Why Cronos Group Stock Is Tumbling Today
Shares of Cronos Group (NASDAQ: CRON) are falling today, down 7.6% as of 11:24 a.m. EST after dropping as much as 11% earlier in the session. The decline came in the wake of the Canadian cannabis producer's announcement that it was delaying its fiscal 2019 fourth-quarter and full-year update that was previously scheduled for Feb. 27, 2020.
Cronos said that the postponement of its Q4 update stemmed from "a delay in the completion of its financial statements." That's certainly embarrassing for the company. Cronos gets to set the date for when it releases quarterly results. You'd expect that the company would be able to determine how much work is required and schedule its update accordingly.
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Source Fool.com
