I sold my entire TAP position today at 10am for $47 per share. I have held a position since November 5/2009 with an adjusted cost basis of 44.049 per share. I’ll take a small gain in my small position at this time because it looks like TAP has some strong headwinds. From raw material costs to continuing slow economic growth, TAP looks like it will be stuck in this price range or worse, may decline in price.
Other headwinds can be seen in these headlines:
UPDATE: Molson Coors 1Q Net Down 21%, Volumes Continue To Slide
Molson Coors: Seeing Discounting By Smaller Brewers In Canada
Molson Coors CFO: Seeing ‘Significant’ Cost Challenges From Inputs
Molson Coors: Year-Ago 2Q Benefited From World Cup Sales
Molson Coors: 2Q Comparison In UK Will Be Challenging
Molson Coors CFO: Higher Fuel, Freight Costs Add Pressure