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Constellation Brands slips after a $484 million loss in cannabis company Canopy Growth hits earnings
Constellation reported that it lost $484.4 million during the quarter on an investment the company made in Canopy Growth, a Canadian cannabis company.
The CEO of Constellation Brands throws cold water on the idea that former Canopy Growth chief Bruce Linton was fired for financial reasons
"Our board was uniform," Bill Newlands, CEO of Constellation Brands said. "We needed a different leader to take us to the next phase of growth."
Constellation Brands is promoting its new canned wine during NFL games and considering selling its other wine brands in cans.
The maker of Modelo and Corona beer surges after beating earnings forecasts and boosting its yearly outlook
Modelo, Constellation Brands' most popular beverage, was a major contributor to quarterly gains, and is rapidly adding market share.
CEO of the beverage giant behind Corona: Cannabis is one of the ‘most significant’ growth opportunities of the next decade
Constellation Brands' CEO Rob Sands is extremely bullish about the burgeoning cannabis industry. "The whole market is going to be explosive," Sands said on a call with investors.
Canopy Growth shares have climbed more than 285% since November, when Constellation first announced an investment into the company.
The fresh high comes after Constellation Brands, the company behind Corona beer and Svedka vodka, said it would up its stake in the Canadian cannabis company by $4 billion.
The world’s biggest marijuana stock is surging after a $4 billion investment from the maker of Corona
For the first quarter of 2019 (ended June 30,2018), Canopy posted a per share lost of $0.40, far outpacing the expected expected $0.11 loss. Revenues also fell short of the expected $26.33 million, at $25.9 million.
The CEO of the world’s largest publicly-traded cannabis company explains why he partnered with the $41 billion brand behind Corona
"We will definitely be making beverages, but since there is no alcohol there will be no calories, which means the pounding on your liver is effectively nil." he said. "And did I mention the no-calories part?"
The beer giant behind Corona paid $191 million for a stake in the world’s largest legal marijuana producer
The beer-industry giant Constellation Brands is betting big on legalized weed.