Seeking Alpha Author Ian Bezek joins Cheddar to discuss why Molson Coors stock is down 20% this year. As other alcohol companies are surging at least 30%, Bezek explores why Molson Coors fell behind. He believes the first reason may be that it's got a "merger hangover." Molson Coors made a huge purchase last year, buying the MillerCoors assets that Anheuser-Busch had to sell for anti-trust reasons as part of its merger with SABMiller. He believes eventually this merger will positively effect Molson Coors sales, but it hasn't panned out yet. Plus, Bezek talks about Molson Coors' stronghold on the craft beer industry. It's the #2 brewer in the U.S. and the UK and because of that has strong potential to turn around in 2018.

Share:
More In Business
FBI’s NBA probe puts sports betting businesses in the spotlight
The stunning indictment that led to the arrest of more than 30 people — including Miami Heat guard Terry Rozier and other NBA figures — has drawn new scrutiny of the booming business of sports betting in the U.S. The multibillion-dollar industry has made it easy for sports fans — and even some players — to wager on everything from the outcome of games to that of a single play with just a few taps of a cellphone. But regulating the rapidly-growing industry has proven to be a challenge. Professional sports leagues’ own role in promoting gambling has also raised eyebrows.
Tesla’s profit fell in third quarter even as sales rose
Tesla, the car company run by Elon Musk, reported Wednesday that it sold more vehicles in the past three months after boycotts hit hard earlier this year, but profits still fell sharply. Third-quarter earnings fell to $1.4 billion, from $2.2 billion a year earlier. Excluding charges, per share profit of 50 cents came in below analysts' estimate. Tesla shares fell 3.5% in after-hours trading. Musk said the company's robotaxi service, which is available in Austin, Texas, and San Francisco, will roll out to as many as 10 other metro areas by the end of the year.
Load More