Article: Cronos CEO ‘confident’ about company’s disclosures amid Citron report

Article - Media, Publications
12875

Cronos CEO ‘confident’ about company’s disclosures amid Citron report

David George-Cosh, 30 August 2018

Cronos Group Inc. (CRON.TO) chief executive Mike Gorenstein said he is “very confident” in the Toronto-based cannabis producer’s disclosures after a short seller released a report alleging that it was “deceiving” investors.

U.S.-based Citron Research published a report Thursday that advised investors to exercise caution in the growing Canadian cannabis space, highlighting Cronos with a price target of just $3.50 a share. The report sent Cronos shares down nearly 27 per cent on the Toronto Stock Exchange, triggering a stock circuit breaker and briefly halted trading in the company’s shares. When shares resumed trading, Cronos fell as much as 29 per cent before paring earlier losses. Despite the dramatic drop, the shares are still higher than they were just a week earlier.

Read full Article

12875