Benzinga | Sep 6, 2020 09:35AM EDT

Story Behind The Ticker: Molson Coors Beverage

Molson Coors (NYSE:TAP) is one of the largest beer producers in the world. It brews and markets multiple company-owned brands, but also sells various other partner brands in certain locations.

The company was formed in 2005 through the merger of Molson of Canada and Coors of the U.S.

If you're not a beer fan, the ticker might come off as a little confusing but turns out it's very relevant to the brewing company. A tap refers to a valve that controls the release of beer from a keg. Originally, both kegs and the affixed tap used to be wooden but now kegs are stainless steel.

A lot of beer fanatics around the world believe beer tastes better "on tap," meaning coming from a keg instead of a bottle. Anytime you get a beer on tap, you'll surely think of Molson Coors.

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