Our Financial Oligarchy; Emperors of a Brave New World
They own the regulators; they own the brokerage houses; they own the clearing houses; they own all of your investments; and it’s even been shown that they can exert complete control over the government.
To understand how these banks exert complete control over our financial system, one must first understand the securities clearance system.
In the United States of America, there is only one central clearinghouse: The Depository Trust and Clearing Corporation, and for almost 50 years they have maintained a virtual monopoly over this essential service.
It is a private corporation that is owned by these mega-banks and brokers.
Read full free book online with many illustrations
PDF (470 Pages): Our Financial Oligarchy Back-Up
ROSEN, A RANKED AND LEADING LAW FIRM, Reminds Cronos Group, Inc. Investors of Important Deadline in Securities Class Action Lawsuit – CRON
15 April 2020
Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Cronos Group, Inc. (NASDAQ: CRON) between May 9, 2019 and March 2, 2020, inclusive (the “Class Period”), of the important May 11, 2020 lead plaintiff deadline in the securities class action. The lawsuit seeks to recover damages for Cronos investors under the federal securities laws.
Read full release.
Cracks Are Forming in Cronos Group Stock
Todd Shriber, 28 March 2019
As has been widely noted since the start of the year, marijuana equities are among 2019’s best-performing issues. Until recently, it would have been accurate to include Cronos Group (NASDAQ:CRON) in that conversation. Although the ides of March recently struck Cronos Group stock, shares of the Canadian cannabis company are still up 94.80% this year (as of March 27). In fact, Wednesday could go down as a day of infamy for Cronos Group stock.
In late trading, CRON stock was down more than 11% on above-average volume after Canaccord Genuity analysts Matt Bottomley and Bobby Burleson downgraded the shares to “sell” from “hold.” Late Wednesday, Cronos Group stock was clinging to the $18 area, well above Canaccord’s price target of $12.68. “While the sales of Canada’s other prominent producers ranged from $15 million to $60 million in the December quarter — the first in which the country allowed recreational sales to adults — Cronos managed just $4 million in sales of both medical and recreational pot,” reports Barron’s. “That even missed the low-bar of Canaccord’s forecast for $5 million.”
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Short seller Andrew Left has his doubts about Canadian pot stocks, says he’s betting against Canopy
Thomas Franck, 14 November 2018
Citron Research’s Andrew left reiterated his bet against the Canadian cannabis industry Wendesday, telling CNBC that he’s short Canopy Growth and Cronos Group in addition to his already disclosed wager against Tilray.
Fielding a question from “Halftime Report” host Scott Wapner, Left said his doubts on the space aren’t confined to just one company. “I’m also short Cronos, I’m short Canopy, I’m short Tilray. So I’m short a basket of the names,” he said. “Once the U.S. licensed producers come on — the faster it becomes legal in the U.S., the quicker the Canada names go lower.”
“They won’t get the exposure in the U.S., they’re not players internationally,” Left added. “I don’t care how many press releases they put out, they’re not going to be shipping cannabis from Canada to Australia. Not happening.”
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Our Final Word on $TLRY before $50
Citron Research, 12 September 2018
Tilray management is not stupid. Just seven weeks ago Tilray decided to go public with an offering price of $17. This was done with much deliberation between them and their many bankers. With this price Citron believes they took into consideration all future deals and partnerships that the company had been planning.
The recent cannabis stock rally is a US phenomenon fueled by retail investors. Since August 15, US marijuana stocks Tilray and Cronos have significantly outpaced the performance of their Canadian traded peers.
Due to federal regulation, US listed stocks cannot have any operations in the US without losing their listings, whereas Canadian listed stocks can have US operations. The US will be the largest cannabis market in the world. Today, the California market is over 5x larger than all of Canada. Despite obvious logic, we’ve seen US retail investors pile into the US listed marijuana stocks.
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Glancy Prongay & Murray LLP Files a Securities Class Action on Behalf of Cronos Group, Inc. Investors (CRON)
BUSINESS WIRE, 04 September 2018
National law firm Glancy Prongay & Murray LLP (“GPM”) announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of persons and/or entities that acquired Cronos Group, Inc. (“Cronos” or the “Company”) (NASDAQ: CRON) securities between August 21, 2018, and August 30, 2018, inclusive (the “Class Period”). Plaintiff pursues claims against the Defendants, under the Securities Exchange Act of 1934.
On August 30, 2018, Citron Research published an article entitled “Cronos: The Dark Side of Cannabis Space,” alleging, among other things, that the Company has been “deceiving the investing public by purposely not disclosing the size of its distribution agreements with provinces – unlike every other major cannabis player” and that this was because “the agreements are so small that they could never justify the premium investors are paying for the stock.” On this news, Cronos’ share price fell $3.62 per share, or over $28%, to close at $9.12 per share on August 30, 2018, on unusually heavy trading volume.
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Cronos Stock Declines by 30% After Citron Blast
NATHAN REIFF, 31 August 2018
Canadian cannabis company Cronos Group, Inc. (CRON) fell by nearly 30% on Thursday following a damning prediction by Citron Research’s famous short-seller Andrew Left. According to MarketWatch, Left published a so-called “reality check” about the company and the future of the legal cannabis industry in general. Along with other factors, most importantly growing concerns about a federal pushback against marijuana legalization, Left’s report seems to have deflated several stocks in the burgeoning space. Along with CRON’s decline, fellow Canadian rivals Canopy Growth Corp. (CGC) and Tilray Inc. (TLRY) both fell, though by much smaller margins. (See also: Marijuana ETF Attracts $22 Million in August)
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Cronos Group, Analyst Respond To Citron’s Short Report
Wayne Duggan, 31 August 2018
Citron’s Andrew Left said Thursday morning that Cronos’ agreements are so small that they wouldn’t even come close to justifying the huge gains in the company’s market cap. Left said Cronos lags its Canadian cannabis peers in sales, trades at a steep premium to Canopy Growth Corp CGC 0.42% (which has a beverage deal in place), has a history of product recalls, has no U.S. business and is spending practically nothing on research and development.
“When looking at Cronos relative to other cannabis stocks that have yet to receive a ‘beverage deal,’ Cronos’ sky high valuation looks completely out of whack with fundamentals,” Left said.
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Cronos Group besieged by short-seller Andrew Left’s Citron Research, shares fall and end sharply up Friday
Ellen Kelleher, 31 August 2018
Shares in the Canadian cannabis group Cronos Group Inc (NASDAQ:CRON) have taken a tumble after the infamous short seller Andrew Left’s firm Citron Research delivered a pessimistic call on the stock. In a note to investors and via its Twitter feed, Citron Research charged that Cronos is the “most overhyped” of all the pot stocks and set a price target of US$3.50 on the Ontario-based company.
The stock fell by 28.4% to US$9.12 in Thursday’s after-hours session. Those losses were extended early on Friday when Cronos stock on the Nasdaq in New York slid another 4.5% to trade at US$8.70 in premarket business. But just as quickly, the stock reversed when trading got going on Friday. Shares climbed to a session peak of US$10.29 before ending 8.33% higher at US$9.88. The share rose 0.4% in after hours trade on Friday to US$9.92. In two days of trading, the stock had swung wildly from its lows to its highs.
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A notorious short-seller has come out swinging against a popular marijuana stock (CRON)
Business Insider, 30 August 2018
Citron Research — a short-selling firm with a history of wiping out stock prices and run by Andrew Left — has a new target: cannabis stocks.
In a report published Thursday, the firm says Cronos, one of the most valuable publicly traded marijuana companies, is worth roughly one-third of its current price: $3.50 per share.
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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.
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Marijuana Stocks Fall As Short Seller Says Pot Play Is ‘All Talk’
BILL PETERS, 30 August 2018
Marijuana stocks retreated Thursday after short seller Citron Research alleged that Canadian cannabis producer Cronos Group (CRON) was “all talk” and was omitting key details about the size of its distribution agreements. The company, Citron Research alleged in a report Thursday, “appears to have been deceiving the investing public by purposely not disclosing the size of its distribution agreements with provinces — unlike every other major cannabis player.”
“Our sources have informed us that it’s because the agreements are so small they could never justify the premium investors are paying for the stock,” Citron Research said. Cronos said it could not comment on the report. The company said its advisers had done “all the necessary due diligence under both US and Canadian securities law.” In arguing its case, Citron cited an Aug. 21 news release from Cronos that announced provincial supply agreements across Canada, without any details about how big those deals were.
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Cronos: The Dark Side of The Cannabis Space Target Price- $3.50
Citron Research, 30 August 2018
Citron has a hot hand in cannabis lately. First Aurora ($ACB) and then in the last two weeks our trading calls played out to 70% returns. One long and one short (respectively: $TLRY and $CVSI). Citron would like to inform investors of caution on the ongoing and real green rush. Although the hype is big and the prohibition after 100 years is real, it is critical to understand that in the Canadian landscape, there are over 100 licensed producers and there will ultimately be more losers than winners.
While Canadian growers get ready for October 17 and the new age of recreational marijuana usage in Canada, Citron believes that there are a few truths that need to come to light with regards to Cronos. Cronos management appears to have been deceiving the investing public by purposely not disclosing the size of its distribution agreements with provinces – unlike every other major cannabis player
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