10:30:44 EDT Tue 22 Sep 2020
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save

Cannabis Summary for Feb. 24, 2020

2020-02-24 19:14 ET - Market Summary

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

Amidst a broad market decline, The S&P/TSX Cannabis Index fell 10.94 points to 175.92 Monday, while the Canadian Securities Exchange Composite Index dropped 16.49 points to 374.59. Cronos Group Inc. (CRON) sunk 95 cents to $8.49 on 2.48 million shares after the company delayed the release of its fiscal 2019 results, which had been scheduled for Thursday, Feb. 27. The delay seemed to provoke some anxiety from shareholders, particularly because Cronos (1) did not say why there had been a delay; and (2) did not say when it would release the results instead.

Cronos Group made headlines in December, 2018, when it received a $2.4-billion investment from tobacco giant Altria Group Inc. The cannabis producer rose from $13.51 to a high of $32.95 in the next two months (albeit during good times for the cannabis industry). Since then, it has been all downhill for Cronos, falling to today's closing price of $8.49, which is not far off the company's 52-week low of $7.97.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS

© 2020 Canjex Publishing Ltd. All rights reserved.


Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.