More teens are regularly using marijuana by vaping
Meanwhile, the use of regular cigarettes continues to decline among teenagers
More teens are regularly using marijuana by vaping rather than smoking in the US, according to a recent study.
Fourteen per cent of high school seniors said they vaped marijuana in the previous month, according to the National Institutes of Health’s annual Monitoring the Future survey.
That is nearly double the rate from 2018, the second-largest annual increase recorded in the survey’s 45-year history.
The survey also found that 22 per cent of high school seniors say they use marijuana, which can be smoked, vaped or eaten.
Meanwhile, the use of regular cigarettes continues to decline among teenagers, especially among school seniors who had a significant decline in past month use, now at 5.7 per cent, down from 7.6 per cent last year and 13.6 per cent five years ago.
In 2019, 2.4 per cent of school seniors said they smoked cigarettes daily, declining from 3.6 per cent in 2018. However, 11.7 per cent said they vaped nicotine daily in 2019, the first year daily vaping use has been measured.
Seeking to lift US listing constraints, the marijuana industry has spent $3.8m on federal lobbying in the nine months to September, according to the Center for Responsive Politics. That is up from $2.8m in the whole of 2018.
In the US cannabis equity valuations are down 40 to 50 per cent from their 2019 highs. A handful of US-listed exchange traded funds track this segment, the biggest being the ETFMG Alternative Harvest fund. It is down 34 per cent over the past 12 months and down 41 per cent over the past 26 weeks.
Although cannabis stocks are popular among millennials they are difficult to trade as cannabis is illegal under US federal law and so many conventional Wall Street brokers restrict retail investors from buying cannabis stocks.
Bank of America, which initiated cannabis industry coverage in April, estimates global cannabis sales will total $166bn this year, with the legal markets, mostly in North America, accounting for $15bn.
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