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☆ Daily marijuana use surpasses alcohol consumption, new study finds. Here's what it means for the industry
▼ + stars: | 2024-05-23 | by ( Brandon Gomez | ) www.cnbc.com time to read: +3 min

Although alcohol overall remains more widely used, 2022 was the first-time daily marijuana use overtook drinking at the same frequency, with roughly 17.7 million cannabis users and 14.7 million drinkers, respectively. That is a 15-fold increase for cannabis since 1992 when only 900,000 Americans disclosed using the drug daily compared with 8.9 million daily drinkers. The spirits and alcohol industry, however, has been working to defend its market share despite shifting trends among younger consumers. However, some analysts on Wall Street expect greater impact to the alcohol industry from cannabis adoption. "We estimate that legal cannabis could be negatively impacting beer volume [compound annual growth rate] by up to 230 bps in Canada and 75 bps in the U.S. where legal," said Bernstein analyst Nadine Sarwat.

Persons: Roth, Scott Fortune, Bill Kirk, Kirk, Fortune, Bernstein, Nadine Sarwat, Sarwat Organizations: The U.S . Drug Enforcement Administration, Carnegie Mellon University, Administration, Wall, distillers, Constellation Brands, Diageo, AB InBev, Molson Coors Locations: San Anselmo , California, The U.S, U.S, Canada

☆ Here are Roth MKM's top buy ideas for the fourth quarter
▼ + stars: | 2023-09-27 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Roth MKM is offering up its top picks for the fourth quarter as the final three-month stretch of 2023 approaches. Quarter to date, the Nasdaq Composite is off by more than 5%, lagging the S & P 500 and the Dow Jones Industrial Average . As 2023 nears an end, here are some of Roth MKM's top picks for the fourth quarter: Shopify is one of the names the investment firm is betting on for the period. Roth MKM is also betting on Uber Technologies in the fourth quarter, which should benefit over time from improving advertising and subscriptions that should improve profitability, according to analyst Rohit Kulkarni. According to the firm, Verano shares look significantly undervalued and should get a lift from easing federal regulations and new U.S. adult-use states.

Persons: Roth, Darren Aftahi, Roth MKM, Rohit Kulkarni, Scott Fortune, Molson Coors, — CNBC's Michael Bloom Organizations: Federal Reserve, Nasdaq, Dow Jones, Amazon Prime, Uber Technologies, Verano Holdings, Coors, Molson Locations: FCF

☆ U.S. health officials want to loosen marijuana restrictions. Here's what it means
▼ + stars: | 2023-08-31 | by ( Stefan Sykes | ) www.cnbc.com time to read: +4 min

Jeenah Moon | Bloomberg | Getty ImagesThis week, the Department of Health and Human Services asked the Drug Enforcement Agency to consider easing restrictions on marijuana upon a review of its classification under the Controlled Substances Act. It could be a significant catalyst for an industry hemmed in by federal regulations even as legalization picks up on the state level. Marijuana is legal in 39 states medically and 23 states recreationally. If marijuana moves down to a Schedule III substance, this will effectively ease a number of restrictions holding the sector back. While many states have legal markets within their borders, transporting Schedule I substances across state lines in illegal, resulting in a glut of marijuana in some states.

Persons: What's, Roth, Scott Fortune, Fortune, Jeff Schultz, Foley Hoag Organizations: ACB, Housing, Cannabis Co, Bloomberg, Getty, Department of Health, Human Services, Drug Enforcement Agency, Aurora, Tilray Brands, DEA, Marijuana, HHS, Regulators, Internal Revenue Locations: New York

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