Hexo Corp. said Tuesday it will delay the release of its upcoming quarterly results due to “certain exceptional circumstances” and expects to report a “significant” impairment that could be as much as $280 million in the quarter.

The Gatineau, Que.-based cannabis producer didn’t specify the cause of the impairment which led Hexo to delay its fiscal second-quarter results, but noted it plans to release amended filings for its two prior quarterly reports later on Tuesday.

“The calculation of this impairment is complex and, while a value range for the impairment is known, the final amount remains to be determined,” Hexo said in a statement.

It expects the range of its impairment charge to be between $265 million to $280 million.

As the Covid 19 quarantine measure continue, President Trump tweeted, “We will be, by mutual consent, temporarily closing our northern border with Canada.” He said trade would not be affected. However, many cannabis companies have operations in both countries.

The U.S. Postal Service is having a little trouble with the mail.

An audit of the federal agency, which specifically looked at how it handles cannabis-infused shipments, revealed that more than 200 packages believed to contain the drug went missing during internal shipments in 2019, Marijuana Moment reports.

According to the audit, 188 of the 15,941 confiscated packages went missing after discovery by an inspector; it attributes the problem, in part, to pot’s pungent smell and inspectors not using suggested mailing methods that would obscure the odour and prevent “the risk of theft by postal employees processing this mail.”

The coronavirus has had a big impact on the world’s economy, and even more so on the financial cannabis market. While the S&P Index has seen a 17% drop, various marijuana companies have experienced a drop of 30% and more. Of course, this raises the question of whether it’s a good time to buy cannabis stocks right now, and if there’s any chance of finding a bargain.

Amid the coronavirus outbreak, Canada Post is no longer delivering packages that require a signature or proof of age to customers’ doors. For the majority of Canada’s cannabis consumers, that means they will need to pick up their packages at a nearby post office.

Recreational consumers living in Saskatchewan, Manitoba, and select regions of Ontario, can still get service to their door, even on the same day.

The stock market is struggling amid coronavirus mayhem, and many pot stocks, including those for some Canadian companies, are struggling right along with it.

The BI Global Cannabis Competitive Peers Index has sunk 43 percent, bringing its overall 12-month deterioration to roughly 81 percent. Some cash-strapped companies are unlikely to survive the crisis.

“We believe focus among cannabis investors has shifted to minimizing downside; in other words, evaluating cannabis stocks from a liquidation perspective, simply comparing market capitalization to net cash balances,” John Zamparo, an equity research analyst at CIBC Capital Markets, reported in a note last week.

British Columbia’s Liquor Distribution Branch (LDB) is taking steps to ensure that if residents are socially distancing themselves for the duration of the coronavirus epidemic, they won’t have to do it without weed.

The provincial wholesaler is working within the industry to mitigate any possible supply issues as cannabis enthusiasts worldwide start stockpiling the drug.

Batten down the hatches, because volatility has returned in a big way for the stock market. Over a 12-session stretch, ending this past Tuesday, March 10, the 123-year-old Dow Jones Industrial Average logged its three biggest single-day point gains in history, as well as six of its 11 largest single-day point drops of all time.

If you're a short-term trader, these moves have been nauseating. But if you're a buy-and-hold investor, this volatility has been an opportune time to buy great businesses on the cheap.