America’s Favorite Imported Beer From Mexico Facing Troubled Stock Market
No matter where you come from, everyone loves a good beer.
And this is why my tíos are still single.
Posted by We are mitú on Monday, October 31, 2016
CREDIT: WE ARE MITU / FACEBOOK
Let’s be honest though, some get too much pleasure from it. We all have that drunkle.
Since the election, however, stock in Corona — America’s favorite Mexican beer import — has taken a nose dive faster than, well, this…
CREDIT: F / YOUTUBE
Five second rule doesn’t apply here. Or does it…
In one day of trading, Constellation Brands, Corona’s parent company, saw its shares drop from $166 to $153.
CREDIT: JUANCHO / YOUTUBE
That’s about an 8 percent decline for a company that also owns Corona Extra, Corona Light, Modelo Especial, Modelo Negra and Pacifico.
The decline is tied to investors’ fears in how trading between Mexico and the U.S. will play out in the coming months.
If NAFTA, a deal partly spearheaded by George H. W. Bush and signed by Bill Clinton, is revoked, tariffs would inflate the cost of ingredients going to Mexico, as well as the cost of imported Corona in the U.S. — creating a dip in profits and scaring off potential investors.
However, Corona isn’t worried about their recent dip.
CREDIT: THE SIMPSONS / FOX
Rob Sands, CEO of Constellation Brand told investors, “I don’t expect [the election] to affect our business in the short term and as these policies develop, we will respond accordingly and engage with government accordingly.”