Vaping-Related Deaths Hurting Cannabis Stocks
NEWS ANALYSIS
The vaping crisis is punishing investors in cannabis companies. In recent weeks, the sector has been battered by worries over the risks of vaping. There have been more than 1,000 confirmed and probable cases of vaping-related lung illness in the U.S., according to the latest CDC numbers, and 19 reported deaths.
That has hurt cannabis companies as customers have shifted to products such as pre-rolled joints, which aren’t as profitable to sell as vape pens and oils, according to the Compass Point Research & Trading LLC.
A teenager from The Bronx became the first New Yorker to die from vaping last week, state officials said Tuesday. The 17-year-old boy treated at Montefiore Hospital is among nearly two dozen people across the nation whose deaths have been linked to the use of electronic cigarettes, officials said.
The teen’s death was reported Tuesday to the state Department of Health, which is investigating the case, officials said. The boy may be the 20th person in the United States to die from a vaping-related illness amid an outbreak of lung ailments linked to the habit.
The health department is exploring whether the teen used a nicotine e-cigarette or a black-market marijuana vape device like the ones that have been linked to dozens of lung illnesses across New York, agency spokesperson Jill Montag said.
78% Say Vaping Serious Public Health Problem; 61% Support Order to Ban Flavored E-Cigs; 12% Vape
Meanwhile, seventy-eight percent of New Yorkers think E-cigarette use and vaping is a somewhat (28 percent) or very (50 percent) serious public health problem according to a new Siena College Poll.
Sixty-one percent support the emergency executive order banning the sale of flavored e-cigarettes in New York, 52 percent support banning all e-cigarettes and vaping devices from sale, and 74 percent support raising the age in New York to purchase nicotine products including vaping and e-cigarette products to 21 in all counties. Currently 12 percent of New Yorkers vape on a regular basis.
Seventy three percent say we are facing a vaping epidemic among young people. Seventy-eight percent have seen someone vaping in outdoor public spaces while 61 percent have witnessed vaping in an indoor public space.
Almost a quarter report being offered an e-cig and almost as many have been offered a vaping device used to inhale THC. By 60-27 percent, New Yorkers say e-cigarettes may promote nicotine addiction and can be harmful rather than help lessen cigarette smoking.
The U.S. Centers for Disease Control and Prevention had confirmed 18 vaping deaths in 15 states as of Oct. 1, and another was reported in Massachusetts on Monday.
Some 110 people across the Empire State — including 21 in New York City — have come down with serious lung illnesses after using at least one vape product, according to the state health department. Officials have attributed most of those cases to black-market cannabis vape devices rather than nicotine-based e-cigarettes sold in stores.
The spate of sicknesses nonetheless spurred state authorities to ban flavored e-cigarettes, but a pending lawsuit blocked the measure from taking effect last week.
Cuomo called for action from President Donald Trump’s administration to combat the health risks of vaping. Trump’s Food and Drug Administration announced plans in September to clear flavored vaping products from the market, but the nationwide ban is not yet in place.