Are you above the legal age to view this content in your province/state?

Home / Industry News / Cannabis Industry Continues to Adapt During Coronavirus Crisis

Cannabis Industry Continues to Adapt During Coronavirus Crisis

Cannabis Industry Continues to Adapt During Coronavirus Crisis

Canada, March 4, 2020 (420Intel)- It is no secret that the coronavirus pandemic has sent shockwaves throughout the global economy. 

Many industries are doing their best to limp along as much as reasonably possible, while other industries have been shut down entirely.

One industry that seems to be adapting to the situation better than others is the emerging global cannabis industry, and that’s likely not a coincidence.

Cannabis companies have operated in a constantly evolving landscape since the earliest days of the legal industry, and hurdles and challenges are virtually guaranteed, albeit not in the form of a pandemic.

Canada’s Government Looks To The Cannabis Industry

As with many countries, Canada is currently trying to tackle a backlog of coronavirus tests. Medical professionals have gathered a significant amount of samples from patients, however, the samples cannot be tested fast enough.

According to media reports, Canada’s federal health department recently sent a message to licensed cannabis researchers and labs asking if entities could help test the backlog of samples.

Canada’s cannabis industry is the most developed at a national level given the fact that it is only one of two countries to implement a legal adult-use cannabis system.

Per the media reporting, as confirmed by at least one major cannabis company in Canada, members of the cannabis industry will work hard to help with the government request, which is a truly inspiring thing.

Cannabis Is ‘Essential’ And Being Treated As Such

A growing number of jurisdictions are designating cannabis, especially medical cannabis, as ‘essential’ during the coronavirus.

That designation means that certain types of cannabis business models, services, and products will not be shut down during ‘shelter in place’ periods, which is fortunate.

However, that ‘essential’ designation is only as good as the cannabis industry’s approach to battling the coronavirus. 

If international cannabis companies do not take the matter seriously, and fail to take necessary precautions, it could result in the virus spreading via packaging moving through the supply chain, just the virus spreads that way in other industries.

The virus could also spread via other means, not the least of which is via human interactions in the workplace. Cannabis companies are still operating, so work facilities need to implement and enforce coronavirus strategies accordingly.

Cannabis Companies Are Stepping Up

Fortunately, the cannabis industry as a whole appears to be taking the matter very seriously.

Businesses and organizations are not only stepping up their own strategies, many are also helping spread awareness that other companies and organizations can benefit from regarding best practices.

A number of cannabis companies and industry organizations are making it widely known what their strategies are via their websites and social media.

New technologies are being harnessed and innovations are no doubt occuring in the cannabis industry on a daily basis right now out of necessity

If the cannabis community can continue to step up in the way that it has, it will hopefully come out stronger on the other side of the pandemic than when the pandemic started.

Disclaimer

Investment Value Finders specializes in providing opinions and information on stocks to individuals who wish to receive them. Our reports are construed for information purposes solely and are distributed free of charge to individuals who wish to receive them.


Investment Value Finders does not promote, condone or advocate licit or illicit drug use. Investment Value Finders cannot be held responsible for materials or contests posted on its website pages, or pages to which we provide links, which promote, condone or advocate licit or illicit drug use or illegal activities.


DO NOT BASE ANY INVESTMENT DECISION UPON ANY MATERIALS FOUND ON THIS WEBSITE. We are not registered as a securities broker-dealer or an investment adviser. We are neither licensed nor qualified to provide investment advice.


Investment Value Finders occasionally receives direct compensation for hosting links (or other* advertisements) to third party content that may be subject to disclaimer pursuant to Section 17(b) of the Securities Act of 1933. For those instances where the link text contains company or stock-specific mention, we provide the following list of compensation received in order to ensure full disclosure and transparency.


Investment Value Finders is intended for those 21+ years of age only!

Check Also

BACK TO NEWS FSD PHARMA INC. ANNOUNCES C$10.125 MILLION PRIVATE PLACEMENT

BACK TO NEWS FSD PHARMA INC. ANNOUNCES C$10.125 MILLION PRIVATE PLACEMENT

TORONTO / June 4, 2020 / FSD Pharma Inc. (NASDAQ: HUGE) (CSE: HUGE.CN) (FRA: 0K9A) …