Bank of America recently said that higher demand for cannabis had been seen in the US as tens of millions of people are confined to their homes as the government limits mass gatherings and shutters businesses.
“Our checks across North America were consistent: regardless of region, cannabis purchases have accelerated,” BofA analyst Christopher Carey said in a note. “While likely on pantry loading, it’s not unreasonable to think there will be some boost to per capita consumption as people stay at home longer.”
The explosive demand for cannabis was the most visible in California as videos surfaced on Twitter of long lines at pot shops after Gov. Gavin Newsom told residents across the state to “stay home.”
Los Angeles County has considered “cannabis dispensaries, or any related and/or ancillary healthcare services,” an “essential healthcare services,” which means the industry will stay open during the pandemic.