Over the last few years, beverage powerhouse Constellation Brands, Inc.(STZ) bought and sold brands, shuffled executives, and bet heavy on marijuana. Investors reacted with skeptical selloffs and industry insiders snickered. However, the star finally seem to be aligned for Constellation.
Constellation’s marquis cannabis investment, Canopy Growth, reported a strong outlook on a Monday (8.10) conference call between CEO David Klein and investors.
Klein reported that led by their signature Tweed brand, Canopy’s cannabis-drink business is booming. Production of these buzzy bevs doubled from June to July and is once again set to double in August according to the CEO.
Currently, the drinks are only available in Canada, but a US expansion is in the works said Canopy. The Company added that Tweed will expand their line,…