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

Republican presidential candidate Vivek Ramaswamy plans to remove federal restrictions on marijuana and psychedelics for veterans with PTSD if elected. He supports descheduling certain substances and has criticized federal prohibition on marijuana. Despite this, he voted against Ohio's state-level legalization due to conflicts with federal law and concerns over federal power overreach. His stance has been seen as inconsistent, especially with his proposal to expand the DEA while reducing other federal agencies.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 6:26 pm

The article reports significant movements in marijuana stocks on November 10, 2023. Notable gainers include GrowLife, Affinor Growers, and Belgravia Hartford Cap with increases of 400%, 146.39%, and 134.38% respectively. Corbus Pharmaceuticals and Psychemedics also saw substantial gains. On the losing side, Green Growth Brands experienced a significant drop of 90%. The movements reflect the volatile nature of the marijuana industry and could be influenced by regulatory news, earnings reports, or market sentiment.

Portfolio Pulse from Benzinga Insights

November 10, 2023 | 9:30 pm

Cronos Group Inc (NASDAQ:CRON) (TSX:CRON) reported a 22% increase in Q3 2023 revenue to $24.8 million, despite operational challenges including a strategic exit from U.S. hemp-derived CBD operations and geopolitical unrest in Israel. The company's net loss improved by 95% to $1.59 million, and its gross profit rose by 26% to $4.0 million. Cronos' shares were trading 1.85% higher following the announcement.

Portfolio Pulse from Patricio Liddle

November 08, 2023 | 7:39 pm

On November 3, 2023, several cannabis stocks experienced significant price movements. Notable gainers include EVIO, Choom Holdings, AusCann Group Holdings, Elixinol Wellness, and Nextleaf Solutions. On the other hand, Global Hemp Group, Rocky Mountain High, Rhinomed, Affinor Growers, and Item 9 Labs were among the biggest losers.

Portfolio Pulse from Benzinga Insights

November 03, 2023 | 9:30 pm

Cronos Group Inc. has launched its cannabis brand Lord Jones in the Canadian adult-use cannabis market. The brand will focus on THC-focused product innovations, with the first product being Lord Jones Hash Fusions pre-rolls. The product has been extensively researched and sensory tested to deliver a smoother experience featuring bold cannabis flavors. The pre-rolls will be available in Alberta, British Columbia, Manitoba, PEI, Saskatchewan this month and in Ontario, Newfoundland, and New Brunswick by early 2024.

Portfolio Pulse from Jelena Martinovic

November 03, 2023 | 2:41 pm

Cronos Group Inc. (NASDAQ:CRON) has launched its award-winning cannabis brand Lord Jones in the Canadian adult-use cannabis market. The first product to launch are Lord Jones Hash Fusions pre-rolls, which are increasing in popularity among adult consumers. The product will be available in Alberta, British Columbia, Manitoba, PEI, Saskatchewan this month and in Ontario, Newfoundland, and New Brunswick by early 2024.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 1:18 pm

The Drug Enforcement Administration (DEA) plans to significantly increase domestic production of delta-9 THC and other cannabinoids for research purposes in 2024. The agency also plans to maintain high levels of psychedelics production. The DEA has proposed nearly doubling the amount of psilocybin, psilocyn, and delta-9 THC manufactured compared to initial levels set for this year, while quintupling the production of ibogaine. The DEA's move comes amid a transition away from cannabinoid imports to domestic manufacturing.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 6:45 pm

Senate Majority Leader Chuck Schumer plans to amend the Secure and Fair Enforcement Regulation (SAFER) Banking Act to include criminal justice provisions. The amendments will be borrowed from a separate federal legalization bill, the Cannabis Administration and Opportunity Act (CAOA), and will include measures such as resentencing for current federal cannabis prisoners. Despite uncertainties around the new GOP House speaker's stance on cannabis, key Senate Republicans are prepared to move forward with the legislation.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 3:16 pm

The article lists the marijuana stocks that gained and lost on November 1, 2023. Notable gainers include Affinor Growers (RSSFF), Scotts Miracle Gro (SMG), and Psychemedics (PMD). Major losers include Plant Based Investment (CWWBF), Belgravia Hartford Cap (BLGVF), and Rocky Mountain High (RMHB).

Portfolio Pulse from Benzinga Insights

November 01, 2023 | 9:30 pm

A key House committee will consider amendments to a large-scale spending bill that would prevent drug testing of certain federal job applicants for marijuana and end the blockade that has kept Washington, D.C. from legalizing cannabis sales. The amendments were filed to Fiscal Year 2024 appropriations legislation covering Financial Services and General Government (FSGG). The GOP-controlled House Rules Committee, which has rejected numerous drug policy reform measures in recent months, will take up the amendments.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 3:00 pm

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