Updated
Updated · MarketWatch · May 8Cronos Group stock slides for fourth straight day
12 articles · Updated · MarketWatch · May 8
- The shares fell 1.17% to $2.54 on Friday, lagging a broadly higher US market as the Nasdaq rose 1.71% and the Dow added 0.02%.
- Cronos ended 25.95% below its 52-week high of $3.43, reached on 15 December.
- Trading volume was about 1.2 million shares, roughly 233,436 below the stock's 50-day average of 1.4 million.
With its stock price near its cash value, is the market ignoring Cronos Group's potential or signaling a deeper problem? After a major U.S. policy shift to aid cannabis firms, why is Cronos Group's stock price continuing to fall? With nearly a billion in cash, can Cronos's international bet pay off before competitors conquer the newly reformed U.S. market?