Constellation Brands Inc. just added fuel to a fire, pushing marijuana stocks to extend their gains on Wednesday.
Pot stocks from Canopy Growth Corp. to Tilray Inc. widened their gains in afternoon trading after Constellation Brands Chief Operating Officer Bill Newlands said the cannabis industry on its way to becoming a worldwide business.
“We think this is going to be a big business worldwide,” Newlands said at the Barclays Consumer Staples Conference in Boston. “This is not going to be limited to Canada. This will undoubtedly be a market that develops in the United States. It’s developing around the world in places like Germany and Australia and other markets.”