Mass alcohol producer as well as distributor Constellation Brands, home to well-known names like Corona as well as Modelo, topped Cramer’s power ranking.
Shares of Constellation have been trading wildly since the beer, wine as well as liquor company took a major stake in Canopy Growth, a Canadian cannabis producer. Last week, Constellation Brands’ CEO insisted on “Mad Money” that will the investment was an offensive foray into the marijuana space, not an attempt to save a declining core business.
as well as even though Constellation’s stock can be down slightly year to date, Cramer said the company’s prospects in its core business as well as the marijuana space far overshoot the risks.
“Turns out Corona as well as Modelo are doing great. Oh, as well as while the marijuana stocks have been frothy as well as, you know, a little bit too hot just for that will guy, the farm bill that will’s currently being debated in Congress could legalize cannabidiol — that will’s CBD — at the federal level, as well as Constellation might instantly be able to get into that will business,” he said.
“I think the stock’s ridiculously cheap here given that will kicker as well as the idea includes a lot more room to run,” the “Mad Money” host added.