The notion that cannabis may cure, treat or prevent COVID-19 makes some people roll their eyes. But the scientific uses of the cannabis plant do not surprise those of us who’ve worked in this industry for many years. And the scientific community appears to be gathering data supporting the notion that cannabis may be beneficial in preventing COVID-19.
The designation of the cannabis business as essential caught some states and some state officials off guard.
It was a classic watershed moment when 20 of the 33 states across the U.S. that allowed some form of sale and consumption of marijuana had those businesses designated as essential businesses in March during the early days of the coronavirus outbreak.
Scaling a business is always a high-stakes endeavor, but the risks are magnified in the hemp and cannabis space, where every business is in perpetual startup mode and regulations vary from state to state, week to week.
Just because it’s difficult doesn’t mean it can’t be done.
And what the industry can do to ensure regulation in the near future.
It's been over a year since the 2018 Farm Bill legalized the commerce of hemp and CBD. Yet, CBD is still not regulated as a dietary supplement by the FDA.
This may come as a surprise to many people who’ve already incorporated CBD into their lives. Among the 14 percent of Americans who use CBD, most believe those products are FDA regulated.
Pennsylvania cannabis dispensaries recorded a 70% increase in weekly patient visits from February to August, which fully encompasses COVID-19’s spread throughout the United States.
Legal marijuana could become less of a strain on Colorado's environment if the pot industry embraces a new set of waste removal and packaging rules — but not without a three-way tug-of-war between saving money, preventing black-market sales and encouraging environmental sustainability.
There has never been a more crucial time to automate your cannabis operation. With the COVID-19 crisis settling in for the long haul, businesses are starting to think about how to increase efficiency and profit, while operating a facility safely and comfortably for workers and managers.
As the cannabis sector becomes more competitive, the margins get tighter, and the manufacturing and production environment encounter new challenges, businesses must embrace automation to survive.
Need convincing? Here are the top five reasons to automate your cannabis business now.
Nothing in 2020 has gone according to plan, and cannabis legalization is no exception. According to Vox's criminal justice and public health reporter German Lopez, at least 18 states were predicted to legalize cannabis to some degree this year, either through their legislatures or via ballot measure. 2020 was supposed to be a big year for cannabis legalization.
And then COVID-19 happened.
The demand for marijuana is high. Cannabis companies are ready with a variety of products. So what's preventing the legal cannabis market from reaching its full potential? Estimates by Grand View Research show that the global legal marijuana market could be worth $73.6 billion by 2027. And growth is quite evident from the surge in cannabis sales amid the coronavirus pandemic.
Wall Street analysts say a Democratic sweep in November that puts Joe Biden in the White House and the party in control of the Senate could be a boon for cannabis stocks. Analysts at CIBC and Cowen picked seven stocks to bet on that would benefit investors if the Democrats win, including Green Thumb Industries, Curaleaf, and Canopy Growth. As public support for cannabis reform picks up steam in the US, Wall Street analysts say signs are pointing to a turnaround in the formerly troubled sector, especially as a few companies posted solid earnings over the past week.
