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As 2019 drew to a close, no one expected the virus that had been discovered in Wuhan, China in November to bring the world to a complete standstill. Three months into the year, however, the resultant pandemic had caused massive damage to the economy, with industries like food service and airlines shouldering millions of job losses. Although cannabis products enjoyed a spike in sales in the week or two leading up to lockdown orders, the COVID-19 pandemic has since dampened CBD sales.
The nascent industry had previously seen extremely encouraging projections, with last year’s BDSA and Arcview Market Research industry report stating that CBD sales in the USA would surpass $20 million by 2024. However, according to a new report from Brightfield Group titled ‘US CBD Market July 2020’ CBD sales will be much lower than projected&
CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.
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