2 Pot Stocks Set To Survive the Coronavirus Pandemic
Cash is a critical factor in the cannabis industry, now more than ever before. The coronavirus pandemic is already testing the limits of many pot companies, in some cases pushing them over the brink and into bankruptcy. And more marijuana companies will be in danger the longer the crisis lasts.
Cannabis investors need to be very picky because even companies that are in good shape today may not be six months from now. However, there are two stocks that are in a good position to weather a prolonged economic downturn due to coronavirus. These two companies are among the most likely to survive the pandemic, even if it lasts for several months or longer.
Canopy Growth (NYSE: CGC) is the figurehead of the cannabis industry, and the big-name pot stock looks to be in the best shape. But the company hasn't been immune to adversity. On March 4, it announced it was laying off 500 employees and closing two greenhouses while scrapping plans for a third one.
Source Fool.com
