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Do You Own These Cannabis Stocks?

Cronos Group
Cronos Group

Canada-based Cronos Group Inc is a global cannabinoid company with international production and distribution across five continents.

The Company’s shares are listed on the Nasdaq Global Market under symbol “CRON” and on the Toronto Stock Exchange under symbol “CRON.TO”.

Last December, tobacco giant Altria (MO) made a C$2.4 billion investment in Cronos to acquire 45% interest in the company. Altria also has a warrant to acquire additional ownership in Cronos. Should the warrant be exercised, Altria’s ownership in Cronos Group would increase to approximately 55% and provide Cronos with an additional C$1.4 billion.

For the fourth quarter ended December 31, 2018, Cronos reported net revenues of C$5.6 million compared to C$1.6 million for the fourth quarter 2017.

The Company is slated to announce its financial results for the first quarter ended March 31, 2019, on May 9, 2019.

Based on yesterday’s (Apr.29, 2019) closing price of $17.01, CRON is up nearly 66% year-to-date on the NASDAQ.

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