OREGON (WIFR) — Cannabis sales on the west coast saw an increase thanks to the COVID-19 pandemic this spring.
Sales in Oregon of cannabis products in May were up 60 percent compared to the same month last year. For the first time, sales in the state climbed to $103 million, compared to $64.38 million in May of 2019.
As early as March, cannabis traders reported an increase in sales on 84 percent of days following the coronavirus outbreak, according to Kryptoszene.de, an independent news and education portal based in the German-speaking market.
This development is also reflected on the trading floor. While the German Stock Index DAX rose by around 16.6 percent last month, numerous listed cannabis companies boasted higher gains.
In a five-year review, the Google trend score for the search term pair “cannabis stocks” stands at just 19, with a value of 100 representing the largest possible relative search volume, according to Kryptoszene.de.