Replies to post #8322 on Cronos Group Inc (CRON)

[Street Smart]

Could be what set it off although before that news the sector was moving. I think the potential of more legalizations may be the main driver

[FUNMAN]

Pot stocks break out ahead of earnings releases

Jul. 28, 2020 2:06 PM ET|About: Altria Group, Inc. (MO)|By: Douglas W. House, SA News Editor

Buying has spiked in cannabis stocks although a specific news catalyst remains elusive.

This morning, Altria (MO +1.4%), the owner of a 45% stake in Cronos Group (CRON +8.4%), reinstated 2020 guidance with a better-than-expected cigarette decline rate (3.5 - 2% vs. 6 - 4%). It also hiked its dividend by 2.4%, always considered a bullish move.

Also this morning, CanaFarma Hemp Products Corp. entered into a memorandum of understanding with Jonathan Cheban's FeelGoodCBD, LLC for a joint venture selling hemp oil-infused products under the Foodgod brand.

Upcoming earnings release dates include July 29 for Aphria (APHA +6.6%), August 6 for CRON, August 11 for Tilray (TLRY +12.0%), August 12 for Canopy Growth (CGC +14.2%) and August 13/14 for Aurora Cannabis (ACB +9.7%).