Dispensaries throughout Massachusetts are sure to spend this weekend preparing for their big day on Monday. That's when the recreational cannabis market will come roaring back, after being effectively shut down during the opening phases of the "stay in place" measures enacted by the state.
As part of a general move to reopen certain businesses in the wake of the coronavirus pandemic, the state's Cannabis Control Commission is permitting sellers of recreational product to peddle their wares. They won't be fully open, but will be allowed to conduct curbside sales.
Image source: Getty Images.
Massachusetts was exceptional among states that have legalized recreational cannabis in that it did not classify dispensaries of this form of the drug as essential businesses -- i.e., those allowed to operate during the widespread mandatory shutdowns in the early stages of the pandemic.
All told, according to the commission, there are 44 dispensaries in Massachusetts selling recreational marijuana. Of those, 14 sell only this form of the drug and do not retail medical cannabis.
One notable dispensary operator in the state is marijuana company Curaleaf (CURLF 5.06%), headquartered in the town of Wakefield. The company operates three retail outlets that sell recreational product; all will be dispensing these goods starting on Monday.
"We expect sales to be brisk as a result of pent-up demand," Curaleaf said, without providing any estimates. The company added that it is complying with all regulations set by the state for this reopening, and it will take the appropriate steps to safeguard the health of employees and customers.
In contrast to the slump of the wider stock market on Thursday, Curaleaf's stock rose on the day to close nearly 3.3% higher.
