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    CRON   CA22717L1013

CRONOS GROUP INC.

(CRON)
  Report
Delayed Toronto Stock Exchange  -  04:17 2022-10-03 pm EDT
4.010 CAD   +3.62%
09/30Barclays Adjusts Cronos Group's Price Target to $3.50 from $5, Maintains Equalweight Rating
MT
09/27Ontario's Top Court Reinstates Securities Class Action Against Cannabis Company
AQ
08/09Toronto market gives back some recent gains as tech weighs
RE
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Toronto market gives back some recent gains as tech weighs

08/09/2022 | 04:50pm EDT

(Adds details throughout; updates prices)

* TSX ends down 90.87 points, or 0.5%, at 19,578.30

* Technology loses 4.1%; Nuvei tumbles 21.4%

* Health care drops 7.9% as cannabis shares slide

* Energy gains 0.6%

Aug 9 (Reuters) - Canada's main stock index fell on Tuesday, with technology shares leading the move lower ahead of U.S. inflation data expected to set the tone for additional Federal Reserve interest rate increases.

The Toronto Stock Exchange's S&P/TSX composite index ended down 90.87 points, or 0.5%, at 19,578.30, after four straight days of gains.

"We're seeing a little bit of weakness from the U.S. side as investors await the CPI reading," said Angelo Kourkafas, investment strategist at Edward Jones Investments.

"The CPI will be the determining factor, whether another 75 basis points hike is needed in September, or if the Fed can pivot to tightening at a slower pace."

The Fed hiked rates by a hefty three quarters of a percentage point in both June and July, with traders seeing about a two-thirds chance of another three-quarter-percentage-point hike next month.

Wall Street also closed down after a dismal forecast from Micron Technology pulled chip makers and tech stocks lower.

The Toronto market's technology sector lost 4.1%, with shares of Nuvei Corp tumbling 21.4% after the company reported quarterly earnings that missed analysts' estimates.

Healthcare dropped 7.9%, pressured by declines for cannabis shares. Cronos Group Inc ended 13.9% lower as its quarterly revenue fell short of estimates and it flagged higher costs.

Resource shares helped limit the TSX's decline. The energy sector rose 0.6% despite a dip in oil prices and the materials group, which includes precious and base metals miners and fertiliser companies, added 0.5%. (Reporting by Fergal Smith; Additional reporting by Johann M Cherian and Sruthi Shankar in Bengaluru; Editing by Shounak Dasgupta and Deepa Babington)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.17% 0.64934 Delayed Quote.-11.82%
BRITISH POUND / US DOLLAR (GBP/USD) 0.20% 1.13592 Delayed Quote.-17.51%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.18% 0.73497 Delayed Quote.-8.62%
CRONOS GROUP INC. 3.62% 4.01 Delayed Quote.-22.29%
EURO / US DOLLAR (EUR/USD) 0.11% 0.98446 Delayed Quote.-13.87%
INDIAN RUPEE / US DOLLAR (INR/USD) 0.08% 0.012281 Delayed Quote.-8.63%
LONDON BRENT OIL 0.71% 89.35 Delayed Quote.9.50%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) -0.07% 0.57154 Delayed Quote.-18.17%
NUVEI CORPORATION 1.90% 38.04 Delayed Quote.-54.48%
WTI 0.80% 83.962 Delayed Quote.8.90%
All news about CRONOS GROUP INC.
09/30Barclays Adjusts Cronos Group's Price Target to $3.50 from $5, Maintains Equalweight Ra..
MT
09/27Ontario's Top Court Reinstates Securities Class Action Against Cannabis Company
AQ
08/09Toronto market gives back some recent gains as tech weighs
RE
08/09Toronto Stocks Slide; Bausch Health Tumbles on Lower Performance Outlook for 2022
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08/09Cronos : Reports 2022 Second Quarter Results - Form 8-K
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08/09Cronos : Q2 Earnings Snapshot
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08/09Transcript : Cronos Group Inc., Q2 2022 Earnings Call, Aug 09, 2022
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08/09Cronos Group up 1.4% Premarket as its Second-Quarter Loss Narrows on Higher Sales
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08/09CRONOS GROUP INC. Management's Discussion and Analysis of Financial Condition and Resu..
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08/09Cronos Group Inc. Reports Earnings Results for the Second Quarter and Six Months Ended ..
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More news
Analyst Recommendations on CRONOS GROUP INC.
More recommendations
Financials
Sales 2022 136 M 99,7 M 99,7 M
Net income 2022 -130 M -95,6 M -95,6 M
Net cash 2022 1 155 M 847 M 847 M
P/E ratio 2022 -11,5x
Yield 2022 -
Capitalization 1 515 M 1 111 M 1 111 M
EV / Sales 2022 2,65x
EV / Sales 2023 1,99x
Nbr of Employees 626
Free-Float 52,4%
Chart CRONOS GROUP INC.
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Cronos Group Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends CRONOS GROUP INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 4,01 CAD
Average target price 5,98 CAD
Spread / Average Target 49,2%
EPS Revisions
Managers and Directors
Michael Ryan Gorenstein Chairman, President & Chief Executive Officer
Robert L. Madore Chief Financial Officer
Arye Weigensberg Vice President-Research & Technology
Jason Marc Adler Independent Director
James D. Rudyk Lead Independent Director