Coronavirus isn’t impacting the #cannabis industry any more than it’s impacting other industries.
So... I hear it, but I disagree. Coronavirus isn’t impacting the #cannabis industry any more than it’s impacting other industries.
Cannabis consumers will continue to consume. Perhaps, in some cases, shifting from vaping and smoking to edibles.
Moreover, with so many people losing their minds over this virus, and many others in quarantine, it wouldn’t surprise me if cannabis consumption actually INCREASED during these crazy days, to deal with the associated stress and anxiety.
Sure, events will have less attendees, but that has nothing to do with the plummeting valuations and bottom lines of these public companies.
Public cannabis companies are fizzling out due to a combination of corporate mismanagement, outrageously excessive executive compensation, misguided acquisition and growth strategies, terrible marketing and branding strategies as well as the reality of their TRUE valuations coming to bite them in the tush.
Any "news" articles you see blaming #coronavirus for cannabis stocks tanking are legit fake news, bought and paid for by the drowning pubco's themselves. They were nosediving long before the first cough or sneeze in #Wuhan.
It’s possible to create correlations between almost any two things. However that doesn’t necessarily mean the correlation is correct.