Cramer on Constellation Brands, Beer and Pot
With news of Constellation Brands' (STZ) - Get Report latest $4 billion investment in Canopy Growth (CGC) - Get Report , we're revisiting Jim Cramer's latest comments on the canopy space.
In the August Action Alerts PLUS members' call, Jim Cramer discusses former portfolio holding Constellation.
"Here's one of the few consumer product stocks that held up through the late spring assault on the group. We had a decent basis after buying it down, but we had no desire to unload it," he said.
Worries about soft wine sales, and pot stealing sales from beer all came into play.
"Constellation reported weaker beer and wine figures. Subsequently the pot drumbeat has grown louder," he said.
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