Cronos Group: Flush With Cash And Trading Below Book Value
Cronos Group(CRON) Seeking Alpha·2024-02-11 16:25
Helder Faria/Moment via Getty Images Cronos Group (NASDAQ:CRON) is flush with cash just as market enthusiasm builds around a potential decision by the Drug Enforcement Administration to move cannabis to a significantly less restrictive schedule, a move that would likely catalyze a broad market rally. The roughly $800 million market cap firm held cash, cash equivalents, and short-term investments of $840 million at the end of its fiscal 2023 third quarter. This is just over 100% of its market cap and is ...