![]() ![]() But it seems like the precious metal is set for another strong rally. Gold has been sideways to lower in the recent past. The upside for CRON stock might have just begun.Īs inflation accelerates, it makes sense to consider exposure to precious metals. Overall, Cronos Group is still at an early growth stage and the global cannabis market seems to be nearing an inflection point. Further advancement in the field of medicinal cannabis can be a game changer for the company. It’s worth noting that Cronos is also pursuing pre-clinical research partnership for treatment that includes acne, psoriasis and wound healing. As the global legal cannabis market gains traction, Cronos is well positioned to benefit. Therefore, the company has regional as well as product diversification. With these brands, the company already has presence in the United States, Canada, Germany, Australia and Israel. With the backing of Altria (NYSE: MO), navigating an extended phase of cash burn is not a concern.Ĭronos has an extensive brand portfolio that caters to wellness, mass market, adult premium and mainstream adult products. If strong revenue growth sustains, CRON stock is positioned for further upside. In the near-term, I don’t see cash burn as a red flag. However, the company’s operating loss widened to $179 million. In the last six months, the stock has trended higher by 63% and it seems that the positive momentum will sustain.įor fiscal year 2020, Cronos reported revenue growth of 97% on a year-over-year basis to $46.7 million. With cannabis stocks springing back to life, CRON stock is an attractive name among stocks to buy.
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