Cramer: Constellation's Investor Day a Major Catalyst as Activist Elliott Pushes for Changes

Jim Cramer sees Constellation's upcoming investor day on Nov. 2 as a major catalyst for the stock.

Activist hedge fund Elliott Management recently disclosed a stake in Constellation and wants to boost the stock price.

Constellation reported strong Q2 results but its wine/spirits division lagged while its beer portfolio grew.

Cramer thinks Elliott may push for changes like divesting the spirits business or initiating buybacks.

Cramer advises focusing on the investor day over Constellation's latest earnings report for clues about the company's future.