Cannabis sales in March 2020 totaled CAD 181.1MM, a nearly 200% increase from March 2019 sales of CAD 60.9MM!
Retail sales of regulated cannabis in Canada surged by 19% in March, reaching a record CAD 181.1MM. The spike in cannabis sales in March came even as overall monthly retail sales in Canada declined 10%.
Retail cannabis sales grew month-over-month in every province except Prince Edward Island, which is a very small province on the east coast of Canada, where cannabis stores closed March 19, then reopened on May 22.
On an annual basis, the CAD 181.1MM. sold in March represents a nearly 200% increase from March 2019 sales of CAD 60.9MM.
Some cannabis stocks had substantial gains yesterday:
The Supreme Cannabis (FIRE) CAD 0.39 + 25.8%
HEXCO (HEXO) CAD 1.09 + 23.9%
The Green Organic Dutchman (TGOD) CAD 0.58 + 19.6%
Village Farms Int. (VFF) CAD 8.25 + 14.0%
Pharmacielo (PCLO) CAD 0.98 + 14.0%
Canopy Growth (WEED) CAD 29.40 + 8.5%
Aphria Inc. (APHA) CAD 8.25 + 4.9%
There are 2 ETF's for cannabis stocks:
Canada: Horizons Medical Marijuana Life Science (HMMJ) CAD 8.35.
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