Every sector of the economy is being disrupted by the COVID-19 pandemic, and cannabis is no exception. However, the cannabis industry is uniquely positioned to weather the current crisis and has the potential to kick-start economic growth when state legislators return to work.
Extraction technologies today fall into three distinct categories: clean, relatively unprocessed rosin; solvent-based extractions; and highly technical distillation and isolations. Each has a place in the consumer market of concentrated cannabis products, but they each supply a different niche.
As increasing numbers of countries and states move to legalise and regulate the purchase, production and cultivation of cannabis, the market is responding accordingly.
Right now, marijuana legalization has become more important than ever. The medicinal benefits are evident amid COVID-19. While you would expect people to buy essential items, they have also rushed to stock up on marijuana. As a result, state governments in the US and the Canadian government made marijuana an essential item. Lebanon is the first Middle East country to legalize medical marijuana amid the COVID-19 pandemic.
Early in Dr. Sue Sisley’s medical career, military veterans with post-traumatic stress disorder told her that smoking marijuana prevented nightmares and helped them sleep. Sisley, a primary care physician and psychiatrist in Scottsdale, Arizona, who has treated vets for two decades, said she was initially skeptical of her patients’ claims, but their families vouched that pot was helping with their symptoms.
As shelter-in-place orders drag on and the U.S. economy limps through the second quarter, investors, economists and politicians are asking important questions about what the post-outbreak economy will look like and how quickly the U.S. can replace the 26 million jobs it has lost in 2020.
Many Americans have been turning to cannabis to help them get through the stress of the COVID-19 outbreak, but there’s a strong case that U.S. marijuana legalization could help the economy recover as well.
As the U.S. economy looks to reopen in multiple states, a lot of American cannabis stocks are still trading near multi-year lows despite limited store closures. The cannabis sector got a major seal of approval with most stores remaining open as states unanimously approved dispensaries as essential stores.
The Covid-19 outbreak upended daily business operations and consumer habits in nearly every industry. In the world of legal cannabis, restrictions on business and travel are creating seismic shifts that could potentially restructure the unique culture and idiosyncrasies that define the industry.
