Colorado-based Molson Coors Beverage Company (TAP) manufactures, markets, and sells beer and other malt beverage products under various brands. Valued at $11.4 billion by market cap, TAP produces many beloved and iconic beer brands, including Coors Light, Miller Lite, Madri, Staropramen, Miller High Life and Keystone, and more.
Shares of this brewing giant have underperformed the broader market considerably over the past year. TAP has declined 15.2% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 27.8%. In 2024 alone, TAP stock plunged 13%, while SPX is up 17.8% on a YTD basis.
