Cannabis Will Cannibalize Beer, Says Jim Cramer
Don't be surprised about Constellation's investment in Canopy Growth , says Jim Cramer.
Constellation Brands invested over $4 billion in cannabis company Canopy Growth.
The investment also means that the two companies will be working closely together to produce cannabis-infused beverages.
Back in Oct.
2018, Cramer sat down with Canopy Growth CEO Bruce Linton and Constellation's COO Bill Newlands.
Read more: Pennsylvania Is Gaining Attention as a Lucrative Cannabis Market "It's a hedge," he explained.
"When I first heard about cannabis, I said that it would disrupt beer," Cramer said.
"Because beer is fattening and cannabis isn't." "If we could get the same buzz from cannabis," legally, that we get from beer, it's a game changer, he continued.
Read more: Cannabis content from Real Money.