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Why Cronos Group Is Plunging Today

TheMotleyFool

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Shares of Cronos Group (NASDAQ: CRON) are tumbling 16.5% in morning trading Tuesday after the Canadian marijuana company filed a form 12b-25 with the Securities and Exchange Commission saying it would be unable to file its quarterly earnings report on time.

Cronos said it needs more time to figure out just how big of an impairment charge it's going to take on its cannabidiol (CBD) business, but it's going to take a hit of at least $220 million to its goodwill and intangible assets.

Image source: Getty Images.

Source Fool.com

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