The stock of Constellation Brands (NYSE:), the leading beer, wine, and spirits company, had an unimpressive 2024. The price fell 8.6% last year and is now down ~23% from its all-time high reached in April. The company just published its third quarter earnings report for the fiscal 2025, which showed 0% YoY revenue growth and reduced profitability. It also lowered its sales guidance for the full year.

Understandably, the stock is down pre-market and likely to fall for the day. The question is, should investors view the post-April dip as a buying opportunity or is it part of a bigger correction yet to unfold? For starters, the Elliott Wave chart below gives no reason for optimism.

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