Cannabis Shoppers Line Up For Quarantine Supplies

Facing calls to stay inside and avoid large groups, cannabis consumers decided the way to best pass the time was to stock up on supplies. Dispensaries have been reporting large lines as shoppers increase purchases. Boston dispensaries were seen with lines snaking out the doors, while other states reported fewer shoppers, but larger purchases.

The Covid 19 virus has resulted in the cancellation of numerous cannabis conferences and even delayed some grand opening plans for new dispensaries. So far it seems April 20 celebrations haven’t been canceled yet and some of the bigger conferences planned for late May are still on schedule.

iAnthus (OTCQX:ITHUF) kept its soft opening of its first Northeast Be. retail store on Staten Island in New York last week. This is the company’s third store in New York. Beth Stavola, iAnthus Chief Strategy Officer noted that the soft opening was successful.

Ayr Expands Sick Leave

Multi-state operator, Ayr Strategies Inc. (CSE: AYR.A)(OTCQX: AYRSF) said it has joined with the United Food and Commercial Workers International Union in announcing measures to safeguard the health of its employees and customers. Under the measures, Ayr employees will benefit from an expanded sick leave policy that allows for additional paid time off and sick leave for those dealing with the impacts of the COVID-19 virus.

“Our highest priority is the well-being and safety of our employees, our customers and the community,” said Jon Sandelman, CEO of Ayr Strategies. “We’re expanding our sick leave policy to ensure that employees’ concern about COVID-19 does not keep them from protecting their health or the safety of those around them.”

“We’re committed to working with employers like Ayr Strategies to ensure the health and welfare of our members and their communities. We are pleased to see Ayr take a proactive step forward in protecting its employees,” said Fernando Lemus, Secretary-Treasurer and Acting President at UFCW.

CBD Does Not Prevent Covid 19

The FDA is cracking down on businesses claiming to prevent the spread of Covid 19. The agency sent out numerous warning letters to vitamin companies and essential oil sellers saying, “The FDA is taking urgent measures to protect consumers from certain products that, without approval or authorization by FDA, claim to mitigate, prevent, treat, diagnose, or cure COVID-19 in people. As described below, you sell products that are intended to mitigate, prevent, treat, diagnose or cure COVID-19 in people. We request that you take immediate action to cease the sale of such unapproved and unauthorized products for the mitigation, prevention, treatment, diagnosis, or cure of COVID-19.”

So far no letters have gone to CBD companies, but there have been reports that some CBD companies are trying to make the connection as these supplement companies have.

 

 

Debra Borchardt

Debra BorchardtDebra Borchardt

Debra Borchardt is the CEO, Co-Founder, and Editor-In-Chief of GMR. She has covered the cannabis industry for several years at Forbes, Seeking Alpha and TheStreet. Prior to becoming a financial journalist, Debra was a Vice President at Bear Stearns where she held a Series 7 and Registered Investment Advisor license. Debra has a Masters degree in Business Journalism from New York University.


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