Barron’s: “Legal Marijuana Could Hurt Alcohol Stocks”

Excerpt from Barron's quoting DataTrek co-founder Jessica Rabe:

.... "What’s new. DataTrek’s Jessica Rabe took a look at the latest data from communications and public relations firm Quinn Thomas’ marijuana survey, writing that the research shows that marijuana users aren’t the stoner tropes long depicted in popular culture, but rather tend to mirror typical middle-class people. That could mean that the market is bigger than just a small segment of the population.

In addition, she notes that more than a third of marijuana users drank less alcohol post-legalization—a “significant statistic” that encompasses regular, occasional, and infrequent users.

Looking Ahead. Rabe sees three main takeaways from the study. First, legalization has led to increased marijuana use (even if the study doesn’t account for the ongoing black market). That’s good news for pot companies, although less so for beer, wine, and spirit makers"....

Read the full article here on Barron's!