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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 -1.67% 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 -2.36% .

US : U.S.: Nasdaq
$ 1.77
-0.03 -1.67%
Volume: 905,612
May 26, 2023 4:00p
P/E Ratio
Dividend Yield
Market Cap
$664.33 million
Rev. per Employee
US : U.S.: NYSE Arca
$ 5.37
-0.13 -2.36%
Volume: 638,351
May 26, 2023 4:00p

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