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‘Cannabis Treats COVID-19’ Rallied Weed Stocks: Cannabis Could Aid Pandemic—If Someone Pays To Find Out

Photo from piqsels.com, via Creative Commons (CC0)

Article by Chris Roberts, Forbes

Already down when the coronavirus pandemic kicked all markets, a few cannabis stocks enjoyed rallies Friday — gains connected, it would seem, to the coronavirus pandemic.

Colorado’s CBD giant Charlotte’s Web, named for pediatric cannabis patient Charlotte Figi, who died last month of complications from the coronavirus, was up 24 percent on the Toronto Stock Exchange. But the big gain was on NASDAQ, where shares in Canadian firm Sundial spiked 50 percent—a jump, to $0.83 a share, that’s nothing close to wiping out last year’s losses, but nonetheless a very big rally in context.

And a rally “vaguely” timed, as MarketWatch reporter Max Cherney observed, with the New York Post’s publication Thursday of its take on the big story that had gone viral on Facebook earlier that month, and was later flagged as fake news: the claim, first made in a preclinical paper published in April, by Canadian scientists that certain high CBD strains of “cannabis could prevent and treat coronavirus.”

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