If You Invested $1,000 In Cronos Stock One Year Ago, Here’s How Much You’d Have Now

If You Invested $1,000 In Cronos Stock One Year Ago, Here’s How Much You’d Have Now

Oops!Something went wrong.Please try again later.Wayne DugganApril 17, 2021, 6:40 AM·3 min readOops!Something went wrong.Please try again later.Investors who have owned stocks in the last year have generally experienced some big gains. In fact, the SPDR S&P 500 (NYSE: SPY) total return over the last 12 months is 47.3%. But there is no question some big-name stocks performed better than others along the way.Cronos' Disappointing Road: One company that has been a lackluster investment in the last year has been Canadian cannabis producer Cronos Group Inc (NASDAQ: CRON).Cronos battled a difficult Canadian cannabis market throughout 2020. In February, the company reported an impressive 133% sales growth. Adjusted EBITDA losses in the company's international business narrowed, while U.S. losses widened.Cronos also recently announced that it could launch lab-grown cannabis by the end of 2021. Assuming the quality is comparable to the existing product, lab-grown cannabis could potentially significantly reduce production costs for Cronos, helping improve the company's bottom line. Cronos reported a $73 million net loss in 2020.Cronos has the financial backing of tobacco giant Altria Group Inc (NYSE: MO), which owns nearly 50% of Cronos. Altria's support has allowed Cronos to operate with one of the strongest balance sheets in