Investor Alert

New York Markets After Hours

Market Pulse Archives

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

Cronos shares rally as investors cheer latest results

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Cronos Group Inc. (CRON)
  • X
    AdvisorShares Pure US Cannabis ETF (MSOS)

or Cancel Already have a watchlist? Log In

By Steve Gelsi

Cronos Group Inc. /zigman2/quotes/206842762/composite CRON +1.35% 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 +1.54% .

US : U.S.: Nasdaq
$ 3.01
+0.04 +1.35%
Volume: 1.77M
July 6, 2022 4:00p
P/E Ratio
Dividend Yield
Market Cap
$1.12 billion
Rev. per Employee
US : U.S.: NYSE Arca
$ 11.18
+0.17 +1.54%
Volume: 1.34M
July 6, 2022 4:00p

Get news alerts on Cronos Group Inc. — or create your own.
This Story has 0 Comments
Be the first to comment
More News In

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.