Florida Hashish Market Replace: Coronavirus Stocking?

Released
March 31, 2020




The total milligrams of cannabis sold in Florida went down week by week, but we believe this is a product of panic buying due to coronavirus concerns.

The complete dataset and interactive diagrams can be downloaded here.

If you look at the two months of weekly data, you can see that the previous week (ending March 19) of a total of 387.4 million milligrams was a significant spike of 38% compared to the normal weekly percentage change of -5% + 10%. A 20% decline seems weak, but the actual number of milligrams sold and year-over-year growth have put the number into better perspective.

02/06/20 02/13/20 02/20/20 02/27/20 3/5/20 3/12/20 03/19/20 03/26/20
Total milligrams sold 260.942.709 248,488,771 278, 157, 743 273,589,687 270,354,437 280, 310, 404 387,374,477 311,372,822
Weekly percentage change 10% -5% 12% -2% -1% 4% 38% -20%

We’re not surprised at a weekly drop in milligrams sold after such a big increase the previous week. If you look at the percentage growth in total milligrams sold over the previous year, the growth rate remains incredibly strong at 386%.

02/06/20 02/13/20 02/20/20 02/27/20 3/5/20 3/12/20 03/19/20 03/26/20
Y / Y% change in milligrams sold 298% 285% 353% 293% 296% 321% 398% 386%

No significant market share has changed in the past four weeks.

The state’s top 10 retailers appear to be trading a small percentage of shares back and forth week after week. The largest share gain and loss over the past four weeks was +1.2 for Trulieve and -1.1% for Curaleaf.

The number of patient shares from week to week remains robust in the 2-4% range, as does the total milligrams sold per patient, which is a good sign of future demand.

02/06/2020 02/13/2020 02/20/2020 02/27/2020 05.03.2020 03/12/2020 March 19, 2020 March 26, 2020
Qualified patients 311.266 314.234 317.106 321.144 323,582 325.868 327,492 329.704
Weekly percentage change 0.9% 1.0% 0.9% 1.3% 0.8% 0.7% 0.5% 0.7%
Weekly Milligrams Sold / Patient 838 791 877 852 836 860 1.183 944

Categories: Analysis

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