August 20, 2018 (ACCESSWIRE via COMTEX) -- CORAL GABLES, FL / ACCESSWIRE / August 20, 2018 / Typically the industry for marijuana stocks is quiet during the summer months. This year, however, has seen a surge in pot stocks during late August. As the legalization of recreational marijuana in Canada looms, some blue-chip companies have taken notice. Both companies in the alcohol space, Constellation Brands (STZ) and Molson Coors Brewing Company (TAP) have made big money bets on companies within the industry. Most recently, Constellation put $4 Billion into one budding cannabis company.

Canopy Growth CGC, +2.24% (WEED) has taken a big piece of attention in the market and for good reason. Constellation has already seen the success the first time it made a minority investment into the cannabis company and now a $4 billion infusion gets the Corona brewer in the game with nearly a 40% stake.

Canaccord Genuity's Matt Bottomley on Aug. 15 upgraded Canopy Growth from Hold to Speculative Buy and increased the price target for the company's Canadian stock to C$50. "The company is substantially better suited to execute on a global first mover advantage with the capital and strategic leverage provided by Constellation."