$245 Million Poured Into Canopy Growth by Big Beer Maker: What It Means for Marijuana Stocks
Cannabis-infused beer?
That's exactly what Constellation Brands (NYSE: STZ) has in mind. The S&P 500 member, known for its Corona beer and other alcohol brands, announced that it's investing $245 million (in Canadian dollars) to buy a 9.9% stake in Canopy Growth Corporation (NASDAQOTH: TWMJF). Canopy Growth is a leading medical marijuana provider in Canada.
There are several huge ramifications of this deal. Here are three of the most significant ways it affects Canopy Growth -- and could affect other marijuana stocks as well.
Source: Fool.com
Altria Group Inc. Stock
€46.47
1.030%
With 6 Buy predictions and only 1 Sell predictions the community sentiment for the stock is positive.
However, we have a potential of -1.0% for Altria Group Inc. as the target price of 46 € is below the current price of 46.47 €.
