Pepsi Slides After CFO Says Company Has No Plans for Cannabis

PepsiCo Inc. Chief Financial Officer Hugh Johnston discusses third quarter earnings.(Source: Bloomberg)

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By Craig Giammona

October 2, 2018 at 9:24 AM EDT

Updated on

October 2, 2018 at 11:51 AM EDT

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Investors wanted PepsiCo Inc. to say yes to cannabis.

Shares of the food and beverage giant were little changed in early trading on Tuesday after the company released quarterly earnings. But they took a dip after Chief Financial Officer Hugh Johnston said the company has no plans to invest in cannabis.