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The Maker of Corona Beer Made an Early Bet on Cannabis — and It's Already Made More Than $1 Billion

In its earnings report, the company said investments into Canopy Growth have already netted more than $1 billion in unrealized gains.

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Constellation Brands' investment in the world’s largest publicly traded marijuana companies is already paying off.

In its earnings report Thursday morning, the company behind Corona beer, Svedka vodka, and other alcoholic beverages said its two investments into Canopy Growth Corporation has already netted it more than $1 billion in unrealized gains thanks to the marijuana producers surging stock." 

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"Reported basis results reflect $639 million unrealized gain for an increase in fair value of the initial investment in Canopy Growth Corporation; $1.3 billion unrealized gain has been recognized since investment in November 2017," Constellation Brands said in its earnings release.

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Top photo courtesy of Adobe Stock

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