Why Cronos Group Stock Slumped 14% in December
Shares of Cronos Group (NASDAQ: CRON) slumped 14% in December, according to data provided by S&P Global Market Intelligence. The cannabis producer got dragged down by the broad market sell-off in cannabis stocks last month and has yet to file its third-quarter report with the U.S. Securities and Exchange Commission (SEC).
Cronos Group has put out some surprising announcements recently, starting in November when it stated that it would be unable to file its 10-Q quarterly report on time with the SEC for the period ending in September 2021. For a company that has been public for over five years, this is unusual behavior and may have investors nervous that something is amiss at Cronos Group, or that its past financial results may not be correct. Even seven days into the new year, Cronos Group has still not filed its third-quarter 10-Q, which was due in November.
Image source: Getty Images.
Source Fool.com
