Jim Cramer Says Young People Prefer Getting Buzzed On Cannabis, Avoid Alcohol Weight Gain

Mad Money host Jim Cramer recently said on CNBC's "Squawk On The Street," that “cannabis is what’s killing alcohol.”

“What would happen if Jack Daniels would taste like water?” Cramer said. “Would you buy Jack Daniels knowing you could get a buzz or hammered? Knowing you won’t get fat from water? Well, the answer is...cannabis. Cannabis is what’s killing alcohol.”

Cramer’s comments come on the heels of a new report by TD Cowen analyst Viven Azer who revealed a shift in consumer behavior, highlighting the clash between legal marijuana and alcohol sales.

"Alcohol sales in legal cannabis states underperformed by 100-150 bps over the past five years," revealed Azer, the first senior Wall Street analyst to cover this emerging industry in 2014. She also projected that the cannabis sector will attract 18 million new users while potentially witnessing a decline of two million alcohol users.

“This dry January is going to turn into dry February,” Cramer continued. 

“I just think that younger people wherever marijuana is free, is allowed, what happens is, that usually people say ‘I’m gonna get my buzz from something that is not fattening.’”

“It’s like Diet Coke versus Coke,” he concluded.

Is cannabis killing the alcohol industry? @JimCramer, @DavidFaber & @CarlQuintanilla discuss what's of "high" interest for consumers and how it could be a buzzkill for hard beverages. pic.twitter.com/mRrWk2Vsd9

— Squawk on the Street (@SquawkStreet) December 19, 2023

Related links: 

Jim Cramer Is Bullish On Cannabis Stocks Ahead Of Midterm Elections: 'I Say Buy Tilray' 

Photo: Benzinga edit with images by Tulane Public Relations via Wikimedia Commons and CHUTTERSNAP on Unsplash and Nicole Pineda from Pixabay