Today, Cronos Group (CRON) was trading nearly 13% higher around 11:15 AM EST. The rally in Cronos appears to be fueled by a positive recommendation from Jim Cramer on January 25.
The widely followed host of the show Mad Money on CNBC, Jim Cramer recommends Cronos Group by calling it the “second best” because of its partnership with tobacco giant Altria (MO). Cramer reiterated his bullishness on Canopy Growth. He stated, “We have been recommending, just so you know, that Canopy is the best. But Cronos is second best and it’s been a fantastic stock. It has very good management, by the way. ”
In the morning session, Canopy Growth (WEED)(CGC) was also trading about 4.4% higher while the overall cannabis sector, represented by the Horizons Marijuana Life Sciences ETF (HMMJ), was trading nearly 4.4% higher on Monday.
Other stocks that were up include Tilray (TLRY), which gained 5.7%, Aphria (APHA), which was up about 2.7%, and Aurora Cannabis (ACB), which was up nearly 4.8%.
Stay tuned for more updates.