Geometry Dash APK Hill Climb Racing APK
39.2 F
New York
Monday, January 17, 2022

Cronos Group (NASDAQ:CRON) is Picking Up Momentum Ahead of Q4 Results

Must read

Humbl Inc (OTCMKTS:TSNPD) Bounces Back and Lands On The Radar

Over the course of the past months, Humbl Inc (OTCMKTS:TSNPD) stock has managed to record massive gains and much of that has...

Alpine 4 Technologies Ltd (OTCMKTS:ALPP) Looks to Maintain Critical Momentum

Stocks that make massive gains over a reasonable period of time cannot hope to maintain them forever. At some point, a correction...

Green Thumb Industries Inc (OTCMKTS:GTBIF) Trades Near All-Time High: What Next?

After having been in the dumps for more than a year, the cannabis sector has managed to make a remarkable comeback. Investors...

VIVO Cannabis Inc (OTCMKTS:VVCIF) Stock Turns Volatile: Uptrend in Jeopardy

Anyone watching the market knows the cannabis sector has been booming again. Since the start of the year, the cannabis sector has...

Despite the troubles that most cannabis companies went through last year, some companies look well placed to rebound strongly in 2020, and one such company could be Cronos Group (TSX:CRON) (NASDAQ:CRON).

The company is all set to announce its fourth-quarter results and the full-year results for 2019 on February 27. The results are going to be declared before the opening of the markets, and hence, it could create a lot of excitement among investors tracking the stock. 

Momentum Building as Q4 Results Near

Key Expectations 

Analysts believe that there could be a lot of positives for the company in the earnings call, and hence, it is perhaps necessary to take a closer look.

At this point in time, cannabis companies that have tied up with big-ticket firms are well-positioned to grow, and in that regard, Cronos group is covered. In 2018, tobacco giant Altria invested $1.8 billion in the company and picked up a 45% stake, and that partnership could well be the key to the company’s future.

Considering the fact that Altria’s investment in the e-cigarette company has cratered significantly, experts believe that the company could pour more money into Cronos in order to turn it into a winner. 

On the other hand, analyst Rahul Sarugaser of the firm Raymond James has stated that there is much more to Cronos Group than what meets the eye. He mentioned that the company’s decision to move into the United States CBD space and its relationship with Altria is expected to be two important factors in Cronos’ growth. That being said, Sarugaser also stated that the company would only start showing benefits of cannabis derivatives legalization in the latter half of this year.

He went on to state that ‘strong, fiscally prudent’ cannabis companies are all set for a rebound this year, and Cronos is certainly one of those companies. 

The company currently has $2 billion in cash reserves, and that could prove to be a major factor in its expansion this year. He gave the stock a buy rating and set the target price at $9.03, which reflects gains of 31% in 12 months.  Sign-up below for continuing coverage on shares of $CRON stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Latest article

iQSTEL Inc (OTCMKTS:IQST) Stock Makes a Big Move: Jumps 45% In a Week

In the past week, iQSTEL Inc (OTCMKTS: IQST) has emerged as a point of focus among a large number of investors and...

HUMBL Inc (OTCMKTS:HMBL) Stock Sees Big Bounce After Recent Slump

Since the beginning of 2021, HUMBL Inc (OTCMKTS:HMBL) had been one of the major movers from among penny stocks and had come into...

Dividend Stocks to Buy Now

A classic mistake that investors make when looking for dividend stocks is to just go for the biggest dividend yield. It makes...

88 Energy Ltd (OTCMKTS:EEENF) Stock Surges 40% But Can’t Hold Gains

The oil and gas company 88 Energy Ltd (OTCMKTS:EEENF) seems to have come back on to the radars of investors over the...

Net Savings Link Inc (OTCMKTS:NSAV) Stock is Getting Pummeled Again

Nowadays there are plenty of options for investors when it comes to making investments in the cryptocurrency and...
Şehirler arası nakliyat ve Şehirler arası taşımacılık konusunda en uygun fiyatlar ve en kaliteli hizmet.
ofis taşıma firmaları ve ofis taşıma konusunda en uygun fiyatlar ve en kaliteli hizmet.
SmsVerifyer.com Affordable best sms verification service