The largest alcohol makers are laying the groundwork to enter the cannabis beverage market, Jessica DiNapoli and Emma Rumney of Reuters reports, citing founders of cannabis brands, ingredients suppliers, and drinks manufacturers. Drinks containing THC are restricted to licensed dispensaries in 24 U.S. states. Small amounts of THC can be extracted from hemp, a crop that is legal federally and is related to marijuana. Hemp is where big alcohol companies see an opportunity. Companies in the space include Constellation Brands (STZ), Molson Coors (TAP), AB InBev (BUD), Pernod Ricard (PDRDF),and Brown-Forman (BF.B) (BF.A).
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on STZ:
- Constellation Brands Approves Equity Grants for CFO
- Trump Trade: EU looks to impose retaliatory tariffs on U.S. aircraft, cars
- Video: Why Constellation And Other Spirts Makers Are Sinking Today
- Constellation falls after Trump threatens 30% tariffs on Mexico
- Trump’s 30% Tariff Threat Targets EU and Mexico – Key Stocks at Risk by August 1