Mar 25, 2020 (Stock Market Press via COMTEX) -- The good news is that nationwide online sales of CBD jumped 230% prior to the coronavirus quarantines and in California orders hit a record peak last Thursday (March 19, 2020) after Gov. Gavin Newsom issued his shelter-in-place order for the state, the Wall Street Journal reported, based on data from website Weedmaps. The bad news is that it now appears CBD and cannabis-related companies may not be eligible for federal Small Business Administration (SBA) relief loans.
The global impact of the coronavirus has intensified coverage of companies that market CBD and other health-related products. Media firms such as stockmarketpress.com feature coverage of CBD and health-related stocks such as CBD Unlimited, Inc. (OTC PINK: EDXC), Johnson & Johnson (NASDAQ: JNJ), Procter & Gamble /zigman2/quotes/202894679/composite PG +1.91% , Canopy Growth Corp. (NYSE: CGC), New Age Beverages Corp. (NASDAQ: NBEV), GW Pharmaceuticals PLC (NASDAQ: GWPH), Neptune Wellness Solutions Inc. (NASDAQ: NEPT) (TSX: NEPT). Aurora Cannabis Inc. (NYSE:ACB) and OrganiGram Holdings Inc. (NASDAQ: OGI).
CBD Online Sales Jump 230% Before Coronavirus Quarantine; CBD Companies May Be Ineligible For Federal Relief Loans
The conclusion of the record online sales and spike in California sales the day that state issued a mandatory stay-at-home order is that CBD and cannabis customers stocked up on product prior to being shut-ins at home during the coronavirus crisis. In addition to runs on hand sanitizer and toilet paper, top-priority CBD and cannabis remained available at legal and licensed retailers, the state said. The goal is to offer medical CBD prescriptions for patients. CBD national online sales jump 230% before coronavirus quarantine; CBD companies may be ineligible for federal relief loans.
Several websites said that CBD and cannabis-related companies -- growers, dispensers, retailers -- will not be eligible for SBA business relief loans from the impact of the coronavirus. According to one local article, an SBA spokesperson said even if a business is legal under local or state law it would not be eligible for the federal relief loans because the product is not permitted under federal law. CBD national online sales jump 230% before coronavirus quarantine; CBD companies may be ineligible for federal relief loans.
CBD Unlimited, Inc.'s (OTC PINK: EDXC) Sees Growth In CBD Future
As it continues to excel in this environment, CBD Unlimited, Inc. (OTC PINK: EDXC) is strengthening its Board, acquiring industry-related companies and planning to achieve growth. Whether consumers want to buy CBD Unlimited, Inc.'s (OTC PINK: EDXC) product online from remote home locations or in pharmacies and mass market retail locations that remain open, it remains widely available. This is a key strategy when consumers have limited ability to leave their homes and shop for product. CBD sales may actually be increasing during the coronavirus pandemic as consumers stock up. The company's products are available at large national mass market and pharmacy chains such as Walgreen's or online on its own site.
CBD Sales May Be Increasing During The Coronavirus Pandemic As Consumers Stock Up
CBD Unlimited, Inc.'s (OTC PINK: EDXC) high quality product, a healthy alternative for home-bound consumers, is important for consumers who see health as especially significant today. Just as they seek personal purification from hand sanitizer to prevent coronavirus, they want quality in all foods they ingest. CBD is also seen globally as a product which needs to be top quality and healthy for the body.
Consumers are buying and sometimes hoarding essentials and top quality products. If they see CBD as a calming agent, they look for brand and companies that offer consistency and pure products. Firms such as CBD Unlimited, Inc. (OTC PINK: EDXC) continue the mission to expand product lines, enter into new classifications and acquire innovative and entrepreneurial companies.
CBD Is Not A Cure For Coronavirus, But Its Properties Address Key Elements
CBD is not a cure for coronavirus although its properties address key elements. It is known to offer anti-viral, anti-inflammatory and anti-bacterial properties. It also acts as an effective treatment for nausea and vomiting, which can be induced by the coronavirus in humans.The calming benefits of CBD is receiving more media coverage than in the past because it can play a role in reducing anxiety of house-ridden consumers, worried about catching the coronavirus.
The coronavirus has seen sales peak for hand sanitizer and health related products from several manufacturers. These include Gojo Industries, Inc., which is privately held and makes Purell; Procter & Gamble /zigman2/quotes/202894679/composite PG +1.91% ; 3M /zigman2/quotes/205029460/composite MMM -0.84% ; Ecolab /zigman2/quotes/202628210/composite ECL +1.96% , Unilever Group (NYSE: UN) and Johnson & Johnson /zigman2/quotes/201724570/composite JNJ +1.44% .
CBD Unlimited, Inc. (OTC PINK: EDXC) Strengthens As It Adds To Board; Acquires Kush, Inc.
In all of this, CBD Unlimited, Inc. (OTC PINK: EDXC) is continuing to be aggressive and grow. It recently named to its Board both Peter Governale, a veteran of the wine and spirits industry, and Dr. Daniel S. Brandwein, D.P.M., F.A.C.F.A.S., who is a Florida board certified foot and ankle surgeon. Both are proponents of the benefits of CBD for health and wellness.
CBD Unlimited, Inc., (OTC PINK: EDXC) earlier acquired New York-based marketing and branding company Kush, Inc. Kush builds brands through strategic marketing. It will operate Kush as a new wholly-owned subsidiary. Also, Charlie Mohr, president and founder of Kush, will join CBD Unlimited full time.
This is an important time for CBD Unlimited, Inc. (otc pink:EDXC) to expand its product lines. The company made the acquisition saying it has seen a global interest in transitioning to natural products. Kush, Inc., owns kushwear.net and supports labels known for manufacturing, selling and distributing hemp-derived material and other bio-products that are sustainable.
CBD Unlimited, Inc. (otc pink:EDXC) Reports 101% Annual Increase