CRON - Up 20% Over a Few Days Is Cronos a Stock You Can Count On?
Cronos Group (NASDAQ: CRON) was once a prominent cannabis grower that has seen its fortune slide downhill since early 2019. Its strategy of focusing on research & development and selling cannabidiol (CBD) did not work out well in an industry dominated by high-concentration THC brands. (For those not aware, CBD is the second most prevalent active ingredient in cannabis after THC.)
However, its shares were up over 20% at one point over the past week, though it gave up some of those gains and is still up 11%, as investors realized the potential for Cronos to acquire a better-shaped cannabis company to help polish up its financials. Is this a stock you can count on ?
Image source: Getty Images.
For further details see:
Up 20% Over a Few Days, Is Cronos a Stock You Can Count On?