4/20/2020 may have to go under-appreciated this year, and the blessed potential of April 2020 is unsure. The COVID-19 pandemic caused a cascade of closures, including 420 Vancouver.
A Great Number of Losses To COVID-19
Emergency announcements around the world have resulted in the cancellation of events including Coachella, and SXSW. Postponement of industry events include:
- Spannabis Barcelona
- International Cannabis Business Conference in Berlin
- Hemp-CBD Supplement Congress postponed indefinitely by the American Herbal Products Association
- ICR Conference at Colorado State University-Pueblo
The list of postponements and cancellations goes on but already mentioned are concert events, research events, business events, and legislative events. From concerts that may correlate to an increase in sales to events based on sharing technology and innovation, almost all progress has stopped.
Potential monetary losses are significant. However, there is a bright side for producers, consumers, and investors. While the issues currently facing the cannabis industry are intimidating, they’re not only targeting the cannabis industry. The entire world is struggling.
Here at Buddies, we’re just trying to help you stay bubbly or calm with our products.
COVID-19 Might Supply Dream Stocks In Good Companies
Overall, the cannabis industry is slowing down in comparison to an excellent 2018 and 2019. Projections back then were considerably optimistic. As the reality set in at the beginning of the year, cannabis stocks were already starting to slow down. Now that COVID-19 has caused a global emergency, stocks are taking a substantial hit. This loss is likely to even out as COVID-19 fades away, but will be difficult in the interim.
Several companies may fail if they were having particularly bad quarters. As cannabis remains federally illegal in the United States, the state will be responsible for most assistance supplied to cannabis businesses during this time. Despite this, companies that have proven their resilience through this emergency will stand to start winning once again after the economy evens out.
Risky or daring investors will have a field day with this opportunity. Several brilliant companies are offering excellent stock options right now, and if they make it through the pandemic, investors stand to be big winners.
COVID-19: Demand Is Burgeoning, Cannabis Is Essential
Throughout this pandemic, the American cannabis industry has seen demand increase throughout the nation. Chicago is seeing numbers that rival typical 4/20 sales, and to promote social distancing they’re allowing dispensaries to serve customers outdoors.
With 211,000 Americans employed through the cannabis industry, keeping the cannabis economy online keeps families alive. At Buddies, this is our day in and day out reality.
Although, perhaps even more important is the fact that cannabis is being respected as an essential medicine.
Though an alternative to pharmacology, cannabis provides treatment options for people suffering from conditions as varied as PTSD and arthritis. Seeing the industry be able to continue to heal people even in the time of an emergency is inspiring.
Unfortunately, supply chain issues continue to plague the industry. While cannabis centers will not go dry, prices may be high. Many centers are also limiting how much customers can purchase.
However, the most affected people in the cannabis industry are the inmates locked in jail during the COVID-19 outbreak for cannabis-related charges. Many of these people have no other charges against them and deserve to be freed, especially in a pandemic.
This petition is a proactive way to try and help these prisoners. Code for America is a lovely nonprofit working on the ethical treatment of those with cannabis charges year-round. Stand up for those of us who can’t raise our voice.