What is Corona’s stock price, and are they publicly traded? Investors cannot purchase shares of Corona itself. Constellation Brands ($STZ) is the producer of Corona beer, and investors can buy shares of their stock. With everything that’s happening, how are they affected by the Coronavirus? Has Corona beer become a pun or a victim during the pandemic?
I can’t even believe I’m saying this, but there are some people out there who are afraid to buy a beer from Mexico because of a virus from China.
It’s comical, but people are demanding and base their decisions on irrational beliefs.
It’s hard to believe this has to be said, but Corona, the beer, has nothing to do with Corona the virus. Therefore, Corona stock shouldn’t be taking a hit.
Is Corona Publicly Traded?
Corona is not a publicly traded company, however, their parent company Constellation Brands ($STZ) is. Playing a strong game of offense, Constellation CEO Bill Newlands indicated surveys don’t reflect the company’s business performance. He called the “misinformation” about the virus’s impact on selling Corona beer “extremely unfortunate.” The next steps for the stock will depend on the economy moving forward and if people stop correlating beer with the virus.
“Our thoughts and prayers go out to those affected by this terrible virus, and we hope efforts to contain it gain traction soon.”In a later statement, Bill said their customers “understand there is no link between the virus and our business.
Moreover, “We’ve seen no impact on our people, facilities, or operations, and our business continues to perform very well.”But, as of today, Constellation Brands isn’t changing its advertising despite the name’s unfortunate similarity to the deadly virus.
Corona Revenue and Financial Overview
| Year | Estimated Revenue ($bn) | 2025 (est.) | $3.5 |
|---|---|
| 2024 | $3.4 |
| 2023 | $3.3 |
| 2022 | $3.1 |
| 2021 | $2.9 |
The outbreak of Coronavirus couldn’t have come at a worse time for Constellation Brands, aka Corona stock. As fate would have it, Constellation is in the middle of launching its new Corona-branded hard seltzer.
All at a smooth price tag of $40 million. To make matters worse, part of their marketing campaign includes a tweet, “coming ashore soon.” Hilarity ensues, shareholders cringe, and the timing couldn’t be worse. Two recent surveys show that Corona’s brand suffers from the Corona fallout. Dare I say they’re afflicted with their version of COVID-19?
In a recent survey by public relations firm 5W, 38 percent of Americans polled reported they wouldn’t buy Corona “under any circumstances” because of the outbreak. Not surprisingly, another 14 percent said they wouldn’t order Corona beer in public. Likewise, a YouGov survey found customers’ intent to buy Corona beer hit its lowest level in two years. To make matters worse, Corona’s buzz score – the metric that measures favorability- has tanked since the beginning of the outbreak.
Final Thoughts on Corona Stock
Constellation Brands spokesperson Stephanie McGuane told CNN, “Sales of Corona remain very strong, and we appreciate the continued support from our fans.”
Constellation said Corona Extra sales in the U.S. grew by 5 percent in the four weeks that ended February 16. Put another way, that’s close to double the sales trend of the last 52 weeks. On a positive note, online searches for “coronabeer virus” spiked in early February but have since declined. All may be well for Corona, after all. Learn stock trading to make money if you must stay home due to the virus.
Even though there’s no Corona stock, there are several popular alcohol companies that traders can invest in.
