When the pandemic began last Spring, Mary Jane’s Medicinals, which sells CBD and cannabis-infused topicals, took a big hit. April was “one of our worst months of sales ever,” said chief executive and founder Dahlia Mertens. A rebound soon followed though and by August sales were as high as they had ever been. The company’s growth this fall has been dramatic she said, doubling to $100,000+ in income for the month November. Now the holidays are approaching.
2020 might be a very green Christmas for the cannabis industry.
Mitch Baruchowitz, managing partner at Merida Capital Holdings, a New York-based private equity firm working in the sector, believes more cannabis products will be sold this holiday season than any before. Several diverse factors contribute he said. Acceptance of cannabis has continued to grow along with legalization, evidenced by recent ballot wins in both right and left-leaning states.