Cannabis companies are giddy as people use their stimulus checks to stock up on marijuana

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companies are gearing up for a boost in sales as stimulus checks start hitting people's bank accounts.

"Literally it'll be as simple as people will buy more weed," Ben Kovler, the CEO of Chicago-based cannabis seller Green Thumb Industries, said on a recent call with investors. "From the front lines, I can tell you it's bullish," Kovler told Insider in a follow-up interview."It's exciting for us. It's really all about the product."

When the first round of stimulus checks was distributed in April, cannabis dispensaries saw one of the biggest upticks in sales in the history of the legal market, according to cannabis software and data firm Akerna. In March, when lockdown orders first went into effect, people stockpiled cannabis products. as well.

 

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