3 Details in Cronos Group's Q2 Results That Impact All Canadian Cannabis Stocks
Cronos Group (NASDAQ: CRON) didn't fire up investors the last time it reported quarterly results in May. But the cannabis producer announced its second-quarter results before the market opened on Thursday. This time around, there were several things for investors to like.
The company reported net revenue in Q2 of 10.2 million Canadian dollars, more than tripling its revenue in the prior-year period. Cronos even posted a profit of nearly CA$251 million. As you might expect with a profit that's higher than revenue, though, there's a catch. That big earnings figure stemmed from a CA$263.9 million gain on revaluation of warrants owned by tobacco giant Altria.
Perhaps the most interesting thing about Cronos Group's Q2 results were the implications for the rest of the cannabis industry. Here are three details in Cronos' latest quarterly update that impact all of the other Canadian cannabis stocks.
Source Fool.com
