Earlier this year, Canopy Growth had problems bringing THC-infused beverages to market despite the fact that Constellation Brands (NYSE: STZ) has a sizeable stake in the cannabis company.
It decided to postpone the launch of the cannabis beverages citing, “the scaling process is not complete” as a major reason for the delay. Previously the company had expected the drinks to be ready by the end of January 2020.
Shares of Canopy Growth Growth, other cannabis companies drop
Canopy Growth’s stock price fell by 1.13% to $14.05 per share on Friday despite the news. Like many other cannabis stocks, CGC has a poor composite rating (just 21) as well as an EPS rating of 20.
Other stocks in the cannabis market fluctuated but only slightly. Aphria Inc (NASDAQ: APHA) was down 0.23% to $4.41 per share and Cronos Group Inc (NASDAQ: CRON) was down just 0.6% to $5.03 per share.
Meanwhile, Aurora Cannabis Inc (NYSE: ACB) was down 1.93% to $4.58 per share and TilrayInc (NASDAQ: TLRY) plunged 2.03% to $4.82 per share.
