Constellation: Company and Growth

constellation: U.S. traded shares of Canopy Growth CGC, -0.86%WEED, -0.92% fell less than 1% and shares of Constellation STZ, 4.64% rose more than 4% after its earnings, according to Market Watch. Constellation has made a massive bet on the world's largest pot company by market capitalization, investing more than 4 billion in a minority stake in the business. Chief Executive William Newlands said early Friday in the company's earnings conference call that the company was not pleased with the recent fourth-quarter earnings of cannabis producer Canopy Growth Corp. But, Canopy Growth's fourth quarter results disappointed investors and evidently Constellation's CEO as the company's losses mounted and the company sold less cannabis sequentially in the second quarter of recreational cannabis legalization in Canada. While we remain happy with our investment in the cannabis space and its long-term potential, we were not pleased with Canopy's recent reported year-end results, Newlands said in the call. Constellation said it's share of Canopy's losses came to 106 million, or 78.2 million including tax benefits. (news.financializer.com). As reported in the news.