5 Medical Marijuana Stocks to Buy Now

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In this article, we discuss 5 medical marijuana stocks to invest in. If you want to read our comprehensive analysis of these stocks and the current market situation, go directly to 10 Medical Marijuana Stocks to Buy Now.

5. Cronos Group Inc. (NASDAQ:CRON)

Number Of Hedge Fund Holders: 9

Cronos Group, Inc. (NASDAQ:CRON) is a cannabis manufacturer that manufactures, promotes, and sells hemp-derived supplements and cosmetics through e-commerce, retail, and hospitality partner channels in the United States. The company announced the launch of the first of what is expected to be a range of products, in partnership with Geocann, which will utilize the advanced VESIsorb delivery system on June 27.

Earlier this May, CIBC analyst John Zamparo upgraded Cronos Group Inc. (NASDAQ:CRON) to Outperform from Neutral with an unchanged price target of $4.50. The shares provide “downside protection and upside from a potential continuation of vastly improved results,” Zamparo tells investors in a research note post the Q1 results. Based on his remarks, there are “multiple reasons for optimism” with regards to Cronos, including $1 billion in net cash, attractive valuations, and a path to profitability that took a step forward in the first quarter.

Major hedge funds hold bullish positions in Cronon Group Inc. (NASDAQ:CRON). At the end of the first quarter of 2022, 9 hedge funds in the database of Insider Monkey held stakes worth $48.14 million in Cronon Group Inc. (NASDAQ:CRON), compared to 11 in the preceding quarter. Traci Lerner’s Chescapmanager LLC is the leading shareholder in Cronos Group Inc. (NASDAQ:CRON), with 8.32 million shares worth more than $32.39 million.

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