Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Constellation Brands to Book $54 Million Loss From Canopy Growth Investment

TheMotleyFool

0 0

Constellation Brands to Book $54 Million Loss From Canopy Growth Investment

In a stark reminder that the nascent marijuana industry is still thin on profits, Constellation Brands (NYSE: STZ) said Monday it will book a considerable loss on its investment in Canopy Growth (NYSE: CGC).

The alcoholic beverages producer said it stands to lose just over $54 million on a GAAP basis from Canopy Growth in its current second quarter of fiscal 2020, which will end on Aug. 31. The booked loss will derive from Canopy Growth's quarter that stretched from April 1 to June 30.

Image source: Getty Images.

Source Fool.com

Like: 0

STZ

Share