What happened Molson Coors (NYSE: TAP) stock underperformed a weak market last month, falling 21% compared to a 12.5% drop in the S&P 500, according to data provided by S&P Global Market Intelligence. The decline put the beer giant in bear market territory along with most of its peers, having fallen 30% so far in 2020 compared to a 24% drop in broader indexes. Image source: Getty Images. So what Molson Coors continues to produce its alcoholic beverages despite the COVID-19 pandemic, and in fact its consumer staples status means it is officially an essential part of the economy that must remain operational. However, the company saw an abrupt pause in several important revenue lines last month. These include the widespread closing of restaurants and bars, plus the cancellation of sporting events, concerts, and nearly every other form of public entertainment across key markets like the U.S. and Canada. On-premise beer sales, as a result, plunged in recent weeks even as demand spiked at supermarket chains and other retailers. Now what Molson Coors will announce its latest earnings results on April 30, and investors will soon learn the scope of COVID-19's impact on sales and earnings. The company will likely discuss its liquidity position, too, since its loss of revenue might require significant cost cuts and additional debt to see the business safely through this historic operating disruption. 10 stocks we like better than Molson Coors BrewingWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Molson Coors Brewing wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of March 18, 2020 Demitrios Kalogeropoulos has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source