Why Molson Coors Stock Dropped Today
Shares of global beer company Molson Coors (NYSE: TAP) fell as much as 11% in trading on Tuesday after reporting second-quarter 2022 financial results. The problem for Molson Coors is that it's feeling pressure from both sides. Revenue has become stagnant as craft beers take more market share, and that's made it almost impossible to have any pricing power.