- Constellation Brands is upping its stake in Canopy Growth by $4 billion to 38%.
- The investment overshadowed a bigger-than-expected first-quarter loss by the Canadian cannabis company.
- Shares of CGC surged more than 22% in trading Wednesday following the announcement.
- Follow Canopy’s stock price in real-time here.
Canopy Growth, the largest publicly traded marijuana company, fell short of Wall Street’s earnings expectations on Tuesday, but news of a new investment overshadowed the larger-than-expected loss.
Shares of the Canadian company surged more than 22% in trading Wednesday after Canopy announced Constellation Brands — the $42 billion company behind Corona — had upped its investment in the marijuana grower by $4 billion and now owns a 38% stake.
Canopy Growth said in a ... read more at: https://finance.yahoo.com/news/world-apos-biggest-marijuana-stock-125000361.html