(SpeedHunters.com)
Tuesday, July 17, 2018
This Could Be A Great Partnership
Constellation Brands, the producer of Corona is making a $4B bet on marijuana, investing in Canopy Growth, a Canadian cannabis manufacturer.
The investment gives Constellation a38% stake in Canopy. The brand and many others speculate that the booming Canadian industry will be lucrative in the States once companies like Constellation are guessing will be legalized nationwide in the US before long.
Canopy stocks rose 30% during Wednesday trading on the news. Constellation dropped 6.1%, but if things pan out, Constellation has the opportunity to buy 139.7M more shares over the next three years, or the equivalent in another $5B in funding.
(BroBible.com)
The investment gives Constellation a38% stake in Canopy. The brand and many others speculate that the booming Canadian industry will be lucrative in the States once companies like Constellation are guessing will be legalized nationwide in the US before long.
Canopy stocks rose 30% during Wednesday trading on the news. Constellation dropped 6.1%, but if things pan out, Constellation has the opportunity to buy 139.7M more shares over the next three years, or the equivalent in another $5B in funding.
(BroBible.com)
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