The Week In Cannabis: New Mexico, Switzerland, Federal Legalization, Aphria, Organigram And More

The Week In Cannabis: New Mexico, Switzerland, Federal Legalization, Aphria, Organigram And More

Oops!Something went wrong.Please try again later.Oops!Something went wrong.Please try again later.Javier HasseApril 16, 2021, 2:21 PM·8 min readOops!Something went wrong.Please try again later.Oops!Something went wrong.Please try again later.In spite of some good news on the legalization front, cannabis stocks traded down this week, largely driven by lackluster earnings reports out of big Canadian companies.On Monday, New Mexico became the latest state to legalize adult-use cannabis, after Gov. Michelle Lujan Grisham signed the Cannabis Regulation Act. Sales are expected to begin before April 2022.Following a legalization wave led by New York and Virginia, this approval puts more than 43% of Americans living in legal cannabis jurisdictions, according to The Marijuana Policy Project.Switzerland will officially launch a trial version of a legal recreational cannabis market on May 15. The Swiss Federal Office of Public Health noted that the trial aims to offer “a scientific basis for the future regulation of cannabis.”This will make Switzerland the first country in Europe to allow a legal adult-use cannabis supply chain. The trial will include 5,000 registered participants, who have proven to the Federal Government they already have been consuming cannabis.Senate Majority Leader Chuck Schumer (D-NY) plans to present a federal cannabis legalization bill soon.“I am