Constellation Brands slips after a $484 million loss in cannabis company Canopy Growth hits earnings (STZ)
Blair Gable/Reuters
- Constellation Brands, the company behind Corona and Modelo beer, posted second quarter earnings that largely beat expectations but revealed a $484 million loss on an investment in Canopy Growth, a cannabis company.
- Shares fell as much as 8% on the news.
- Investors have been watching the relationship between the companies since June, when Constellation CEO Bill Newlands publicly expressed disappointment in Canopy's earnings, leading to the ousting of former CEO Bruce Linton. Читать дальше...