|Bid||20.75 x 0|
|Ask||20.77 x 0|
|Day's Range||20.49 - 21.71|
|52 Week Range||7.33 - 32.95|
|Beta (3Y Monthly)||4.70|
|PE Ratio (TTM)||37.34|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||14.55|
Cronos Group: Analysts' Ratings and Target Price Update(Continued from Prior Part)Cronos GroupCronos Group (CRON) has been trading at a significant premium to the peer average in May—a continuation of the trend over the past several months. The
Cronos Group: Analysts' Ratings and Target Price UpdateCronos Group’s ratingsCronos Group (CRON) has experienced an increase in the number of analysts covering the stock. Six analysts covered the stock at the beginning of the year—compared to
Why Canopy Growth Is on the Rise Today(Continued from Prior Part)Cannabis sectorThe cannabis sector has been struggling to find direction on May 22, with cannabis stocks trading on a largely mixed note in the first half. During the first half of the
How Do Cannabis Stocks' Valuations Stack Up in May?(Continued from Prior Part)Cronos GroupCronos Group (CRON) saw a big spike in its forward EV-to-EBITDA valuation multiple compared to its historical average as shown in the chart below. The company
How Do Cannabis Stocks' Valuations Stack Up in May?(Continued from Prior Part)Investing in the cannabis sectorThe cannabis sector has had its ups and downs in the past month. The trend has mostly been flat to downwards-trending for most of the
Jim Cramer turns to the charts to reveal that cannabis companies like GW Pharmaceuticals and Village Farms could be good additions to your portfolio.
Based on its peers' results, Canopy Growth could be in for a pretty good quarter.
It's been a long, strange trip for pot stocks, and it could get stranger. Here's all you need to know about the marijuana industry and the major players in it.
The Wisconsin Retirement System, one of only two fully funded state pensions, also slashed its holdings in PG&E, the struggling California utility, last quarter.
Are marijuana stocks on U.S. exchanges a good buy now? The marijuana industry gets a lot of hype, but look past the smoke and analyze pot stocks on their fundamentals and technicals.
Wall Street has handed out not one, two, or three... but seven price-target cuts to this marijuana stock since the month began.
Last week, Cronos (CRON) reported earnings for Q1’19, which just like previous earnings, were not received well by the market. With CRON now down about 35% from highs in early March, investors might be asking if it is worth holding the bag on CRON. The answer is no.Cronos’s Q1’19 net revenues of C$6.5M represented a mere C$0.9M increase from the quarter prior (C$5.6M for Q4’18). Neither the amount of revenues reported by CRON nor the quarter-over-quarter growth provide any justification for the current enterprise value of approximately C$4B. While CRON’s cash of C$2.4B brought in via the Altria investment provide the company with plenty of ability to expand, the management team at Cronos don’t appear to be taking advantage of that possibility.Cronos Continues to Botch the Launch of Recreational CannabisCronos’s MD&A from Q3’18 noted that it was selling its recreational cannabis products to cannabis control authorities in Ontario, British Columbia, Nova Scotia and Prince Edward Island. Heading into Q4’18 and the legalization of recreational cannabis this seemed pretty poor coverage of Canada relative to its peers like Canopy Growth Corporation (CGC), Aurora Cannabis (ACB), Tilray (TLRY) and Aphria (APHA).Cronos had another quarter to get things right, however, it did miss out on the launch of recreational cannabis. Unfortunately, with regards to selling recreational cannabis products, the addition of sales to private retailers in Saskatchewan was the only update to the MD&A for Q4’18. Unsurprisingly, this corresponded to only minimal revenue growth (C$0.9M) for Q1’19.With Q1’19 Cronos had yet another chance to get things right and ink supply agreements regarding its recreational cannabis products with new provinces. Alarmingly, Cronos doesn’t even appear to have a modest update on this front, the MD&A for Q1’19 doesn’t note any new territories or provinces where the company is selling its recreational cannabis products. What do investors think Q2’19 revenues will look like based on this? Cronos still does not appear to be in the two provinces where retail sales of recreational cannabis are now highest, Alberta and Quebec.Revenues from Israel Aren’t Close EnoughA substantial amount of excitement surrounds Cronos’s operations in Israel. Cronos Israel is actually a joint venture, it isn’t wholly-owned. Cronos is however entitled to 90% of the net income from Cronos Israel, but it doesn’t appear that sizable revenues are set to come from that venture in Q2’19. The Q1’19 MD&A notes that construction of a 45,000 square foot greenhouse which represents the first phase in Cronos Israel’s expansion is only set to complete in the first half of 2019. Indeed, this construction did not appear to be complete at the time of Q1’19 earnings this May. It seems highly improbable that cultivation could commence in time to produce any meaningful amount of crop for processing and sale in the remainder of Q2’19. Further, Cronos notes that while it does plan to export medical cannabis products from Cronos Israel, this is subject to obtaining all the necessary licenses and permits, something that also does not yet appear to have occurred.Bottom LineWith lackluster sales casting a shadow over the cannabis business, Cronos stock has struggled recently. While the company still has potential in the future, it seems Q2’19 will look a lot like Q1’19 and Q4’18 -- two performances the market did not applaud. It seems unwise to hang around for a third performance.To read more on the nitty gritty of what’s going on in the rising cannabis industry, click here. Read more: Cronos Stock Still Looks Overvalued More recent articles from Smarter Analyst: * Trump's Trade War Hits U.S. Tech Companies from California to North Carolina * Trade Tensions Bring Down Micron (MU) Stock, But Cascend Is Still Bullish * Amazon (AMZN) Stock Poised for Continued Growth; Here’s Why * Evercore ISI Weighs in on Qualcomm (QCOM) in Light of Legal Setback
The advocacy group Smart Approaches to Marijuana (SAM) is pushing for a middle road approach, aiming for decriminalization without risking any unintended consequences of full legalization.
MediPharm Labs Corp. (TSXV: LABS)(OTC: MEDIF ) has agreed to a multi-year supply deal with Cronos Group Inc. (NASDAQ: CRON ). What To Know Per the deal, MediPharm will supply Cronos Group's wholly-owned ...
MediPharm will supply Cronos with about $30 million of high-quality private label cannabis concentrate over the next 18 months. Cronos will also use MediPharm Labs' extraction facility in Ontario to fulfill certain processing needs under a separate agreement. "As the industry develops and matures, we see opportunity to work with companies like MediPharm Labs that provide specialized, high-quality services and inputs for our products," said Mike Gorenstein, CEO of Cronos Group.
MediPharm Labs Corp. (LABS.V) (MEDIF) (“MediPharm Labs”) a leader in specialized, research-driven cannabis extraction and cannabinoid isolation, is pleased to announce that it has entered into a multi-year supply agreement with Cronos Group Inc. (CRON) (CRON) (“Cronos Group”). MediPharm Labs will supply Cronos Group with approximately $30 million of high-quality private label cannabis concentrate over 18-months, and, subject to certain renewal and purchase options, potentially up to $60 million over 24-months. In addition, Cronos Group has selected MediPharm Labs’ state of the art extraction facility in Barrie, Ontario, as a preferred partner to fulfill certain of its processing needs, under a separate tolling arrangement.
Cronos Group Inc. (CRON.TO) (CRON.TO) (“Cronos Group” or the “Company”), is pleased to announce that it has entered into a multi-year supply agreement with MediPharm Labs Corp. (LABS.V) (MEDIF) (“MediPharm Labs”). MediPharm Labs will supply Cronos Group with approximately $30 million of high-quality private label cannabis concentrate over 18-months, and, subject to certain renewal and purchase options, potentially up to $60 million over 24-months.
Cannabis cultivation requires enormous amounts of energy, and water, and the companies that employ smart solutions are now pulling ahead in the highly competitive cannabis boom
The Market Is Sinking and Taking the Cannabis Sector Along(Continued from Prior Part)Cronos declinesCronos Group (CRON) underwent a deep selloff after it reported its earnings last week, and it lost another 7% during the day. See Cronos Group: