After peaking in March, it’s been pretty much downhill for Cronos Group (CRON) stock, and yesterday was no exception.
While the stock initially jumped Thursday on the news of revenues surging 202% over last year, it eventually closed the day nearly 4% lower. The reason? The actual numbers are still quite low, and it took a while for the market to realize that.
My previous article highlighted the problem with the stock where a $5 billion market cap is mismatched with a revenue base hardly topping $10 million. The stock likely treads water for a considerable amount of time.