Cannabis stock report: Big tobacco saves Cronos; Aphria plummets as short-seller shenanigans continue

Still reeling from the Aphria debacle the North American Marijuana Index fell nearly 15 points on Tuesday, with Cronos Group Inc. (NASDAQ:CRON) (TSX:CRON) being the one bright spot, as news emerged that Marlboro-maker Altria Group may acquire the pot company to diversify. According to CNBC, a potential deal is still in its early stages, with nothing as of yet agreed upon and no certainty that it will be.

Altria is also in talks to assume a minority stake in e-cigarette producer Juul, a deal which could have a significant impact on any potential acquisition of Cronos. Juul has quickly become one of the most popular e-cigarette brands on the market today, worth over $15 billion.

While Altria did not respond to reporter’s requests for comment, Cronos did put out a brief statement addressing the matter.

[Aphria shares plummet as short-sellers have investors doubting Vic Neufeld]

“Cronos Group Inc. today

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