A surge in cannabis sales during the coronavirus pandemic and the increasing legalization of cannabis are sparking new interest in cannabis-related startups.
Driven by a surge in cannabis use during the COVID-19 pandemic, industry entrepreneurs and investors are gearing up for even greater growth in the industry as cannabis legalization spreads and the U.S. economy reopens.
Startups in cannabis technologyincluding those who enabled home delivery of weed got a big boost during the pandemic. More and more Americans took advantage of these services, sparking investor interest in companies that offer or support the entire digital distribution process. From crop management tools to compliance and ecommerce software for an industry that is still a legal gray zone at the federal level.
Cannabis entrepreneurs say they need to act quickly and build their brands before full US legalization levels the playing field - a process many expect to get underway this year.
Restore cannabis stock prices
All told, investors have put more than $ 2018 billion into cannabis technology startups in North America since 2,5. That interest comes as shares of publicly traded cannabis companies - many of which are listed in Canada for exclusion from US stock exchanges - begin to recover after a brutal sell-off in 2019.
Read more reuters.com (Source, EN)