Streetbeat News

CRON

Cronos Group Inc.

https://www.thecronosgroup.com

Industry

Drug Manufacturers - Specialty & Generic

Cronos Group Inc. operates as a cannabinoid company. It manufactures, markets, and distributes hemp-derived supplements and cosmetic products through e-commerce, retail, and hospitality partner channels under the Lord Jones and Happy Dance brands in the United States. The company is also involved in the cultivation, manufacture, and marketing of cannabis and cannabis-derived products for the medical and adult-use markets. It sells cannabis and cannabis products, including dried cannabis, pre-rolls, edibles, concentrates, and cannabis extracts through wholesale and direct-to-client channels under its wellness platform, PEACE NATURALS; and operates under adult-use brands, Spinach. It also exports dried cannabis and cannabis oils to Germany, Israel, and Australia. Cronos Group Inc. was founded in 2012 and is based in Toronto, Canada.

Open

2.06

Mkt cap

765M

Volume

High

2.06

P/E Ratio

-13.33

52-wk high

3.14

Low

1.98

Div yield

N/A

52-wk low

1.85

The report by Zuanic & Associates on the Canadian cannabis market shows regional disparities and growth trends, with a 16% YoY growth in nationwide sales. Alberta leads in store density and per capita spending, while Quebec has the lowest. The market is affected by high excise taxes, product caps, and marketing restrictions. Organigram, Village Farms International, Cronos, and others saw varying growth rates across provinces, while companies like Canopy and Tilray experienced declines. The upcoming Vape Market Trends panel will feature CEOs from TILT Holdings and Greenlane Holdings.

Portfolio Pulse from Nicolás Jose Rodriguez

December 08, 2023 | 1:52 pm

Republican Representative David Joyce is set to introduce the STATES 2.0 Act, which aims to de-schedule state-legal cannabis at the federal level. This legislative move could significantly impact the legal landscape for cannabis businesses in the United States.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 7:46 pm

The article lists the cannabis stocks that experienced significant gains and losses on December 4, 2023. Notable gainers include Global Compliance, Indiva, and Canopy Growth, with increases of 89.29%, 38.93%, and 22.59% respectively. On the losing side, Global Hemp Group led the declines with a 76.68% drop. The article reflects the volatility in the cannabis market and may influence investor sentiment.

Portfolio Pulse from Benzinga Insights

December 04, 2023 | 9:30 pm

The cannabis sector experienced a bullish trend on November 30, 2023, with several companies seeing significant gains in their share prices. Corbus Pharmaceuticals, Neptune Wellness Solutions, and Eastside Distilling were among the top gainers, while CNBX Pharmaceuticals, CLS Holdings USA, and Blueberries Medical were the biggest losers. The article lists the closing prices and percentage changes for both gainers and losers in the cannabis space.

Portfolio Pulse from Benzinga Insights

November 30, 2023 | 9:30 pm

On November 27, 2023, several cannabis stocks experienced significant price movements. EVIO led the gainers with a 9900.00% increase, while Cann Gr topped the losers with a 27.38% decline. Notable gainers included AusCann Group, Global Compliance, and Item 9 Labs, with increases of 212.50%, 66.67%, and 39.13% respectively. Among the losers, Rocky Mountain High, 1933 Industries, and iAnthus Capital Holdings saw declines of 21.21%, 15.00%, and 9.37%. Corbus Pharmaceuticals and Cara Therapeutics were notable NASDAQ-listed companies with gains and losses of 15.21% and 5.11% respectively.

Portfolio Pulse from Benzinga Insights

November 27, 2023 | 9:30 pm

Cronos Group Inc. (CRON) has sold its Peace Naturals Campus to Future Farmco Canada Inc. for CA$23 million. The sale includes a leaseback agreement for continued operations at the campus, with a five-year term and an option for renewal. Cronos aims to improve its gross margin profile and reduce costs through this deal, which is expected to strengthen its balance sheet and support organic growth without disrupting current operations. The transaction is subject to conditions and approvals, including from Health Canada. CRON shares dropped slightly in pre-market trading.

Portfolio Pulse from Jelena Martinovic

November 27, 2023 | 2:06 pm

Cronos Group's subsidiary has agreed to a sale and leaseback deal for its Peace Naturals Campus property in Canada with Future Farmco Canada. The transaction is valued at C$23 million.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 12:35 pm

Senate Majority Leader Chuck Schumer stated that the Senate is close to a floor vote on the SAFER Banking Act, which aims to reform marijuana banking laws. The bill requires more GOP support to reach the 60-vote threshold for passage. Schumer emphasized the public's support for marijuana legalization and the need to rectify harms caused by the drug war, particularly in minority communities. The bill includes provisions to support small minority businesses and may be further amended to address cannabis expungements and gun rights for consumers. Schumer has not personally used marijuana but supports legalization. Former NBA star Al Harrington, owner of cannabis company Viola, participated in the interview.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 4:52 pm

On November 17, 2023, several marijuana stocks experienced significant price movements. Notable gainers included EVIO, Global Hemp Group, and iAnthus Capital Holdings, with increases of 100%, 91.11%, and 49.25% respectively. Other gainers were Body and Mind, Item 9 Labs, CordovaCann, SOL Global Investments, Corbus Pharmaceuticals, GrowGeneration, and various others. On the losing side, 1933 Industries led the declines with a 37.93% drop, followed by Zoned Properties, 22nd Century Group, Charlottes Web Holdings, MedMen Enterprises, Greenlane Holdings, Khiron Life Sciences, Eastside Distilling, Cansortium, and Curaleaf Holdings.

Portfolio Pulse from Benzinga Insights

November 17, 2023 | 9:30 pm

Marijuana stocks experienced significant volatility with some companies seeing extreme gains while others faced steep losses. Notable gainers included MPX International and GrowLife, with MPX International closing up 7000.00% and GrowLife closing down 33.00%. The article lists numerous other cannabis-related companies with varying degrees of price changes on the trading day.

Portfolio Pulse from Benzinga Insights

November 16, 2023 | 9:30 pm

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