Healthcare workers across the U.S. are tirelessly combatting the coronavirus, but a critical shortage of personal protective equipment (PPE) is threatening their ability to continue the fight. The widespread demand for PPE coupled with a seemingly never-ending supply shortage could leave cannabis cultivators that use the same equipment on the outside looking in.
How are cannabis sales going to be impacted by the coronavirus pandemic? That's the question many cannabis professionals are asking themselves as the number of COVID-19 cases in the U.S. continues to climb and the economy grinds to a halt. Market research firm BDS Analytics has been tracking cannabis sales over the last two weeks, and on Friday advised firms to brace for a potential downturn.
The National Cannabis Industry Association (NCIA), a Washington D.C.-based trade group representing the marijuana sector, has pushed its annual business summit and expo back to September as a result of the coronavirus pandemic.
Several Massachusetts-based cannabis firms have stepped up to make thousands of gallons of much-needed hand sanitizer that will be donated to the Massachusetts Emergency Management Agency for distribution to hospitals throughout the Commonwealth.
Recreational cannabis dispensaries across Massachusetts have been forced to close their doors after Governor Charlie Baker issued an emergency order requiring all “non-essential” businesses to shutter until April 7, 2020 because of the coronavirus pandemic.
Nearly every major industry is feeling the ripple effects of the coronavirus pandemic, and responses from several notable cannabis firms are trickling in. As of press time, there were 255,305 confirmed and presumptive positive cases of COVID-19 worldwide and 10,444 deaths, according to Johns Hopkins University & Medicine.
The coronavirus is wreaking havoc on virtually every aspect of American life as federal and state officials work to limit the spread of the COVID-19 disease. So how has the cannabis industry been affected by the unprecedented measures being taken to combat the coronavirus across the globe?
A growing number of high-profile cannabis industry events have been put on hold due to concerns over the spread of a novel coronavirus disease, COVID-19, which earlier today was classified as a global pandemic by the World Health Organization (WHO).
Yet another prominent publicly-traded cannabis firm is taking drastic measures to reduce costs and achieve profitability. After the market closed Wednesday, Canada’s Canopy Growth Corporation (TSX:WEED, NYSE: CGC), the world's largest cannabis company by market cap, announced plans to shutter two cultivation facilities and cut 500 jobs.