While Marijuana is stepping out of her shadow of being a harmful drug the financial world is welcoming the weed stock market with open arms. Investing in marijuana has never been hotter than now as stock prices skyrocket and legalization keeps expanding. In this article, we will discuss the Cronos Group stock and keep you up to date about the current stock price, recent developments, forecast, and the latest news.
Cronos Group General Information
Cronos Group Stock Price Today
Cronos Group Stock Forecast & Predictions
In December of 2018 Cronos Group sold 45% of its shares to the great tobacco company Altria Group for $1.8 billion. Altria Group, previously known as Philip Morris Companies Inc. is operational in the business of manufacturing and selling cigarettes like Marlboro, L&M, Chesterfield, and more. Besides selling cigarettes Altria Group also sells wine in the United States.
By being in the business for decades, Altria Group has built a vast amount of experience dealing with regulatory research and law. In addition, they have great experience in logistics and a vast network of potentially useful stakeholders. We can conclude that this was a tactical move of Cronos Group in order to stay on top of their game and keep improving their processes. The inside knowledge with regard to marketing for smoking products is, of course, priceless for the further development of Cronos Group.
In order to keep paste with the rising demand for medical and recreational Marijuana Cronos Group is also aiming for expansion. In July of 2018 Cronos group, therefore, entered a joint venture partnership with the Greenhouse Partners. This is a group of investors, greenhouse operators, and greenhouse builders led by Bart Mucci. This man has over 30 years of experience in greenhouse growing and investing in innovative technologies.
With a 50/50 partnership between the two companies, they are planning on building an 850.000 square foot growing facility. The facility will be built in Kingsville Ontario and will be around 100 acres. When the facility is completely built and licensed Cronos Group expects it to produce around 70.000 kilograms of dried flower per year.
With regard to being innovative as a company, Cronos Group definitely is not behind its competition. In September of 2018 Cronos Group made a deal of $122 billion with the biotech company Ginkgo. Ginkgo Bioworks Inc. is specialized in designing custom microbes and developing new organisms that replace technology with biology. With this new partnership, Cronos and Ginkgo are working together to identify scarce cannabinoids that are present in small amounts in the cannabis plant.
Once these cannabinoids are identified they are planning on extracting these to be able to produce the cannabinoids in a lab. By doing this they want to bypass the difficult and expensive process of isolating one cannabinoid for specific purposes. If you, for example, want to use the cannabinoid THCV for its appetite suppressing effects it could be produced in the lab. Therefore it is not necessary anymore to grow a big amount of plants for a small amount of the THCV that is needed.
Cronos Group Stock Latest News
Now you know what Cronos Group has in store for their stockholders in 2019 its time to start investing. Make sure to check out our other marijuana stocks as well and start trading!
Hey guys! My name is Anthony Ellsworth and I am passionate about nature and everything it has to offer. Since I was still a kid I always felt a strong connection with nature and the urge to explore. This passion has led me to study biology later on in life and lots of exploring. Now, together with my beautiful wife Jennifer, it has become our goal to share all the knowledge that we have built up together through the years. If you have any questions or what so ever feel free to ask them anytime!