Synopsis: Coca-Cola CEO Says He Has No Plans to Enter the Cannabis Space
This week’s Hot Article, Coca-cola Ceo Says He Has No Plans to Enter the Cannabis Space, written by Ciarra Linanne and published by Marketwatch.com, is about rumors surrounding Coca-Cola and cannabis.
The CEO of Coca-Cola, James Quincey, has responded to an analyst question regarding the company’s earnings call and post-announcement last month that the company was monitoring the CBD category of cannabis. CBD is not psychoactive. CBD has drawn other companies like Corona beer maker Constellation Brands to make sizable investments in the Canadian cannabis company Canopy.
We don’t have any plans at this stage to get into the space. So that’s kind of where we are,” Quincey said.
Coca-Colas shares were up 1.4% in early trading and have gained 2.8% in 2018.
This statement by the CEO of Coca-Cola stresses the importance of legitimization of the cannabis marketplace along with cautious optimism moving forward. Monitoring a market is not the same as engaging in one, and for now, our single point of reference for potentially explosive growth acceleration is a single substantial investment by Constellation Brands in Canopy.