Why Cronos Group Stock Popped 9% Today

Cronos Group (NASDAQ: CRON) stock jumped 9.4% through 11:30 a.m. ET Tuesday after beating Wall Street forecasts for Q3 earnings this morning.Heading into the report, analysts expected Cronos to do $24.8 million in sales in Q3, and to lose money -- $0.01 per share. Cronos delivered positive surprises on both the top and bottom lines, however, with sales approaching $34.3 million and a profit of $0.02 per share. Sales surged 38% year over year at the Canadian cannabis company, and Cronos noted that its "Spinach" brand of marijuana is now the No. 1 recreational cannabis brand in Canada. In medical marijuana, Cronos' "Peace Naturals" brand tops the market for that product in Israel -- and CEO Mike Gorenstein predicts even more gains as international demand ... in markets like Germany, the U.K., and Australia ... continues to rise."Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool