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May 10, 2022, 2:57 p.m. EDT

Cronos shares rally as investors cheer latest results

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By Steve Gelsi

Cronos Group Inc. /zigman2/quotes/206842762/composite CRON +4.99% shares jumped 14% on Tuesday after the cannabis company's first-quarter revenue of $25 million beat the analyst estimate by $1 million. Raymond James analyst Rahul Sarugaser reiterated an outperform rating on the stock and said Cronos also reported a better-than-expected adjusted Ebitda loss of $18.9 million, against a target for an adjusted Ebitda loss of $27.5 million. Cronos Group's "strong Canadian sales and robust, high-margin medical sales in Israel" fueled its results, Sarugaser said. Including Tuesday's gain, Cronos shares are down 16.6% so far this year, compared to a loss of 47% by the AdvisorShares Pure U.S. Cannabis ETF /zigman2/quotes/220307682/composite MSOS +0.94% .

US : U.S.: Nasdaq
$ 3.58
+0.17 +4.99%
Volume: 2.69M
Aug. 8, 2022 4:00p
P/E Ratio
Dividend Yield
Market Cap
$1.28 billion
Rev. per Employee
US : U.S.: NYSE Arca
$ 11.84
+0.11 +0.94%
Volume: 1.21M
Aug. 8, 2022 4:00p

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