Follow the Money in Pot Stocks - Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) Gains on Record Quarterly Net Revenue

May 9, 2024 (Investorideas.com Newswire) Investorideas.com, a go-to platform for big investing ideas, reports on trading for Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON), an innovative global cannabinoid company committed to building disruptive intellectual property by advancing cannabis research, technology and product development.

Cronos Group Inc is trading up on news today, currently trading at $3.9700, up 0.4000, gaining 11.2045% on the TSX, with a high of $3.98. The stock is trading at $2.9050, gaining 12.60% on the NASDAQ.

Cronos announced today its 2024 first quarter business results.

"Cronos achieved its highest quarterly net revenue from continuing operations on record at $25.3 million, up 30% year-over-year. The top line was propelled by 31% growth year-over-year in Canada, and 27% growth year-over-year in Israel. Cronos' strong first quarter results are a testament to our global team's commitment to excellence, innovation and their ability to adapt to changing market conditions," said Mike Gorenstein, Chairman, President and CEO, Cronos.

"We continue to bring new innovations to Canada across our Spinach® and Lord Jones® brands, which are helping to drive market share gains," continued Mr. Gorenstein. "Spinach® is the number two overall brand in Canada, driven by top three positions in the edibles, vape, and flower categories. Innovations under the Spinach® brand include the SOURZ by Spinach® Fully Blasted edibles and new flavor-forward vapes. Under Lord Jones®, although these are early days, sales across the vape, edible and pre-roll categories are gaining momentum and we are very excited to see the growth in this brand since we re-introduced it to the THC category in Canada. In Israel, following a challenging fourth quarter, our team there responded with incredible resilience, driving a substantial sequential improvement in performance. We continue to focus on bringing our leading cannabis genetics to Israel, with top-performing flower products such as Wedding Cake and GMO, under the PEACE NATURALS® brand, winning with consumers. We remain steadfastly focused on building the world's best borderless products to take advantage of any new markets that open."

News:

https://ca.finance.yahoo.com/news/cronos-group-reports-2024-first-113000029.html

Research more cannabis stocks with Investorideas.com free stock directory

https://www.investorideas.com/Marijuana-Stocks/Stocks_List.asp#google_vignette

About Investorideas.com - Big Investing Ideas

Investorideas.com is the go-to platform for big investing ideas. From breaking stock news to top-rated investing podcasts, we cover it all. Our original branded content includes podcasts such as Exploring Mining, Cleantech, Crypto Corner, Cannabis News, and the AI Eye. We also create free investor stock directories for sectors including mining, crypto, renewable energy, gaming, biotech, tech, sports and more. Public companies within the sectors we cover can use our news publishing and content creation services to help tell their story to interested investors. Paid content is always disclosed.

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp This content was not AI generated.

Follow us on Twitter @investorideas

Follow us on Facebook https://www.facebook.com/Investorideas

Follow us on YouTube https://www.youtube.com/c/Investorideas

Contact Investorideas.com

Dawn Van Zant and Cali Van Zant

800 665 0411