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Reopening and Prepping the Cannabis Industry

The time of prophets is long past; however, crises similar to COVID-19 are likely to crop up in the future. Luckily, many governments declared cannabis an essential industry, and the business was naturally adapted to social distancing, but what are the strengths that make the cannabis industry so resilient in times of panic? What would be a successful reopening, and how can we plan for events like this in the future?

Massachusetts pot shops reopen to long lines, high demand after coronavirus closures

It was high anxiety on display in Boston Monday as the city’s only pot shop had a line wrapped around the building.

Dorchester’s Pure Oasis was the place to go for weed — and the line showed the demand for legal cannabis during the coronavirus lockdown hasn’t fallen off.

“I didn’t understand the need for them to close because some people need (cannabis) to stay healthy. It’s medicine. I’m just glad they’re open again,” said Sebastian Patino of Dorchester. Medical marijuana was allowed during the stay-at-home advisory.

Cannabis stocks soar on hopes pot wards off coronavirus

Cannabis company stocks are skyrocketing as investors are high on new hopes that marijuana might help ward off the deadly coronavirus.

Shares in major pot firms climbed in late trading Thursday after The Post reported on a Canadian study showing that certain strains of cannabis may help prevent COVID-19 from entering host cells.

Why The Senate, And Not The Presidency, Is The Race To Watch This Election Year For Major Cannabis Legislation

As the country slowly opens up and returns to a semblance of normalcy, many Americans may struggle to remember that this year is also an election year—and unsurprisingly a pivotal one at that. Beyond the important matters of protecting the lives of our citizens and rebuilding the economy, the future of the cannabis industry will also be determined in this year’s election, although not in the branch of government that many might expect. 

Virginia governor signs bill decriminalizing marijuana

Virginia Governor Ralph Northam has signed legislation on decriminalising marijuana possession in the state.

The new law goes into effect 1 July.

Governor Northam, a Democrat, signed two identical bills, Senate Bill 2 and House Bill 972, creating a civil penalty of no more than $25 for possession of up to an ounce of marijuana, with no jail time.

Michigan marijuana industry changed, but thriving amid coronavirus pandemic

You can’t currently walk into a Michigan marijuana shop and peruse the shelves, but that hasn’t stopped product from flying off them.

Close to $1 million a day in marijuana flower, vaping oil and edibles is still being sold, despite coronavirus restrictions that limit sales to curbside pickup and delivery.

With approximately $27 million in April sales, the recreational marijuana industry continues its ascent as governments fill their coffers with new tax revenue, despite the coronavirus pandemic and a forced about-face within the industry.

Medical marijuana expansion sailing through Louisiana Legislature

A bill that would allow any condition to be treated with medical marijuana and any doctor in good standing to recommend it continued to build momentum in the Louisiana Legislature Wednesday with little resistance.

Members of the Senate Health and Welfare Committee approved House Bill 819 by Rep. Larry Bagley, R-Stonewall, to expand treatable conditions.

The bill has already secured full approval in the House and now heads to the full Senate for debate.

Canada’s Aurora Cannabis surges after making a CBD deal to enter the lucrative U.S. market

Aurora Cannabis has agreed to buy U.S.-based CBD company Reliva, giving the struggling Canadian company a business foothold in America.

Shares of Aurora closed off nearly 13% ahead of the Wednesday afternoon announcement. The stock surged higher in after-hours trading.

However, over the past 12 months, Aurora has lost nearly 90% of its stock market value as of Wednesday’s close.