Constellation Brands: makes loss on Canopy investment
(CercleFinance.com) - Constellation Brands expects to make a quarterly loss of 54.
8 million dollars on its investment in Canopy Growth, according to a form filed with the SEC on Monday.
In the financial notice, the wines and spirits group says that the loss is for its quarter from the end of May to the end of August.
For the record, Constellation Brands announced in August 2018 having made a 4 billion dollar investment in the Canadian company specialised in the production and distribution of cannabis.
While its shares were bought at a price of 48.6 Canadian dollars, the Canopy share price is now just 32.8 dollars.
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