Cronos Group Inc (NASDAQ:CRON) shares are trading lower by 2.78% to $2.63 during Tuesday's session. Shares of cannabis stocks are trading lower in sympathy with Tilray, which fell after reporting worse-than-expected third-quarter results.
Tilray Brands Inc reported a 16.8% increase in net revenue for the third quarter ended Feb. 29, 2024, with $188.3 million in total revenue, marking a 30% year-over-year rise. The company saw significant growth in beverage-alcohol net revenue, up 165% to $54.7 million, and global cannabis net revenue increased by 33% to $63.4 million, with international cannabis growing by 44% compared to the previous year quarter.
Chairman and CEO Irwin D. Simon highlighted various accomplishments during the quarter...Read More
Is CRON A Good Stock To Buy?
An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages – like Cronos Group's page for example – there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.
These are known as capital allocation programs. Cronos Group does not pay a dividend, but obviously has a few ways it can return value to shareholders. Feel free to search Benzinga's dividend calendar for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.
For example, if you're looking to earn an annualized return of 110.75%, you'll need to buy a share of Lufax Holding by the Jun. 4, 2024. Once done, you can expect to receive a nominal payout of $2.37 on Jun. 8, 2024.
Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on Cronos Group will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.
According to data from Benzinga Pro, CRON has a 52-week high of $2.99 and a 52-week low of $1.64.
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