The cannabis space is getting interesting again ahead of the legalization of edibles and other peripheral products this fall. With Aphria rocketing on an encouraging quarterly win (and creating a much-needed tailwind for other marijuana stocks in its wake), investors are eyeing the hegemony of the fledgling sector with their appetite for risk and upside renewed.
However, one stock in particular has been grabbing the attention of pot stock believers.
That stock is Cronos (TSX:CRON)(NASDAQ:CRON), and the reasons for its rise to prominence this week have been threefold. First of all, Cronos is planning to bolster its business by bringing biosynthesis into its purview. Second, it’s just announced a clever strategic acquisition. And third, Cronos has hitched a ride on the bullish sentiment floating around the pot stock world thanks to Aphria’s recent success.
Biosynthesis is a distinct cannabis investment sector
Potentially cheaper than traditional methods of cultivation, biosynthesis could form the nexus