an undetermined period of time at 5 p.m. local.  It is also closing its visitors centre located at its headquarters in Smiths Falls, Ont. 

“We have a responsibility to our employees, their families, and our communities to do our part to ‘flatten the curve’ by limiting social interactions. For us, that means shifting our focus from retail to e-commerce," said David Klein, chief executive officer of Canopy Growth, in a statement. 

Tue
17
Mar

Coronavirus Fears Drive Cannabis Delivery Sales Higher

The nation's rapid shift into social distancing and isolation has been lousy for most segments of the U.S. economy, but one niche seeing significant growth in recent days is the licensed cannabis sector, home to companies like Curaleaf (OTC:CURLF), and Cresco Labs (OTC:CRLBF). 

Tue
17
Mar

Cannabis sales surge as Ontario declares state of emergency

As public health officials work to contain the coronavirus, Canadians are doubling down on cannabis.

Before the premier announced the province was in a state of emergency on Tuesday, Ontario Cannabis Store experienced a surge in sales. Sales were up 80 per cent on Saturday and 100 per cent on Sunday, Daffyd Roderick, director of communications for the OCS, told the The GrowthOp in an email. More than 7,000 orders were placed over the weekend.

Tue
17
Mar

Ont. and Que. cannabis distributors see sales spike amid COVID-19

Some provincial cannabis distributors are seeing Canadians stock up on pot products amid an outbreak of the novel coronavirus.

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.

The OCS has also noticed that authorized cannabis retail stores are reporting an increase in customer volume.

Societe quebecoise du cannabis says in an email to The Canadian Press that it has also experienced an increase in sales over the last few days, but declined to say how big the spike is.

Tue
17
Mar

Check out this secretive, yet legal, cannabis shop in Ontario

The first licensed cannabis store in Waterloo is open for business.

Located on King Street South, Bud & Sally Cannabis Co. recently welcomed local residents to check out the cannabis-infused products on offer, CTV News reports.

As the only pot shop in town, the launch drew limited patrons. It’s not as if there’s a significant amount of local competition in the region, although Kitchener’s Meta Cannabis and Cambridge’s Tokyo Smoke are but a quick drive away.

One Waterloo resident said lack of publicity may have been the cause.

Mon
16
Mar

How are Canadian cannabis companies protecting employees from COVID-19?

As health experts urge people to maintain social distancing, it remains to be seen how effectively Canadians can best practice this in the workplace.

As far as federal legislation goes, there is no law in place that “requires employers to provide workers with paid sick leave and only two provinces — Quebec and Prince Edward Island — offer paid sick leave,” National Post reports.

Mon
16
Mar

The Importance of Branding in the Cannabis And Hemp Industries

Although cannabis and hemp have been historically used for hundreds, if not thousands, of years, the legal and regulated industry is still in its infancy.

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