Canadian Cannabis Company Cronos Group (NASDAQ:CRON) in Talks with Altria Group (NYSE:MO)
Canadian Cannabis Company Cronos Group (NASDAQ:CRON) in Talks with Altria Group (NYSE:MO) – December 4, 2018 – Per sources, Altria Group, Inc MO is interested in investing in the Canadian cannabis company, Cronos Group Inc CRON. However, Altria has made no official comments on this matter. Per industry experts, the companies are engaged in initial discussions regarding a potential deal. Let’s wait and see if the market hearsay takes shape and how it impacts the tobacco giant’s performance.
Prospects From Cannabis
Persistent regulatory pressure on tobacco consumption along with mass awareness about negative impacts of nicotine has lowered cigarette consumption rates significantly. This has been marring the performance of several tobacco players. Such aspects have compelled companies like Altria to explore other business advents for sustenance. In this respect, the company has been apparently considering to venture into the nascent but booming cannabis industry.
Well, this is not the first time that Altria has been interested in the marijuana sector. In October, there were rounds that the tobacco giant is considering to buy a stake in Aphria Inc. — another major cannabis producer in Canada.
Moreover, with the legalization of recreational use of marijuana in Canada, many companies are foraying into the cannabis space. In fact, companies have been monitoring the health impacts of cannabis and have started viewing cannabis-infused products as another recreational option.
Although Altria is the first tobacco player to depict an interest in cannabis, it appears to be behind behemoths from the beverage arena. Few months back, Constellation Brands STZ invested in Canada’s Canopy Growth Corp. Also, Coca-Cola KO is eyeing prospects in the market and plans to make an entry through investment in Aurora Cannabis. That said, it is yet to be seen what type of cannabis offerings Altria will come up with and how it markets them, if the company actually invests in Cronos.
Subscribe – https://www.youtube.com/c/RICHTVLIVE
Visit – http://www.richtvlive.com/ a one-stop shop for cryptocurrency, stocks, sports, travel and trending topics. #richtvlive #cronosgroup #altria
Join the RICH TV LIVE FREE Social Media Community – Download the Amino app on your phone or computer and follow the link – https://aminoapps.com/c/RICHTVLIVE/home/
Join the Conversation get the RICH TV LIVE app at Google Play – https://play.google.com/store/apps/details?id=com.app.richtvlive
iPhone App Store – https://itunes.apple.com/us/app/richtvlive/id1212158240?Is=1&mt=8
Popular Uploads – https://goo.gl/tbvXGg
Most Recent Upload – https://goo.gl/unKXBy
YouTube Channel Page – https://goo.gl/yUdG7w
Subscribe – https://goo.gl/q2tLnn
Rich TV Live Playlist – https://goo.gl/e116JF
YouTube support Tubebuddy – https://www.tubebuddy.com/RICHTVLIVE
Rich TV’s company profiles and other investor relations materials, publications or presentations, including web content, are based on data obtained from sources we believe to be reliable but are not guaranteed as to accuracy and are not purported to be complete. As such, the information should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed in Rich TV reports company profiles or other investor relations materials and presentations are subject to change. Rich TV and its affiliates may buy and sell shares of securities or options of the issuers mentioned on this website at any time.
Investing is inherently risky. Rich TV is not responsible for any gains or losses that result from the opinions expressed on this website, in its research reports, company profiles or in other investor relations materials or presentations that it publishes electronically or in print.
We strongly encourage all investors to conduct their own research before making any investment decision. For more information on stock market investing, visit the Securities and Exchange Commission (“SEC”) at www.sec.gov.