Constellation Brands Takes Another Loss on Marijuana Producer Canopy Growth
Constellation Brands (NYSE: STZ) beat analysts' revenue and earnings expectations despite the continued drag of its investment in Canadian marijuana producer Canopy Growth (NYSE: CGC).
While losses in the venture narrowed to $31.7 million on a comparable basis from the $54.4 million it reported last year and even the $41.5 million Constellation reported in the fourth quarter, the beer and wine distributor continues to watch its marijuana business go up in smoke.
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Source Fool.com
