The Best Marijuana Investment Could Be a Beer Stock
For years, many in the business community believed that tobacco and alcohol companies would eventually break into the marijuana market.
Now it seems that prediction is finally playing out. Constellation Brands (NYSE: STZ), the US distributor of Corona, Modelo, and Svedka Vodka, as well as the world's leading wine company, just announced that it would acquire a minority stake in Canopy Growth Corporation (NASDAQOTH: TWMJF), a leading producer of medicinal cannabis products.
Constellation paid $191 million for a 9.9% stake in Canopy, in addition to warrants that give it the opportunity to acquire an additional ownership interest. The company explained the decision:
Source: Fool.com
Constellation Brands Inc. Stock
€230.00
0.970%
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