#cronos group

Cronos Group (TSE:CRON) Trading Down 9.9%

Cronos Group Inc. (TSE:CRON) shares fell 9.9% during mid-day trading on Wednesday . The company traded as low as C$4.94 and last traded at C$5.00. 143,024 shares were traded during mid-day trading, a decline of 75% from the average session volume of 562,258 shares. The stock had previously closed at C$5.55. Separately, Barclays reaffirmed an “underweight” rating and issued a C$5.00 price…

Cannabis stocks: Major players see a pickup amid FDA warnings

The stocks of major cannabis companies appear to be picking up after seeing a drop following FDA warnings over the safety of cannabidiol (CBD) products. The FDA issued warnings to 15 companies on Monday regarding the illegal sale of CBD products as food additives or dietary supplements.

The FDA said there was insufficient evidence to back up the safety and efficacy of CBD products and…

Cronos Group (CRON) swings to profit in Q3 on strong revenue growth

Marijuana company Cronos Group Inc. (NASDAQ: CRON) reported a sharp increase in third-quarter revenues. It reported a profit for the quarter, compared to loss last year.

Total revenue more than tripped to CAD12.7 million during the quarter, mainly due to the launch of the adult-use market in Canada and the inclusion of Redwood.

Net income attributable to the company was CAD788 million or…

Will Cronos Group continue the growth streak in Q3?

Cronos Group Inc. (NASDAQ: CRON) is set to release its third-quarter earnings results on Tuesday before the market opens. The results will be benefited by the cannabis production, cannabis oil sales, cannabidiol oil, and dry flower sales while the company could experience an increase in costs and expenses due to R&D and investments in production.

The company is likely to turn beneficial from…

Altria’s plans might not be panning out but here’s why the company will be fine

On the face of it, it would seem Altria’s (NYSE: MO) recent plans have not exactly been panning out. Today the company announced that it has dropped merger talks with Philip Morris International (PMI) (NYSE: PM). The deal would have reunited the two firms after over a decade since the 2008 spinoff, but despite the potential for revenue and cost synergies, an agreement could not be reached.

Al…

Cronos’ Q2 revenue jumps 200%

Cronos Group Inc. (NASDAQ: CRON) reported total revenue of CAD10.2 million for the second quarter of 2019, up 202% from the same period last year.

Net income was CAD250 million, or CAD0.22 per share, compared to CAD0.76 million, or CAD0.00 per share, last year.

Cash and cash equivalents totaled CAD1.57 billion at the end of the quarter.

(This story will be updated shortly)

Earnings preview: Cronos could see momentum in Q2

Cronos Group Inc. (NASDAQ: CRON) is scheduled to report second quarter 2019 earnings results on Thursday, August 8, before market open. Analysts expect the company to report a loss of $0.02 per share on revenue of $5.6 million.

The cannabis industry hit a rough patch in the past few months with companies delivering weak earnings and facing bad press over violations and warnings. However,…