New York Lawmakers Want to Legalize Marijuana via Zoom

Marijuana legalization in New York seemed impossible this year. Recently, Governor Cuomo said the pandemic is the state’s main priority right now. He also said that a decision like marijuana legalization shouldn’t be made quickly. As a result, delaying marijuana legalization was a wise decision. However, lawmakers have been looking at other options. They want to discuss and make the legalization decision remotely through online discussions. Governor Cuomo said that the process would be too complicated.

New York lawmakers want to legalize marijuana

The marijuana legalization topic might not have ended completely in New York. A Marijuana Moment article discussed that Governor Cuomo thinks that lawmakers might look to pass the legislation remotely. Remote legalization could happen by using Zoom—an online video conferencing software company.

The COVID-19 pandemic has hurt the global economy. All of the industries have been suffering. Most businesses have either come to a standstill or face huge losses. The government has instructed everyone to stay at home and work from home. Zoom Video Communications’ meeting app and video conferencing are in demand for meetings across the globe.

However, Governor Cuomo thinks that marijuana is a complex topic to discuss remotely. As a result, he advised against remote voting.

At a press conference, he said, “As far as getting into a very complex issue that requires real analysis and real data and trying to do that on Zoom conferences, I don’t know that that’s the best way to do it, but that’s up to them also.”

We don’t know yet if remote discussions will be possible. Now, New York is looking at other options. The legalization measure was a hot topic year in New York and many other states. If there wasn’t a pandemic, more states would have been moving forward with their cannabis legalization plans. However, many states have had to opt-out. Some states like Arizona and South Dakota have successfully collected the required signatures for their marijuana campaigns. Meanwhile, Missouri dropped its campaign. Even Mexico’s legalization prospects looked really good this year. However, Mexico might not be able to legalize cannabis this year due to the pandemic. To know more, read Marijuana Legalization in Mexico Isn’t Likely in 2020.

Industry’s performance

Meanwhile, the marijuana industry is performing well in April due to a rise in cannabis demand and sales. Will the performance be enough to help the industry recover from the financial losses? Canopy Growth (NYSE:CGC)(TSE:WEED), Cronos Group (NASDAQ:CRON), and Aphria (NYSE:APHA) might be able to sustain the short-term challenges. Despite having a financial backup, Canopy Growth is closing its facilities. To learn more, read Canopy Growth to Exit Africa, Close Another Canadian Facility.

The rollercoaster ride continues in the cannabis industry. On April 20, Aphria closed with a loss of 4.44%, while OrganiGram closed 1.26% lower. Aurora Cannabis (NYSE:ACB), Cronos Group, and Canopy Growth stock closed with gains of 3.3%, 1.4%, and 0.46%, respectively.

Stay with us to learn more about the cannabis industry.