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Week in Review: Recreational marijuana sales tumble, cannabis stores open during pandemic, Harvest-Verano deal dead & more

COVID-19 causes cannabis sales to ebb, flow Only a few days after adult-use marijuana sales soared amid the coronavirus scare, they took a nosedive. MJBizDaily takeaway: The roller-coaster ride in marijuana sales was to be expected. Initially, consumers, panicked by the pandemic, stockpiled products. The sudden drop might mark a natural decline after consumers stocked up before […]

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MJBizDaily podcast: Recreational marijuana sales fall after rising on COVID-19 fears and more

Adult-use cannabis sales plunged this week after briefly hitting new heights attributed to coronavirus concerns. Some of the other top headlines addressed in this week’s MJBizDaily podcast include:   More states say medical cannabis shops can stay open amid the COVID-19 outbreak. States have allowed marijuana businesses to remain open despite coronavirus stay-at-home orders. Kentucky hemp […]

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VIDEO: Effects of COVID-19 crisis on marijuana retailers as many shift to curbside service, delivery

States and cities continue to release new ground rules establishing if and how cannabis retailers can keep doing business after statewide stay-at-home orders are put in place to try to slow the coronavirus crisis. Many marijuana store owners are shifting to manage new curbside-pickup and expanded delivery services, even as they try to keep the health and […]

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VIDEO: Coronavirus’ impact on the cannabis supply chain

Click on the video below to see Marijuana Business Daily’s Bart Schaneman discussing how COVID-19 is affecting the worldwide marijuana supply chain. The health crisis has revealed fragility in the cannabis supply chain – from vape hardware to marijuana packaging – but it also has shown that MJ companies can shift quickly to develop creative solutions to […]

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Coronavirus impact felt in cannabis industry M&A as Harvest Health-Verano deal scuttled

The once-booming market for cannabis mergers and acquisitions is now feeling fallout from the COVID-19 pandemic, on top of all the other problems that have brought M&A activity to a virtual halt in the industry. Harvest Health & Recreation’s planned acquisition of privately held Verano Holdings was called off Thursday, with the companies citing “prolonged obstacles” […]

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Cannabis labs watchful of supply disruptions during coronavirus crisis as testing demand remains strong

Marijuana testing labs report steady business as the COVID-19 outbreak rolls on, though concerns loom over the availability of protective equipment such as gloves and masks and other cleaning supplies. It’s a topic the cannabis industry will keep a careful eye on because, if the coronavirus pandemic eventually causes hiccups in testing, that could slow […]

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From marijuana to hand sanitizer: Cannabis companies pivot to produce, donate essential products for coronavirus fight

(This story has been updated to include information from CannaCraft about the costs and processes associated with formulating hand sanitizer.) Many state authorities have deemed U.S. cannabis companies “essential” businesses during the coronavirus pandemic and allowed them to keep their doors open – and now some marijuana businesses are producing an essential product to help […]

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