CEO of PAX Labs Says Cannabis Culture Could Be in For a Makeover

Cheech and Chong might need to lose the bong.
Publish date:

After comments from both New York Governor Andrew Cuomo and AG nominee Bill Barr eased the minds of cannabis investors, its time to be forward thinking.

The momentum is certainly strong in the space already, with the midterms in 2018 only accelerating the pace of pot stateside and the recent comments from top lawmakers leading investors strongly into the cannabis space in the new year.

"Legalization has spread across many, many states," Bharat Vasan, CEO of cannabis company PAX Labs told TheStreet. "I think Bill Barr coming out and saying he favors Congress legislating, making the laws clearer so people can make more educated choices about what cannabis means for them in their state, as opposed to the shadow black market type of thing in many states. I think is a huge development."

It could even serve to change the overall cannabis culture that has existed for years, as the industry looks to face the broader public and teams up with some of the biggest players in pharmaceuticals and consumer packaged goods, as Tilray (TLRY) - Get Report and Canopy Growth Corporation (CGC) - Get Report have already shown.

"As far as how people are delivering [cannabis], it's obviously shifted from the old times of people seeing the big bong and the glass thing," Vasan commented.

Instead, he suggested the industry's nascent shift towards vaping and liquid delivery, without smoking, is the view of the future, especially in drugs.

Considering his company developed the massively popular JUUL, a spinoff of PAX that recently caught the eye of cannabis investor in its own right Altria (MO) - Get Report , his forecast is certainly worth noting.

To see the full interview for Vasan's outlook on how the space is transforming, check out the video above.

Employees of TheStreet are restricted from trading individual securities.