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Vba To Change Font Color In Cells Based On Value

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I'm using some basic code below in an on Workbook Open event to format cells with a value less then 2 and less than 1 with a particular color.

The code works, but it really slows my worksheet down when opening. Is there better way to write this? Thanks!

Code:

 
Dim myRange As Range
Dim cell As Range
Set myRange = Range("V6:V50000")
    For Each cell In myRange
    If cell.Value < 2 Then cell.Font.ColorIndex = 5
    If cell.Value < 1 Then cell.Font.ColorIndex = 3
    Next




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