Why Cronos Group Jumped 49.3% in January
Shares of Cronos Group (NASDAQ: CRON) rose 49.3% in January, according to data provided by S&P Global Market Intelligence, as investors looked to the U.S. Senate runoff elections in Georgia that kicked off the new year, hoping the outcome would signal a better chance for marijuana legalization.
While a growing number of states have legalized marijuana, it remains a Schedule I drug at the federal level, on par with heroin, LSD, and ecstasy. The classification is an impediment to recreational use as well as broad adoption of marijuana- or cannabidiol-based foods and beverages.
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Source Fool.com
