News dampened excitement about beverages companies bringing capital and marketing clout to growing sector.

Cannabis stocks shed some of their early gains Tuesday, after Coca-Cola Co.’s CEO said the drinks giant has no plans for the sector, disappointing hopes that global beverages companies were poised to bring their capital and marketing clout to the burgeoning industry.

Coca-Cola KO, +0.21% said last month that it was eyeing the cannabis sector, specifically the market for CBD-infused drinks, or those that contain non-psychoactive ingredients found in cannabis that are widely thought to have health benefits.

“The space is evolving quickly. No decisions have been made at this time,” Coca-Cola said at the time.

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