Thesis
The Q2-19 earnings report for Craft Brew Alliance (BREW) was largely a rehash of a familiar story for the company in recent years. Kona Brewing, the Hawaiin-based beer company Craft Brew Alliance acquired in 2010, saw strong growth while its other beer brands overall saw their consumption diminish.
The company noted on the call that trends clearly show alcohol consumption in America is shifting away from craft beer. While beer will remain a focus of Craft Brew Alliance, the company is strongly pivoting to the creation of several alcohol-infused seltzer brands in