Surprise! The spread of the COVID-19 illness can have a negative impact on pot stocks in a variety of ways.
In case you missed it, the World Health Organization (WHO) made the announcement that most people were expecting this past Wednesday, March 11: Coronavirus disease 2019 (COVID-19) is officially a pandemic.
The COVID-19 lung-focused illness has cropped up in 110 countries around the world, has been confirmed in close to 114,000 people, and has led to over 4,000 deaths, according to WHO as of March 10. Given COVID-19’s higher mortality rate among the elderly and people with compromised immune systems, this has led to seemingly unprecedented global responses at the governmental level, including a complete lockdown in Italy, as well as a halt to college classes, special events, and major gatherings in certain U.S. states.The thing is, coronavirus isn’t just affecting the physical well-being of the world — it’s also wreaking havoc on financial markets, and it has the ability to adversely affect supply chains in a variety of sectors and industries.
For example, you might think the fast-growing marijuana industry would be mostly exempt from coronavirus-induced panic. Unfortunately, that couldn’t be further from the truth. Here are four ways that coronavirus could affect the cannabis industry.
The biggest issue will likely come in the form of supply chain disruption. Although we often think of cannabis in terms of growing and processing the plant within the confines of, say, the United States or Canada, there are a lot of moving parts of the supply chain that originate from China. That’s because China is a low-cost producer, which is perfect for the still-nascent pot industry. [Read More @ The Motley Fool]
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