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Why Cronos Group Stock Plunged Today

TheMotleyFool

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Shares of Cronos Group (NASDAQ: CRON) sank 15.9% on Thursday, following the marijuana producer's disappointing second-quarter results.

Cronos Group's net revenue climbed 29% year over year to $9.9 million. The gains were driven by the launch of cannabis vaporizers in Canada, as well as sales of Lord Jones cannabidiol (CBD) products, a brand Cronos acquired in September. Still, these results fell short of analysts' estimates, which had called for revenue of $12.7 million.

Cronos Group's stock plummeted on Thursday. Image source: Getty Images.

Source Fool.com

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