Cronos Group (NASDAQ:CRON) ranked as one of the top Canadian marijuana stocks of 2018. It was one of the hottest marijuana stocks last month. Even better, it stands as the best-performing marijuana stock of all time.
But Cronos is slipping. Its share price fell by a double-digit percentage during the first couple of weeks of February. Should investors consider buying this high-flying marijuana stock on the dip? Or are the good times possibly coming to an end for Cronos Group?
Why Cronos slipped
Probably the biggest reason shares pulled back was an analyst’s downgrade. GMP Securities analyst Martin Landry lowered his rating on Cronos from a buy to a hold on Feb. 5.
Does Landry think that Cronos Group’s management is making mistakes? Has Cronos Group’s production capacity been impaired? Have the company’s prospects at home in Canada or in international markets dimmed?