Wall Street analysts expect Cronos' revenue to have grown by more than 500% over the past year.Cronos was up almost 9% Monday, one day ahead of its fourth-quarter earnings report. The cannabis producer has been one of the strongest performers on the Nasdaq sinceExpectations for the quarter are high, with analysts surveyed by Bloomberg forecasting revenue growth of more than 500% for the quarter to $10.8 million.
"Altria is the ideal partner for Cronos Group, providing the resources and expertise we need to meaningfully accelerate our strategic growth," said Cronos CEO Mike Gorenstein at the time of the investment.in February 2018, paving the way for publicly traded rivals Canopy Growth and Aurora Cannabis. Cronos previously traded in Canada.
Founded in 2013, Cronos Group owns and operates brands in the business of marijuana cultivation and distribution. It owns 100% of both Peace Naturals and Original BC, which are licensed to grow and sell medical marijuana.
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