Cronos Group (NASDAQ:CRON) just can’t seem to catch a break. Shares of the Canadian cannabis producer have tumbled about 33% since Altria Group (NYSE:MO) gave the company CA$2.4 billion just a couple of months ago.
Cronos Group’s first-quarter performance was disappointing, but the period ended before Altria had a chance to make a difference.
Did Altria make a huge mistake, or is Cronos stock a buy on the dip? Here’s what you need to know about the path ahead of the tobacco giant’s enormous investment.
Reasons to buy
Cronos Group gained a new chief financial officer in April, along with four new board members courtesy of Altria. Cronos Group’s former CFO will remain as the company’s first chief commercial officer.
Cannabis investors across the board need to worry about corporate governance issues, but Cronos shareholders can probably expect fewer https://www.fool.com/investing/2019/05/12/is-cronos-group-a-buy-on-the-dip.aspx