As pot stocks jump around, FDA chief worries about teens using pot

Marijuana legalization will be producing pot look safe to use in addition to easier to get. which worries Food in addition to Drug Administration Commissioner Scott Gottlieb, especially as the idea relates to teenagers.

“I’m worried about the inhalation of a product in addition to the risks associated with which. I’m worried about the perception which somehow there’s no risks associated with youth use of the product,” Gottlieb said in an interview with CNBC on Thursday.

Previous studies have looked at the risks of occasional marijuana use, yet regular use will be increasingly common as the idea’s legalized, he said. “I think which’s going to create a different set of risks,” he said.

The rising popularity of weed among adults appears to be filtering down to younger generations. Nearly one-quarter of teens are currently using pot in addition to fewer students disapprove of the drug, according to the annual “Monitoring the Future” survey conducted by the University of Michigan. The number of high school students seeing “great risk” in marijuana use dropped to 14.1 percent last year via 17.1 percent in 2016, according to the report.

“I think we all need to be deeply concerned about which from the same way we’re deeply concerned about youth access to e-cigarettes in addition to nicotine,” Gottlieb said. “We should be even more concerned about youth access to marijuana in addition to cannabis.”

Gottlieb’s comments come after a wild three days of trading for shares of Canadian pot grower Tilray. The stock shot up more than 56 percent on Tuesday in addition to Wednesday before dropping about 20 percent on Thursday. Tilray shares have surged nearly 400 percent over the past month.

in addition to Tilray isn’t the only common pot stock. Shares of Cronos are up about 80 percent from the past month, while shares of Aurora Cannabis have risen 55 percent in which time period. The ETFMG Alternative Harvest exchange-traded fund — which tracks the performance of marijuana shares — has shot up 46.2 percent from the past 30 days.

Tilray’s rise pushed the company’s market cap to around $16 billion, up sharply via $2.1 billion after its IPO. Aurora’s market cap, meanwhile has jumped to about C$11.2 billion via just under C$5 billion earlier This specific month. Cronos’ market value will be above C$3.1 billion, up via about C$2.5 billion earlier in September.

Gottlieb called teen e-cigarette use an “epidemic” last week in addition to threatened to pull e-cigarettes via shelves if manufacturers do not control teen use. The agency will be specifically ordering several brands — Juul, British American Tobacco’s Vuse, Altria’s MarkTen, Imperial Brands’ Blu E-cigs in addition to Japan Tobacco’s Logic — to submit plans within 60 days detailing how they will prevent teens via using their products.

Additionally, the agency will be investigating whether manufacturers’ online shops are being used for “straw” purchases, where buyers resell products to minors. If the FDA identifies problems, the idea can take both civil in addition to criminal actions. the idea also warned more than 1,300 retailers for illegally selling e-cigarettes to minors.

The 2017 Michigan report indicates which teen marijuana use could continue to grow as more states legalize the drug, according to the study’s authors.

Funded by the National Institute on Drug Abuse in addition to National Institutes of Health, the study provides the most comprehensive look at drug use among young adults from the U.S.

-CNBC’s Fred Imbert contributed to This specific report

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