#6 - Cronos Group (NASDAQ:CRON)
Cronos Group (NASDAQ: CRON) - Cronos is one of the more polarizing stocks among pure cannabis plays. Investors cheered the announcement that Altria was making a $1.8 billion investment in Cronos. This would give Altria a path to bring cannabis products to market at a time when it's hard to find innovation in the tobacco space. Cronos has also recently completed its 850,000-square foot GrowCo facility which will allow an annual output of 70,000 kilograms at full capacity. This will make the company one of the largest producers in Canada. And Cronos is trying to diversify its product portfolio that will allow them to develop yeast strains that may be capable of producing cannabinoids on a commercial scale. Cronos is not without risk. The company is not as well-known as its peers and with Canada legalizing marijuana for recreational use, the pressure will be on Cronos to show an actual profit, not just promises. Cronos has a significant amount of cash to work with so there’s little downside risk in the stock. The question for investors will be if you believe in the company’s potential valuation. Like a lot of things in the marijuana industry, that is unclear, but at less than $14 per share, the stock offers more upside than some other cannabis stocks.
About Cronos Group
Cronos Group Inc operates as a cannabinoid company that engages in the cultivation, production and marketing of cannabis products in Canada, Israel, and Germany. It offers dried flower, pre-rolls, oils, vaporizers, edibles, and cannabis tinctures under the Spinach, Lord Jones, and PEACE NATURALS brands.
Read More - Current Price
- $2.09
- Consensus Rating
- Sell
- Ratings Breakdown
- 0 Buy Ratings, 0 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $3.00 (43.5% Upside)
