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Aug. 9, 2022, 8:19 a.m. EDT

Cronos Group posts narrower loss but misses revenue target

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By Steve Gelsi

Cronos Group Inc. /zigman2/quotes/206842762/composite CRON +3.90% /zigman2/quotes/202715342/delayed CA:CRON +3.62% shares fell 8% in premarket trades Tuesday after the cannabis company posted a narrower-than-expected loss, although its revenue fell short of estimates. Cronos Group said it lost $44.6 million, or 5 cents a share in its second quarter, compared with a loss of $165.49 million, or 48 cents a share, in the year-ago period. Net revenue climbed to $23.06 million from $15.62 million. Analysts expected Cronos Group to lose 6 cents a share on revenue of $28 million, according to a survey by FactSet. Prior to Tuesday's trades, shares of Cronos Group are down 8.7%, compared to a drop of 51.7% by the Cannabis ETF /zigman2/quotes/213173823/composite THCX +3.61% and a 19.2% drop by the Nasdaq /zigman2/quotes/210598365/realtime COMP +2.27% .

/zigman2/quotes/206842762/composite
US : U.S.: Nasdaq
$ 2.93
+0.11 +3.90%
Volume: 1.11M
Oct. 3, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.06 billion
Rev. per Employee
$150,153
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/zigman2/quotes/202715342/delayed
CA : Canada: Toronto
$ 4.01
+0.14 +3.62%
Volume: 195,277
Oct. 3, 2022 4:17p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.46 billion
Rev. per Employee
$190,105
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/zigman2/quotes/213173823/composite
US : U.S.: NYSE Arca
$ 2.87
+0.10 +3.61%
Volume: 27,421
Oct. 3, 2022 4:00p
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/zigman2/quotes/210598365/realtime
US : Nasdaq
10,815.43
+239.82 +2.27%
Volume: 4.46B
Oct. 3, 2022 5:16p
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