Constellation Stock Is Up Because America Loves Beer and Investors Love Pot

Bill Alpert - finance.yahoo.com Posted 5 years ago

Beer and wine sales at (STZ) led their industry in the fiscal year ending February. While Constellation earned half a billion bucks on its alcohol operations in the quarter ending February, the stock market’s enthusiasm for marijuana’s added a $1.2 billion gain in the value of Canopy securities that Constellation owns. Constellation stock (ticker: STZ) is up 6% today to $190 on the news that the Victor, NY, company earned $6.37 a share for that quarter, including investment gains on Canopy (CGC) of $4.53.

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