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Marijuana Legalization in Nebraska Has a New Strategy


May. 4 2020, Published 12:15 p.m. ET

Marijuana legalization efforts in many US states were disrupted after COVID-19 hit. Self-quarantine and social distancing efforts made it impossible for campaign activists to gather signatures. As a result, many states had to drop their legalization campaigns. However, Nebraska might have come up with a new strategy to gather signatures and legalize marijuana this year. Let’s take a look.

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Marijuana campaign in Nebraska adopts new strategy

The campaigns have struggled to gather signatures amid the coronavirus pandemic. However, there’s still some hope in Nebraska. Nebraskans for Medical Marijuana is the group behind the medical marijuana legalization initiative. The group told Marijuana Moment that it temporarily halted its legalization initiatives. After the lockdowns are lifted in the state, the group will resume its efforts to collect the signatures. However, the group will put social distancing measures in place. The new strategy involves using masks, tables, disposable pens, and hand sanitizer to carefully collect signatures.

In a social media post, the group said, “We remain confident that, working together, we will be successful in qualifying the medical marijuana initiative for the ballot if a modified form of traditional signature gathering can safely resume within the next two to three weeks.”

The campaign needs to collect 130,000 valid signatures from registered voters by July 8 to qualify for the November 2020 ballot. We don’t know how many signatures the group has already collected. If the initiative gets on the ballot and passes as a law, patients suffering from debilitating medical conditions will be able to use cannabis. Also, patients will be able to possess, purchase, and “discreetly” cultivate marijuana for personal use.

Cannabis sales and stocks performance

We don’t know how the lockdown rules will be relaxed in each state or if Nebraska will be successful in its strategy. However,  activists seem optimistic since they have time to collect the signatures before the deadline. North Dakota, New York, and Idaho suspended their campaigns amid the COVID-19 pandemic. New York lawmakers are still attempting to make a decision using Zoom.

Meanwhile, cannabis stocks are still on a joy ride due to rising marijuana sales. US cannabis companies have performed well in the recent quarter compared to their Canadian peers. Cresco Labs’ (OTCMKTS:CRLBF) fourth-quarter earnings were a delight for the sector amid the pandemic. Cronos Group (NASDAQ:CRON), Aurora Cannabis (NYSE:ACB), and Canopy Growth (NYSE:CGC)(TSE:WEED) will release their results this month. We’ll know more about their strategies and plans for fiscal 2020.

Today at 11:30 AM ET, Cresco Labs has declined by 2.7%. Meanwhile, Aurora Cannabis, Canopy Growth, and Cronos have risen by 1.2%, 2.4%, and 0.18%, respectively.

To learn more about how marijuana stocks performed in April and what to expect in May, read Marijuana Investors: Forecast in May amid COVID-19.


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