The beer business has been hit surprisingly hard by COVID-19, despite the fact that liquor store sales seemed to surge in the early days of the pandemic. As the world has entered more of a steady state in the last few months, it seems beer consumption has declined as it becomes harder to meet up with friends at a local pub or restaurant.
Consumer discretionary stocks like Molson Coors (NYSE: TAP) have suffered along with other brewers, and Molson Coors' stock price is down 36.5% so far this year with no sign of a recovery in sight. So is this a buying opportunity or a new normal for the brewer? Let's take a look at the business with a long-term view in mind.
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Source Fool.com