Extra green vibes... Last year Canadian cannabis icon Cronos was the first "pure play" pot stock to list on an American exchange. On Wednesday, its shares enjoyed a mellow 11% lifting sensation.
Cronos is hungry for USA... Currently, 99.6% of its sales are in Canada, where recreational Cannabis was legalized last fall. The US is still working on that, but CBD (cannabidiol, which delivers weed's "chill" effect without the "whoa") looks like it's on the faster track to legalization. The TSA is letting some passengers fly with it, and the FDA is holding hearings on its medical benefits.
Altria + Cronos = Big Corporate + Weed Dealer... The analyst highlighted Cronos' 45% owner: American tobacco giant Altria. Altria's access to 230K US stores (Altria already sells cigarettes in them) is key for Cronos to get to US customers before the competition. PS: Cronos' weed brands are compelling — look at this slide deck, page #8: