Back in early July, I told my readers that one of the "safer" ways to invest in Canopy Growth was through buying shares of Constellation Brands.
Constellation owns a 38% stake in Canopy, so it has skin in the game and exposure to the cannabis market.
But that's just scratching the surface…
Outside of its stake in Canopy, which is already a huge deal, Constellation is also the maker of Corona and owns whiskey, vodka, and tequila brands. This gives it yet another source of revenue and a defensive moat.
Bottom line, it's truly a force to be reckoned with in the cannabis sector!
However, Constellation is already looking ahead to the future. It has sold off some of its wine brands that retail for under $11 so that management can focus on selling more lucrative adult beverages.
Overall, I believe that this is a stock you can retire on. Why? Constellation is a powerhouse company you'll want to keep in your portfolio on a very long-term basis – because it's only going to grow every year.
With that kind of growth and profit potential, you'll be living a very comfortable retirement.
Now, the stock price did take a bit of a dip in January, but it's been rebounding ever since. And you shouldn't be listening to those newer investors who like to focus on the share price and say it's expensive. If you focus on accumulating shares of a quality company, it will add up over time.