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Why Cronos Group Stock Soared Today

TheMotleyFool

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Shares of Cronos Group (NASDAQ: CRON) surged 16.7% on Thursday, following the marijuana producer's third-quarter results.

Cronos Group's net revenue rocketed 96% higher to $11.4 million. That was above analysts' estimates for revenue of $10.8 million.

The gains were fueled by sales of Lord Jones cannabidiol (CBD) products, which Cronos acquired last year. Higher recreational cannabis sales in Canada and medical marijuana sales in Israel also played a role in Cronos Group's revenue growth.

Source Fool.com

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