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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 article lists the cannabis stocks that gained and lost on August 16, 2023. The biggest gainers were Red White & Bloom Brands, Target Group, and Khiron Life Sciences, while the biggest losers were EVIO, Tetra Bio Pharma, and Heritage Cannabis Holding.

Portfolio Pulse from Benzinga Insights

August 16, 2023 | 9:30 pm

Cannabis use among ages 21-29 has increased by 55% since 2010, while alcohol use has decreased by 11%. Aaron Grey of Alliance Global Partners sees this as a multi-decade growth opportunity for the cannabis industry, predicting a $100 billion market potential upon full legalization. Major companies like Altria and Constellation Brands are exploring opportunities in the cannabis sector, with investments in Cronos Group and Canopy Growth Corp respectively.

Portfolio Pulse from Javier Hasse

August 15, 2023 | 1:55 pm

The article lists the marijuana stocks that gained and lost on August 8, 2023. Notable gainers include Rocky Mountain High (OTC:RMHB), Earth Science Tech (OTC:ETST), and Tilray Brands (NASDAQ:TLRY). Major losers include Choom Holdings (OTC:CHOOF), CLS Holdings USA (OTC:CLSH), and Maple Leaf Green World (OTC:MGWFF).

Portfolio Pulse from Benzinga Insights

August 08, 2023 | 9:30 pm

A New York judge has halted the issuance of new cannabis licenses under a program that favors people with previous drug conviction charges. This comes after a lawsuit filed by a group of disabled military veterans who argue that the system of awarding and issuing licenses to certain social equity applicants violates the state Constitution. The lawsuit is the latest setback to the state’s rollout of a recreational cannabis market, which has been delayed by legal challenges.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 5:45 pm

Florida Governor Ron DeSantis has signed a bill that expands medical marijuana advertising and manufacturing restrictions to prohibit any products or messages promoting recreational cannabis use. The law also imposes stricter eligibility requirements for industry workers. The new law could significantly impact the market, especially if an adult-use legalization measure is enacted by voters next year. The law also removes exemptions from employment background screenings for people with certain criminal records, and expands the background screening requirement to include all medical cannabis testing lab employees.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 2:32 pm

Cronos Group Inc. reported Q2 2023 net revenue of $19.0 million, a decrease of 11.9% YoY, primarily due to lower cannabis flower sales in Israel and an adverse price/mix in the Canadian cannabis flower category. The company also announced the discontinuation of net revenue guidance and withdrawal of its net revenue target for full-year 2023. Cronos plans to wind down the Cronos Fermentation facility in Winnipeg, Canada, and expects to capture an incremental $10 to $15 million in full-year savings in 2024.

Portfolio Pulse from Vuk Zdinjak

August 08, 2023 | 12:47 pm

Cronos Group reported Q2 losses of $(0.02) per share, beating the analyst consensus estimate of $(0.03) by 33.33%. This represents a 60% improvement over the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 11:37 am

Illinois reported record recreational marijuana sales of $140 million in July 2023, the second highest monthly total since the adult-use market launched in 2020. The majority of sales came from in-state residents, with out-of-state visitors accounting for $35.8 million. The state's marijuana sales reached a record high of more than $1.5 billion in 2022. Other states such as Maryland, Missouri, Michigan, Massachusetts, and Connecticut also reported record marijuana sales.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 3:42 pm

The article lists the marijuana stocks that gained and lost on August 2, 2023. Notable gainers include Avenir Wellness Solns (OTC:CURR), Radient Technologies (OTC:RDDTF), and Panacea Life Sciences (OTC:PLSH). Significant losers include Choom Holdings (OTC:CHOOF), Hemp (OTC:HEMP), and Tetra Bio Pharma (OTC:TBPMF).

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 12:28 pm

On July 31, 2023, several marijuana stocks experienced significant price movements. Notable gainers included Hemp (OTC:HEMP), Acreage Holdings (OTC:ACRDF), and Malachite Innovations (OTC:MLCT), which saw their shares close up by 100.00%, 42.03%, and 40.95% respectively. On the other hand, Humble & Fume (OTC:HUMBF), EVIO (OTC:EVIO), and Choom Holdings (OTC:CHOOF) were among the biggest losers, with their shares closing down by 67.04%, 50.00%, and 44.44% respectively.

Portfolio Pulse from Benzinga Insights

July 31, 2023 | 9:51 pm

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