Mass alcohol producer and distributor Constellation Brands, home to well-known names like Corona and Modelo, topped Cramer’s power ranking.
Shares of Constellation have been trading wildly since the beer, wine and liquor company took a major stake in Canopy Growth, a Canadian cannabis producer. Last week, Constellation Brands’ CEO insisted on “Mad Money” that the investment was an offensive foray into the marijuana space, not an attempt to save a declining core business.
And even though Constellation’s stock is down slightly year to date, Cramer said the company’s prospects in its core business and the marijuana space far overshoot the risks.
“Turns out Corona and Modelo are doing great. Oh, and while the marijuana stocks have been frothy and, you know, a little bit too hot for this guy, the farm bill that’s currently being debated in Congress could legalize cannabidiol — that’s CBD — at the federal level, and Constellation would instantly be able to get into that business,” he said.
“I think the stock’s ridiculously cheap here given that kicker and it has a lot more room to run,” the “Mad Money” host added.