Is marijuana ‘recession-proof’? Industry experts say yes – to a point – and alcohol might be a guide

Marijuana Business DailyMarch 24, 2020, By John Schroyer and Bart Schaneman

The legal cannabis industry appears poised to enter uncharted waters: an economy engulfed by a full-fledged recession. The coronavirus is inflicting severe damage to the world economy, raising the specter of a major economic contraction, and some economy watchers – including Bank of America – have already asserted the U.S. is in a recession.

How would legal cannabis companies hold up in a severe downturn? Fairly well, said several industry experts. And alcohol sales might be a good barometer. …

If indeed the alcohol industry is any guide, the cannabis industry is likely to hold up relatively better than other mainstream industries such as airlines, restaurants, entertainment, leisure and other sectors that so far have borne the brunt of the economic fallout inflicted by COVID-19. …

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