Stuck in quarantine for weeks on end and hoarding necessities, consumers have made their Covid-19 buying preferences extremely clear: toilet paper, frozen pizza, jigsaw puzzles and hand sanitizer.
Eight Cannabis Leaders Discuss Emerging Trends in the Industry
The U.S. Department of Agriculture has released guidelines for hemp companies to apply for and receive federal loans, Marijuana Moment reports.
Two types of entrepreneurs emerge during a crisis: Those who panic, kicking into survival mode thinking the only solution is to wait out the storm and hope everything works out at the end. And those who are true change-makers, recognizing opportunity in a time of crisis and springing into action. These people have one thought in mind: What can I do to help?
It took almost two years for Massachusetts marijuana company T. Bear, Inc., to receive approval to commence operations, which finally came down on March 20, recounted owner and CEO Angela Brown.
That approval authorized the East Wareham company to start operations on March 24, which happened to end up being the day an order from the governor shut down businesses deemed non-essential, including marijuana companies.
Since the COVID-19 pandemic took hold of the U.S. last month, the legal cannabis industry has transformed the crisis into an opportunity to demonstrate maturity, dismantle biases, and solidify its role in the economy, communities, and people’s lives. While challenges persist, the last six weeks have represented a major leap forward for the sector that will help position it for long-term success in several ways.
An Essential Business
Illinois residents bought $2.6 million more worth of recreational cannabis products in April than they did in March, state regulators announced Monday. The state's highest month of non-medical marijuana sales since the first month of legalization coincided with the first full month of Gov. J.B. Pritzker's statewide stay-at-home order.
Canopy Growth stock and other marijuana stocks rose on Monday after major investor Constellation Brands (STZ) late Friday moved to increase its stake in the Canadian pot producer, offering a vote of confidence to a company that is scaling back after racking up steep losses.
The cannabis industry is more complicated than most, and changes to its operations during the pandemic make it only more complex. Deemed as essential service providers but also federally illegal operators, cannabis growers, processors and sellers are working under new restrictions but barred from any federal government support.
The best place to find an opportunity is often the last place you want to look—in the thick of a problem. That was the case for the founders of cannabis startup Plain Jane, who had the brilliant idea to create low-odor hemp cigarettes but no startup cash.
