Burwick said until Boston Beer moves into the cannabis market it will be "happy to grow double digits with the portfolio that [it has]."NielsenBoston Beer's Truly hard seltzer makes up about 29% of the market share. "We tripled the brand last year. This year, we're going to come just short of tripling it again. We're investing a lot," the CEO said.of dramatic declines starting in 2015. But after the launch of its hard seltzer brand, its stock turned around.
The sparkling beverage helped offset the losses of Sam Adams in April 2018. Then by the end of June that year, Boston Beer's stock$100 per share, reaching $300. As of Aug. 30, 2019, the stock is about $440 per share, growing nearly 80% year to date. Burwick told CNBC that hard seltzers "[have] disrupted the broader beer business the way craft beer did in the 1980s. It's that much of a change. It's sort of a gold rush right now. Everybody's trying to get as much shares as they can."
Dope Peddling?
Sam Adams Chronic Lager.