Constellation Brands (NYSE: STZ), the alcoholic beverage giant behind such wine brands as Franciscan Estates and Robert Mondavi, beers such as Corona and Modelo, and a catalog of others, is feeling an expectations hangover. The company warned last week that it was cutting guidance because of lower than forecast wine sales. But the bigger news is that it has already realized it overpaid for its stake in Canadian legal cannabis player Canopy Growth (NYSE: CGC).
In this segment of the Motley Fool Money podcast, host Chris Hill and senior analyst Aaron Bush discuss the issues the company faces.
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