Last week, the global financial market witnessed a sell-off due to concerns about the spreading coronavirus and its impact on the global economy. The S&P 500 Index and the Dow Jones Industrial Average fell by 15.0% and 17.3%, respectively. Last week was the worst week since October 2008. However, the cannabis sector fared better than the broader equity markets.
Colorado Gov. Jared Polis deemed marijuana dispensaries “critical” retail businesses in an executive order Sunday urging employers to reduce their in-person workforces, meaning they would stay open if other industries were forced to shutter to mitigate the spread of coronavirus.
On Friday, Ghana's parliament passed the Narcotics Control Commission Bill, which will allow the use and cultivation of cannabis for medical and industrial uses -- but only the variety that is better known as hemp.
Cannabis shares climbed on Friday as investors continued to bet the COVID-19 outbreak will prompt consumers to stock up. Statistics Canada also reported a modest uptick in monthly sales at pot shops.
As you’ve probably heard by now, Ohio Gov. Mike Dewine has announced a stay-at-home order in his ongoing effort to combat the outbreak of coronavirus.
Let me acknowledge right out of the gate that "best" is a relative term. The reality is that nearly every marijuana stock has been crushed during the coronavirus-fueled stock market crash. But some stocks have weathered the storm better than others. And some are better picks to buy while the market downturn continues.
Medical marijuana patients -- many of whom are immunosuppressed -- won’t have to enter cannabis dispensaries in Pennsylvania to pick up their meds.
Gov. Wolf has temporarily suspended regulations that require all dispensing to occur inside a dispensary. Patients may now go to a cannabis retailer and have their product brought to their cars by a budtender.
Hemp is federally legal. Under the 2018 Farm Bill, any grey area surrounding hemp’s legality has disappeared. Yet, many hemp companies face logistical hurdles preventing them from operating like normal businesses.
Shipping unprocessed hemp remains as one of the chief challenges for hemp companies. As the number of places growing hemp increases and the supply-chains grow and branch, shipping becomes an ever more important and valuable problem to solve.
