16:24:51 EDT Mon 20 May 2019
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Cronos Group Inc
Symbol C : CRON
Shares Issued 178,720,022
Close 2019-02-04 C$ 30.57
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FP/wire say Cronos, rivals hear ads a hard sell in U.S.

2019-02-04 08:55 ET - In the News

Also In the News (C-ACB) Aurora Cannabis Inc
Also In the News (C-APHA) Aphria Inc
Also In the News (C-HEXO) Hexo Corp
Also In the News (C-OGI) Organigram Holdings Inc
Also In the News (C-WEED) Canopy Growth Corp

The Financial Post reports in its Monday edition that marijuana is still a Schedule 1 drug in the United States, which makes it hard to advertise. A Bloomberg dispatch to the Post reports that with a growing number of states legalizing weed for recreational and medical purposes, the U.S. market could surge eight-fold to $80-billion (U.S.) in sales by 2030, according to Cowen & Co. It is hard, however, to see that happening unless companies can market their wares the way beer and liquor companies do. After decades of prohibition, many consumers need a push to give marijuana a try. CMW Media operator Kyle Porter says: "The public has a stigmatized view of the product but legitimate business owners can't reach them -- it creates mistrust. We're really limited in how we can reach customers." For several years, marijuana companies have considered Instagram an ideal place to build their brands. Instagram, however, does not let weed sellers advertise. It allows "marijuana advocacy content," but posts promoting the sale of cannabis are verboten. Dispensaries are prohibited from providing contact information, including phone numbers and street addresses, "regardless of state or country."

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