The new year, in its three-month existence, has sent the cannabis industry through the wringer—to put it lightly. Cannabis producers like Canopy Growth (TSX:WEED) (NYSE:CGC) are closing down major facilities, putting hundreds out of work, while stocks like MedMen (CSE:MMEN) (OTCQX:MMNFF) have dropped on poor earnings performances, and commodities like Tilray (NASDAQ:TLRY) are doing similar in market anticipation. Then there's the coronavirus.
COVID-19 has resulted in cannabis companies' worst nightmare: seeing a shortage of materials, as many, including KushCo Holdings (OTCQX:KSHB), get products from China.
But the cannabis industry doesn't just involve distributors, cultivators, and CEOs. The industry would be nowhere if it weren't for the customers, the medical cannabis patients and the recreational users. Chief executives have to worry about the direction of their stock amid the coronavirus, but cannabis users have worries of their own.
Here's what cannabis users should be doing to stay healthy while we fight COVID-19.
Staying Healthy While Fighting Coronavirus: Cannabis Users Edition
As the year progresses, particularly in the next few months, the cannabis industry will want to watch two things. First, many will want to see if companies can produce great earnings reports despite the coronavirus. Second, it will be crucial to understand just how industry consumers fare through the outbreak.
The former will require strategic planning; the latter should involve companies reiterating the following to its clients:
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1. Don't Share Bongs or Joints
Sharing bongs and joints is a sure way to spread any virus, but we know that users still do it: the puff-and-pass custom has long been around. However, with the virulence of the coronavirus, cannabis users must be reminded to stick to their own supply.
2. Reconsider that Bedtime Blunt While COVID-19 Spreads
THC and CBD have been shown to have potential health benefits. That's a debate long put to bed. And it's why companies like Sundial Growers sell vapes that have sleep-inducing and anxiety- and pain-reducing properties.
But—and this is a big but—inhaling hot smoke when you're sick with colds or the flu is not good. For anyone. What makes you think that smoking cannabis when the coronavirus lingers in the dark is any different?
3. Don't Listen to Anyone Other Than Health Officials
People are quick to jump on things, in part due to the influence of social media. With that, we wouldn't be surprised to see claims about CBD and coronavirus on the Internet. Companies should remind clients that they shouldn't believe this, despite the hype around CBD.
Takeaways
Companies wouldn't be anywhere without their consumers. And so, as CEOs and CFOs prepare for worse earnings seasons because of the coronavirus, they should also prepare those that buy their products so they can stay healthy at this eerie time.
Featured image: PixaBay
