Cronos Group is a leading global cannabinoid company focused on the research, development, and production of smoked and non-smoked cannabis products
The company operates multiple brands and offers a wide range of cannabis-based products, including oils, capsules, and edibles, catering to both medicinal and recreational markets. Cronos Group is committed to innovative research and development efforts aimed at advancing the cannabis industry, and it emphasizes sustainability and compliance with regulatory standards across its operations. By leveraging strategic partnerships and investments in technology, the company seeks to enhance its market presence and drive growth in the evolving landscape of cannabis consumption.
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In the third quarter, Cronos' Spinach brand became the best-selling cannabis brand in the Canadian adult-use market and their Peace Naturals brand held a top spot in the Israeli medical market.
Cronos' Q3 net revenue totaled $34.3 million, up by $9.5 million year-over-year. Q3 net income totaled $7.3 million compared to a net loss of $1.6 million in the prior year's period. The company has set an operating expense savings target of $5 to $10 million for 2024,
Our Conservative Cannabis Stocks Portfolio has outperformed our Canadian Cannabis LP Stocks Portfolio by more than a 3 to 1 margin on an annual basis. As such, our conservative cannabis portfolio is just that - a conservative cannabis investment.
The Canadian Cannabis LP Stocks Portfolio was up +6% last week from a 10% decline w/e Sept. 6th as the negative sentiment waned surrounding the DEA's announcement that it would be having a December 2nd hearing to consider additional opinions
Our LP portfolio was down 10% last week as a result of the August 26th announcement by the DEA that it had scheduled an administrative hearing for December 2nd to consider differing expert opinions on the proposal that cannabis be re-classified.
