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Video: Constellation Brands CEO casts stock drop as 'total overreaction"

January 10, 2019

Jim Cramer hears from Constellation Brands' outgoing and incoming CEOs after the alcohol distributor "disappointed Wall Street" with its 2019 forecast ... Rob Sands said the stock drop was a 'total overreaction" and that he just bought a million shares last week . He also confirmed that the company is looking at "strategic alternatives" for selling some of its brands in the segment that is priced below $11 per bottle, per an unconfirmed report the Wall Street Journal published back in October - Sands said that segment is "performing very poorly"