U.S. cannabis companies look to ‘4/20′ to light up sales

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Industry insiders expect the highest single-day sales ever for the cannabis sector on Thursday even as the industry faces increased scrutiny from U.S. lawmakers

From cannabis-infused flowers to edible weed gummies, marijuana companies are pulling out all the stops as they eye bumper sales on April 20 – a day referred to as “4/20″ in weed culture.

4/20, derived from a trope for smoking marijuana, typically sees cannabis companies such as High Tide, Canopy Growth, and Trulieve Cannabis Corp amp up promotions, throwing in exclusive deals and discounts to lure customers. “We’ll probably see two-and-a-half times the normal Thursday sales … we’ve been upping our production in anticipation of record sales,” said Nick Rinella, CEO of Hippos, which operates recreational and medicinal cannabis dispensaries in Missouri.

 

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