Another Big Beverage Maker Is Getting Into Cannabis
When Constellation Brands announced it was investing in pot producer Canopy Growth back in 2017, it marked a major turning point for the industry, with outsiders beginning to show a lot more interest in cannabis. Since then, Molson Coors has gotten involved in the development of cannabis-infused beverages, as has Anheuser-Busch. With the volume of beer sales declining by 2.9% last year, the industry could benefit from more growth opportunities, so it may not be surprising if companies turn to a hot new sector like cannabis.
One more big name that is starting to explore cannabis is The Boston Beer Company (NYSE: SAM). Last month, management announced it would be dipping its toes into the industry and begin researching nonalcoholic beverages. Is a move into cannabis drinks inevitable for Boston Beer, and if so, does that make the stock a must-buy?
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Source Fool.com
