CRON stock is currently selling for $8.89, up 2.13% on the day. But looking at the Cronos Group (NASDAQ:CRON) (TSX:CRON) stock chart over the last five days, it’s clear to see how volatile this stock has been. Investors are clearly moving on them.
CRON stock has remained somewhere between the $8–9 mark throughout the week. However, the question is where will Cronos go in 2019? Let’s look at its milestone achievements of 2018, which should give investors hope for its future years.
CRON Stock and Cronos
Let’s look at capacity. Cronos Group production was somewhere between the 50–70 thousand kilogram range early on in 2018. Then it did something clever; it went about doubling it. How, you ask? By making a joint venture with a group of investors. This partnership—known as Cronos GrowCo—has set about constructing an 850,000-square-foot greenhouse facility. Once completed (mid-2019) this facility will be capable of producing 70,000 kilograms of dried flower annually.
With that size of a yield, Cronos Group should be in the top 10 producers.
High-Margin Venture to Enhance CRON Stock
Cronos Group has placed a strong value on the scientific side of the cannabis industry. Back in September, it made a deal with Gingko Bioworks that allows it access to Ginkgo’s platform to create custom microorganisms for biosynthesizing cannabinoids at commercial scale.
According to The Motley Fool, “The yeast strains Cronos will receive will be targeted at eight specific cannabinoids, including a handful of rare ones, and should allow this production to occur at a fraction of the traditional costs to obtain these cannabinoids.”
In other words, this will improve revenue by greatly decreasing expenditure.
CRON Stock is First on Nasdaq
Where Cronos went first, others have since followed. CRON stock became the first marijuana stock to uplist from the OTC exchange to the Nasdaq. It made the jump in February.
The move was an important one as it helped to legitimize the cannabis industry by trading side-by-side with the more ‘traditional’ businesses.
The move opened the door to further institutional investment and also greatly improved the liquidity of CRON stock.
So there you have some of Cronos Group’s achievements for 2018 that might just set up CRON stock for a fruitful 2019!
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