August 30, 2018 / 4:33 PM / 2 months ago

BUZZ-Cronos Group: The dark side of cannabis space - Citron

** U.S. shares of Canadian cannabis company Cronos Group down 9.3 pct at $11.58 after Citron Research's tweet here

** Over 25.24 mln shares change hands, 2x their 25-DMA

** "Cronos management appears to have been deceiving the investing public by purposely not disclosing size of its distribution agreements unlike other cannabis players," Citron run by Andrew Left, says in a note here

** In Canadian landscape there are over 100 licensed cannabis producers & there would ultimately be more losers than winners, Citron adds here

** Weed stocks have been on a surge since Corona owner Constellation Brands’ $4 bln investment in Canopy Growth on Aug. 15

** On the same day, Citron said it believes Tilray is best in class and its opportunity now lies in finding for investment

** Tilray’s Q2 revenue almost doubled in the first quarterly earnings after IPO

** Tilray shares nearly quadrupled this year, while U.S shares of Canopy Growth and Cronos Group have nearly doubled YTD

Reporting by Divya R in Bengaluru

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