Motely Fool Article Says Aurora Has Overtaken Cronos As Wall St’s Most “Hated” Cannabis Stock

Motely Fool Article Says Aurora Has Overtaken Cronos As Wall St’s Most “Hated” Cannabis Stock

Here’s what they are saying This was Wall Street’s most-hated cannabis stock in 2019 For much of 2019, Cronos Group (NASDAQ:CRON) proved to be Wall Street’s most-hated pot stock. At one time last year, Cronos had four Wall Street ratings that were the equivalent of a sell. On one hand, Cronos garnered a lot of attention after snagging a $1.8 billion equity investment from Altria Group, which closed in March. It had less than $25 million in cash and cash equivalents on its balance sheet prior to the closing of this deal, meaning that Cronos essentially put any sort of cash concerns in the rearview mirror by completing this equity investment. Since closing its deal, Cronos has made one notable acquisition — a $300 million deal to buy Redwood Holdings, the owner of the Lord Jones brand of CBD-infused beauty products. However, Cronos’ stock more than doubled in a span of two months between December 2018 and February 2019 and it didn’t sit well with Wall Street — especially considering the supply issues Canada was contending with. Noting that Cronos was significantly behind its peers in the production and sales departments, most Wall Street firms tempered their expectations for the company or flat-out rated it as a…

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Source : CANNANNEW REPORT
Link to original : Motely Fool Article Says Aurora Has Overtaken Cronos As Wall St’s Most “Hated” Cannabis Stock
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