Cronos Group (TSE:CRON) Stock Price Up 9% - Here's Why

Cronos Group Inc. (TSE:CRON - Get Free Report)'s stock price shot up 9% during mid-day trading on Wednesday . The stock traded as high as C$2.91 and last traded at C$2.91. 73,241 shares were traded during trading, a decline of 30% from the average session volume of 104,087 shares. The stock had previously closed at C$2.67.

Cronos Group Price Performance

The stock has a 50-day simple moving average of C$2.81 and a 200 day simple moving average of C$2.96. The company has a current ratio of 28.29, a quick ratio of 24.01 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of C$1.06 billion, a price-to-earnings ratio of -13.24, a price-to-earnings-growth ratio of 0.12 and a beta of 1.02.

Cronos Group Company Profile

Cronos Group, headquartered in Toronto, Canada cultivates and sells medicinal and recreational cannabis through its medicinal brand, Peace Naturals, and its two recreational brands, Cove and Spinach. Although it primarily operates in Canada, Cronos exports medical cannabis to Poland and Germany. In addition, it has entered joint ventures in Israel, Colombia, and Australia to drive further international cultivation and distribution growth.