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StockNews.com
StockNews.com
Business
Subhasree Kar

Should You Buy Shares of Cronos Group (CRON) in July?

CRON Cronos Group Steve Reitmeister Cronos Group Inc

While Canadian cannabinoid company Cronos Group Inc. (CRON) has been expanding its business, that’s not paying off well. The company is struggling with lower cannabis flower sales in its Rest of the World segment and a decline in revenue in the U.S. segment.

The company reported a 20% year-over-year drop in net revenue at $20.14 million for the quarter ending March 31. Gross profit for the same period stood at a dwindled $2.38 million, marking a decrease of $4.55 million compared to the prior-year quarter. Also, its bottom line remained in the red.

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