The Company intends to utilize Altria Group, Inc.'s sales and distribution network to access the U.S. convenience store retail channel in order to gain consumer insights prior to expanding distribution more broadly. Joe honed his investing skills as an analyst for Stock Advisor, Supernova, and Fool One. The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. Let's conquer your financial goals together...faster. Citizens in New Jersey, Arizona, and South Dakota recently voted to legalize recreational marijuana, and Democratic presidential candidate Joe Biden has promised to decriminalize marijuana at the federal level. Shares of Cronos Group (NASDAQ:CRON) surged 16.7% on Thursday, following the marijuana producer's third-quarter results. 3 Marijuana Stocks to Buy With Decriminalization on the Table, Zacks Market Edge Highlights: Aurora Cannabis, Canopy Growth, Cronos Group, Innovative Industrial Properties and Constellation Brands, Cannabis stocks track Aphria's plunge lower, Kristen Bell Launches Happy Dance™ CBD Brand with Cronos Group, Why Aphria, Canopy Growth, and Cronos Group Stocks Jumped Today, Cronos Group Is a Shaky Bet in a Post-Pandemic World, The 5 Best Marijuana ETFs for Conservative Portfolios, Why Marijuana Stocks Tilray, HEXO, and Cronos Group Were on Fire Thursday, Why Cronos Has Too Many Red Flags That Should Scare Investors Away, Pot stocks rally on Harris marijuana comments during debate, 7 Sin Stocks to Buy Today For Tempting Dividends, Cronos Group launches leading medical brand PEACE NATURALS™ in Israel, 7 Marijuana Stocks to Buy That Will Survive 2020, 7 Sin Stocks To Buy That Will Outperform the S&P 500, Don't Buy Cronos Group Stock Until You See This, Tilray Stock Set To Soar If Biden Wins On November 3, Cronos Group Recognized by the Toronto Stock Exchange’s TSX30 Program, Cronos Group Inc. to Present at the CIBC 19th Annual Eastern Institutional Investor Conference, Investors Should Be Realistic with Tilray Stock, Cronos Group Announces Expanded Leadership Structure to Drive Next Phase of Growth, A Wall Street analyst has crowned Canadian cannabis company Cronos Group a 'new king in the north' and upgraded its shares to 'buy' (CRON), Cannabis producer Cronos drops despite beating its highest profit estimate (CRON), Cannabis giant Cronos Group gets a boost after saying it will buy a state-of-the-art fermentation and manufacturing facility (CRON), Cannabis producer Cronos Group jumps after appointing a Mondelez veteran as its chief innovation officer (CRON), Cronos catapults higher after saying it plans to enter the US CBD market within the next year (CRON), Cannabis stocks are sliding during the FDA's public hearing on CBD products (TLRY, ACB, CGC, CRON), Weed stocks are trading at astronomical valuations despite not being able to operate in the US (ACB, WEED, CRON, TLRY), Cannabis producer Cronos Group rises despite posting wider loss, missing on sales (CRON). Investors bid up Cronos Group's stock after its Q3 earnings release. Returns as of 11/12/2020. All rights reserved. In September 2019, Cronos signed a deal with MediPharm Labs (OTC:MEDIF), a company that provides cannabis extraction services. Sure, the company's shares slid by "only" 26%, whereas the Horizons Marijuana Life Sciences Index ETF -- which holds many of the top cannabis companies, including Cronos -- lost 36% of its value last year. * Leading the index were Corus Entertainment Inc , up 9.8%, Onex Corp , up 5.3%, and Home Capital Group Inc , higher by 5.1%. At this point, it isn't clear to what extent vape-related deaths and illnesses will hinder the growth of the market for vape products. However, Cronos Group's operating losses widened to $41.2 million, compared to $30.7 million in the year-ago period. It is worth noting that the market for vaping products experienced turmoil since last summer after deadly health concerns related to vaping arose. The company only boasts four such agreements, whereas both Aphria (NASDAQ:APHA) and Canopy Growth (NYSE:CGC) -- which are two of Cronos' biggest rivals -- have signed supply deals with every Canadian province. The stock price moved down to $6.04 following the option alert. That, coupled with Cronos lagging its peers in two key categories -- production capacity and provincial supply agreements -- does not bode well for the company. In December 2018, Altria announced it would make a CA$2.4 billion ($1.8 billion) investment in Cronos to acquire a 45% stake in the marijuana company. Higher recreational cannabis sales in Canada and medical marijuana sales in Israel also played a role in Cronos Group's revenue growth. Under the terms of the agreement -- the financial details of which were not disclosed -- MediPharm Labs will fill, label, and package vaporizers for Cronos. Lastly, and perhaps most importantly, Cronos has thus far posted revenue figures that were not nearly up to par with its peers. Shares of Cronos Group (NASDAQ:CRON) surged 16.7% on Thursday, following the marijuana producer's third-quarter results. The gains were fueled by sales of Lord Jones cannabidiol (CBD) products, which Cronos acquired last year. Could a ‘Green Wave’ Finally Lift Aphria Out of Its Funk? But the company is also benefiting from Altria's distribution network. Cronos Group's net revenue rocketed 96% higher to $11.4 million. Cronos also acquired Redwood Holdings Group -- a company with CBD-based products sold under the popular brand name Lord Jones in retail stores in the U.S. -- in a cash and stock deal valued at $300 million. By comparison, Aphria, Canopy, and Aurora posted revenue figures of CAD$126 million ($96.4 million), CAD$76.6 million ($58.6 million), and CAD$75.2 million ($57.6 million), respectively. The company's projected output of 117,500 kilograms per year is unimpressive compared to Aurora's 662,000 kilograms per year, Canopy's 550,000 kilograms per year, and Aphria's 255,000 kilograms per year. Cronos Group (NASDAQ: CRON) shares experienced unusual options activity on Wednesday. Higher sales and marketing costs, research and development investments, and expenses related to its Lord Jones acquisition all contributed to the cannabis company's losses. Disclaimer | Stock Advisor launched in February of 2002. Despite these shortcomings, however, Cronos has a secret weapon, namely its partnership with tobacco giant Altria (NYSE:MO). Cronos Group Reports 2020 Third Quarter Results. Cumulative Growth of a $10,000 Investment in Stock Advisor, Will Cronos Group Rebound In 2020? Commerce Policy | First, it is essential to acknowledge what Cronos doesn't do as well as many of its competitors. Cronos Group (NASDAQ:CRON) was once known as the best-performing marijuana stock of all time, and the good news for the company is that it performed better than many of its peers in 2019. The bad news for Cronos, however, is that it still didn't perform well. Better Marijuana Stock to Buy: Cronos or Canopy Growth? Better Marijuana Stock to Buy: Cronos or Canopy Growth? That was above analysts' estimates for revenue of $10.8 million. Still, a 26% decline is nothing to be proud of, particularly when the broader market performed very well; the S&P 500 was up by about 29% in 2019. PEACE+ will sell hemp-derived CBD tincture products through a test market of approximately 1,000 retail stores in the U.S. View the latest Cronos Group Inc. (CRON) stock price, news, historical charts, analyst ratings and financial information from WSJ. Let's conquer your financial goals together...faster. @themotleyfool #stocks $MO $CRON $ACB $CGC $HMLSF $APHA $MEDIF $HMMJ, the best-performing marijuana stock of all time, 4 Top Value Stocks on Sale to Buy Right Now, 5 Turnaround Stocks That Are Screaming Buys, 3 Dividend Stocks That Pay You Better Than Coca-Cola Does, Got $3,000? The latest news and upcoming dividend, earnings, and split events for Cronos Group Inc. (CRON). Furthermore, Cronos' production capacity also compares unfavorably with that of its competitors. Cronos Group (NASDAQ:CRON) was once known as the best-performing marijuana stock of all time, and the good news for the company is that it performed better than … He battle-tested his investment philosophy and strategies as portfolio manager of Tier 1, a market-crushing Motley Fool real-money portfolio that delivered 24.58% annualized returns during its existence. In its press release disclosing its third-quarter financial results, Cronos announced it was launching a new venture, a hemp-derived cannabidiol (CBD) brand called Peace+. Cronos does have a few things going its way, including its presence in the U.S. CBD market and its partnership with Altria. Cronos Group's net revenue rocketed 96% higher to $11.4 million. These 5 Beaten-Down Stocks Are Begging to Be Bought, Copyright, Trademark and Patent Information. 10/18/19: A Wall Street analyst has crowned Canadian cannabis company Cronos Group a 'new king in the north' and upgraded its shares to 'buy' (CRON) 08/08/19: Kurt Schmidt appointed President and CEO; Mike Gorenstein appointed Executive Chairman Launched a … All of these developments could help to fuel Cronos Group's growth in the coming years. Stock Advisor launched in February of 2002. Passionate about teaching and learning, he enjoys helping others make better decisions about their finances -- and enjoys it just as much when they return the favor. Market data powered by FactSet and Web Financial Group. Cumulative Growth of a $10,000 Investment in Stock Advisor, Why Cronos Group Stock Soared Today @themotleyfool #stocks $CRON, Why Cronos Group, HEXO, OrganiGram, and Other Marijuana Stocks Soared Today, Why Marijuana Stocks Like Cronos, Tilray, and HEXO Blasted Higher Today, 5 Ways the Federal Government Is Harming the Cannabis Industry, 3 Robinhood Stocks That Could Skyrocket If Joe Biden Wins in November. Even with the U.S. Food and Drug Administration recently warning consumers about the dangers of CBD, the U.S. CBD market is projected to grow at a fast pace over the next few years. Returns as of 11/12/2020. Market data powered by FactSet and Web Financial Group. It seems plausible that Cronos will eventually develop vaping products in collaboration with Altria. In the Canadian market, Cronos does not have as many provincial supply agreements as some of its peers. However, the company's financial results have not only been mediocre but also fall short of figures being posted by similarly sized peers. © 2020 Insider Inc. and finanzen.net GmbH (Imprint). A Fool since 2019, Prosper's writing focuses primarily on the healthcare sector. See you at the top! Like other marijuana companies, Cronos will look to have a much better year in 2020, but does the Toronto-based pot grower have what it takes to stage a strong comeback this year? Cronos' presence in the U.S. CBD market could pay rich dividends down the road. * The Toronto Stock Exchange's TSX rises 0.15 percent to 16,304.08. "The opportunities before Cronos Group are more exciting than ever," Executive chairman Mike Gorenstein said in a press release. Company profile page for Cronos Group Inc including stock price, company news, press releases, executives, board members, and contact information Registration on or use of this site constitutes acceptance of our Terms of Service and Privacy Policy. Cronos does have a lot to prove, and until the company significantly improves its financial results, I think it's best to watch from afar. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Datadog, Cronos Group leads premarket losers' pack, Aurora Cannabis shares rise 21% on potential cannabis legalization, beats FQ1 consensus, Why Cronos Group, HEXO, OrganiGram, and Other Marijuana Stocks Soared Today, Aurora Cannabis rockets 70% higher as legal pot enthusiasm grows, Cronos Group Inc. (CRON) Q3 2020 Earnings Call Transcript, 10 Cheap Stocks to Buy in November Under $10, Marijuana Stocks Surge As Cronos Beats, Aphria Taps Brewer, Cronos Group (CRON) Reports Q3 Loss, Tops Revenue Estimates, Canadian cannabis company Cronos tops earnings estimates, stock jumps 6% premarket, Cronos shares rise 5% on solid Q3 beat; top-line +96% boosted by advancement in Canadian/Israeli market, Cronos Group Reports 2020 Third Quarter Results, Cronos Group EPS beats by $0.25, beats on revenue, Election 2020: Cannabis on the ballot in five states, Why Marijuana Stocks Like Cronos, Tilray, and HEXO Blasted Higher Today, 3 Cannabis Stocks to Buy for a Potentially Huge ‘Blue Wave’ Catalyst, Analysts Estimate Cronos Group (CRON) to Report a Decline in Earnings: What to Look Out for, Canopy Growth Is a Bet Worth Taking Before the Election, Here’s How the Coronavirus Could Benefit Canopy Growth, 7 Marijuana Stocks for an Election Day Boost, Cronos Group Inc. to Hold 2020 Third Quarter Earnings Conference Call on November 5, 2020.

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