Is Cronos Group Stock a Buy?
Like all Canadian pot stocks, Cronos Group (NASDAQ: CRON) has had a forgettable 2019. Despite starting the year off on a high note, Cronos' stock has now lost a third of its value this year. The unrealistic expectations of marijuana investors heading into the year coupled with the painfully slow development of the legal cannabis market in Canada have caused valuations to crater over the back half of 2019. What's more, several American and Canadian pot companies have gotten caught engaging in rather questionable behavior this year, which has eroded investor confidence even further.
All of this doom and gloom, though, may be nearing an abrupt end. Yesterday, a House Judiciary Committee in the U.S. green-lit a bill that would effectively legalize marijuana at the federal level by removing it from the Controlled Substances Act.
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Source Fool.com
