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That glass was actually spiked seltzer, not beer
We can confidently say we didn't expect this: Arizona Iced Tea is coming outwith weed gummies.
Markets are still recovering from Monday's worst drop of the year — now Uber reports earnings today fresh after Lyft.
Turns out Sam Adams isn't really a beer company anymore
Carb problems... Beer feels 'em. We've been chatting with you for weeks about declining sales (beer is now under 50% of all alcohol consumed in the US). And Boston Beer Co. is obsessed with ales — it owns Sam Adams, just bought IPA fan Dogfish Head, and often touts its beard-approved craft status. But research firm IRI recently reported this stat: Only 25% of Boston Beer's biz is beer.
That means 75% is non-beer stuff... In fact, its new profit puppy is super clear: Truly Hard Seltzer. The citrus-infused, gluten-free option has been Boston's summer tailgate champ, driving the company's 21% increase in shipments last quarter. Here's the rest of Boston Beer's non-beer, beach-beverage roster:
Pure beer stocks are disappearing... Boston Beer isn't really a beercompany anymore. Corona-owner Constellation Brands is big on whiskey, vodka, and CBD-infused experi-beverages. Bud-owner AB-InBev is also investing hard in non-beer options, like Babe. Meanwhile, Molson Coorsdropped last week because it's overly dependent on Coors. The beer legends that are succeeding do it by trading what's on tap for what's light, fruity, or Cannabis-y.
35 states just rejected a $10B settlement from opioid distributors
Three drug dealers are getting sued by 35 states... The stocks of McKesson Corp, Cardinal Health, and AmerisourceBergen fell on a report from Bloomberg that they offered $10B to settle opioid lawsuits. Those 35 states had a completely different number in mind.
There's plenty to blame for America's opioid epidemic... Purdue Pharmainvented (and aggressively marketed) the addictive Oxycontin, while doctors over-prescribed it. Then there are these 3 prescription drug distributors — they hook up pharmacies with the pills (aka the drug dealer's drug dealer). Here's why that $10B they offered to end the whole thing is a problem:
What matters to stocks isn’t when news becomes official... it’s when news becomes credible. Investors reacted fast to Bloomberg's credible report, dropping drug distributor stocks — so by the time an official verdict is reached, the fine could already be "baked in" to the drug distributors' stock prices. Just like Facebook shares barely budging after its $5B fine became official last month — the news was already baked in.
In : 848FINACE
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