Molson Coors Expects To Launch Cannabis Beverage In 2019

Molson Coors Brewing Co TAP shares are surging after the beverage maker reported a third-quarter earnings beat Wednesday.

What Happened

Molson Coors CEO Mark Hunter said he sees the Canadian cannabis drink market as a tremendous opportunity as the company looks to pioneer the category. The mega brewery said it will announce a cannabis beverage offering in early 2019.

Why It Matters

Several major breweries have shown a keen interest in cannabis-infused, non-alcoholic beverages, which could ultimately make up a big portion of revenue over time.

Cannabis beverages could make up between 20-30 percent of the Canadian cannabis market, Hunter said. Molson Coors values the Canadian cannabis market in the $7 billion-$10 billion range.

What's Next

The Coca-Cola Co KO was rumored to jump on the cannabis-infused drink trend, but CEO James Quincey dismissed these rumors Tuesday.

“We don’t have any plans at this stage to get into the space,” Quincey said on Coke's third-quarter earnings call, according to Fox Business. "So that’s kind of where we are.”

Despite the enthusiasm behind cannabis-infused beverages, Alan Brochstein, founder of New Cannabis Ventures, issued a word of warning for investors looking to play the space. 

“The takeaway is that people should be very careful when they talk about cannabis beverages. It’s not like you just take some weed and mix it with some water and you have a drink,” he said. 

Related Links:

The '420 Investor' Talks Canada's Legalization, Calls Cannabis Stocks A Crowded Trade Right Now

Cannabis Stocks Largely Down On Canada's First Day Of Legal Leaf

Photo courtesy of Molson Coors. 

Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: CannabisEarningsNewsMarketsMediaBeerFox BusinessJames QuinceymarijuanaMark Huntermedical marijuanaRecreational Marijuana
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

The Benzinga Cannabis Capital Conference is coming to Florida

The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.

Get your tickets now on bzcannabis.com – Prices will increase very soon!


Loading...