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 U.S. Senate Banking Committee has approved the Secure and Fair Enforcement Regulation (SAFER) Banking Act, which aims to make it safer for legal cannabis businesses to operate. The bill, which has bipartisan support, will now move to the Senate floor for further consideration. The legislation is not seen as a step towards legalization, but rather a means to address the risks associated with the current all-cash model of legal cannabis businesses.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 2:21 pm

The cannabis sector experienced mixed performance on September 26, 2023, with several stocks seeing significant gains while others suffered losses. Notable gainers include GreenGro Technologies, Rocky Mountain High, iAnthus Capital Hldgs, and Urban-gro. On the other hand, Choom Holdings, Heritage Cannabis Holding, Nextleaf Solutions, and Pharmadrug were among the biggest losers.

Portfolio Pulse from Benzinga Insights

September 26, 2023 | 9:30 pm

Marijuana stocks experienced a bearish Monday with several stocks seeing significant changes. GrowLife (OTC:PHOT), Maple Leaf Green World (OTC:MGWFF), and Nextleaf Solutions (OTC:OILFF) were among the top gainers, while James E. Wagner (OTC:JWCAF) and Rhinomed (OTC:RHNMF) were among the top losers.

Portfolio Pulse from Benzinga Insights

September 25, 2023 | 9:30 pm

Senate Majority Leader Chuck Schumer has committed to advancing a revised marijuana banking bill, the Secure and Fair Enforcement Regulation (SAFER) Banking Act, which will allow cannabis businesses to accept credit and debit cards. Schumer also plans to include the Harnessing Opportunities by Pursuing Expungement (HOPE) Act and Gun Rights and Marijuana (GRAM) Act in the final legislation. The HOPE Act incentivizes states to expunge cannabis records, while the GRAM Act allows medical cannabis patients to purchase and possess firearms. The bill also includes provisions to increase access to deposit accounts for businesses and customers, especially those in rural, low-income areas, Tribal communities, and unbanked businesses and consumers.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 4:30 pm

A revised bipartisan marijuana banking bill, the Secure and Fair Enforcement Regulation (SAFER) Banking Act, has been filed in the Senate. The bill aims to give legal cannabis businesses access to traditional financial institutions, including bank accounts and small business loans. The legislation also requires federal banking regulators to work with state banking supervisors and the secretaries of commerce and treasury to form rules or guidance to increase access to deposit accounts for businesses and customers. The bill is set to receive a markup in the Senate Banking Committee on September 27.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 3:47 pm

Bipartisan lawmakers have reportedly found a 'sweet spot' in negotiations over a marijuana banking bill, agreeing to leave a section favored by Republicans intact. The Secure and Fair Enforcement (SAFE) Banking Act is set for a committee vote next week. The bill could have significant implications for the cannabis industry, potentially easing banking regulations and allowing for stock uplisting. The American Trade Association for Cannabis and Hemp (ATACH) and the American Bankers Association (ABA) have both called for the passage of the legislation.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 3:29 pm

The article lists the cannabis stocks that gained and lost on September 18, 2023. Notable gainers include EVIO, 1933 Industries, and Target Group. Significant losers include Green Growth Brands, Rhinomed, and GrowLife.

Portfolio Pulse from Benzinga Insights

September 18, 2023 | 9:30 pm

The Financial Crimes Enforcement Network (FinCEN) reports a record-high 812 banks and credit unions are now working with the cannabis industry in Q2 2023, up from 807 in Q1 and 773 in the previous quarter. This increase could be due to more states launching adult-use marijuana programs and financial institutions becoming more comfortable with cannabis clients as bipartisan congressional lawmakers work to enact the Secure and Fair Enforcement (SAFE) Banking Act. The Senate Banking Committee has scheduled a vote on the cannabis legislation for next week.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 12:55 pm

Cronos Group Inc. has announced its first shipment of bulk cannabis under the PEACE NATURALS® brand in Germany, following a distribution agreement with Cansativa Group, a leading distributor of medical cannabis in Germany. This move marks Cronos' re-entry into the German market, which is expected to see significant growth due to recent regulatory changes. A bill introduced in August 2023 to legalize adult-use cannabis could further fuel this growth.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 11:33 am

On September 15, 2023, several cannabis stocks experienced significant price movements. Notable gainers included Choom Holdings, MJ Holdings, Body and Mind, Cansortium, and Aurora Cannabis. On the other hand, EVIO, MPX International, Maple Leaf Green World, Global Hemp Group, and Tetra Bio Pharma were among the biggest losers.

Portfolio Pulse from Benzinga Insights

September 15, 2023 | 9:30 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.