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Is Hard Seltzer Boston Beer’s Salvation?

Boston Beer's traditional brands sagged last quarter but its Truly Spiked hard seltzer brand performed well.

Company investors are feeling buzzed, but that euphoria could be short-lived.

The maker of Sam Adams and Angry Orchard crushed Wall Street’s revenue and earnings expectations on Thursday afternoon, thanks to the relatively strong performance of Twisted Tea and Truly Spiked & Sparkling.

Management was cautious, however, in talking up the potential of Truly Spiked, its hard seltzer...