Coca-Cola Chief Executive James Quincey said Tuesday the company has no plans to enter the cannabis sector. Quincey was responding to an analyst question on the company’s earnings call following public commentary last month that the drinks giant was monitoring the non-psychoactive CBD category, which has drawn in other companies, notably Corona beer maker Constellation Brands Inc. STZ, -1.50% which has invested $4.0 billion in Canadian weed company Canopy Growth Corp. CGC, +5.38% WEED, +3.91% “We don’t have any plans at this stage to get into the space. So that’s kind of where we are,” Quincey said, according to a FactSet transcript of the call. Shares were up 1.4% in early trade and have gained 2.8% in 2018, while the Dow Jones Industrial Average DJIA, +1.08% and S&P 500 SPX, +1.03% have fallen 0.3%.
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