Jim Cramer catches up with Constellation CEO Bill Newlands after the company's latest earnings report and gets insight on the future of cannabis.
Canopy Growth could generate more than $1 billion in revenue by the end of its fiscal year, Constellation Brands CEO Bill Newlands told CNBC Thursday.
"If you look at Canada alone, Canada is on a run rate of $5 [billion] to $6 billion in sales, and Canopy is the leading player in that market," Newlands told "Mad Money's" Jim Cramer."Then you add in new form factors later this year in things like beverage and other edibles, we think the sky's the limit. This is going to be a big business, and Canopy is going to be the leader.
Constellation beat expectations in its latest earnings report with the help of beer sales, which were up about 9.3% from the year prior. Wine sales, however, dropped 7.6%. The company is making adjustments to line up with changing consumer tastes.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Vogue publisher Conde Nast hires former Pandora CEO Roger Lynch as global CEOConde Nast, the publisher of Vogue, Vanity Fair and the New Yorker, has hired the former chief executive of Pandora as its first global CEO, the company said...
Read more »
Salzgitter CEO eyes Thyssenkrupp-Tata Steel JV remedies: CEOSalzgitter's chief executive will look at any assets that Thyssenkrupp and ...
Read more »
Jeff Bezos' investigator thinks Saudi Arabia hacked his cell phone — here's how it could have happenedAmazon CEO Jeff Bezos' security consultant Gavin De Becker all but pointed his finger at a $1 billion Israeli intelligence company.
Read more »
A CEO who sold a startup for $1 billion, led a big IPO for another, and raised $80 million for a 3rd shares some simple advice on building a tech unicornA CEO who sold a startup for $1 billion, led a big IPO for another, and raised $80 million for a 3rd shares some simple advice on building a tech unicorn biprime
Read more »
TVA to get 60 percent of energy from non-carbon sources by 2020: CEOThe chief executive of the Tennessee Valley Authority said on Tuesday the U.S.-o...
Read more »
Blue Apron is soaring after its CEO steps down (APRN) | Markets InsiderBlue Apron is soaring after its CEO steps down (APRN)
Read more »
Bank of America CEO Brian Moynihan says US economy is strong and growingMoynihan spoke with CNBC ahead of the Consumer Bankers Association's annual conference.
Read more »
IBM CEO Ginni Rometty's solution to closing the widening skills gap in AmericaIBM is investing $1 billion in initiatives like apprenticeships to train workers for what it calls 'new collar' jobs.
Read more »
PG&E reportedly nears a deal to overhaul its executive board and replace the CEOThe embattled utility company is nearing a deal with hedge funds to overhaul its board and replace the CEO, Bloomberg reports.
Read more »
IBM CEO Ginni Rometty: AI will change 100 percent of jobs in next decadeIBM is investing $1 billion in initiatives like apprenticeships to train workers for what it calls 'new collar' jobs.
Read more »