From CNBC
The cannabis industry is growing, which may mean bad news for the beer industry, said Vivien Azer of Cowen, an investment firm.
"We view the interaction with alcohol as being the most obvious to us as we think of these products as substitute social lubricants," Azer, managing director and senior research analyst at Cowen, told CNBC.
"Binge drinking rates, for instance, are significantly lower in states where adults have access to adult-use cannabis," Azer, who specializes in the beverage, tobacco and cannabis sectors, told "Fast Money." Friday is "4/20," or the unofficial holiday celebrating marijuana use.
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The growth of cannabis culture could be bad news for beer: Analyst
