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Cowen downgrades Boston Beer, says stock can drop more than 30% as hard seltzer boom fades

Health conscious American millennials have found their drink of choice: alcoholic carbonated water that is lower in calories and carbs than beer and wine. A hard seltzer craze is sweeping the United States as Generation Y and Generation Z pursue healthier lifestyles, influenced by viral trends on Instagram and YouTube.
TIMOTHY A. CLARY | AFP | Getty Images

The hard seltzer boom appears to be slowing significantly, and that should take a major bite out of Boston Beer's stock, according to investment firm Cowen.

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