Cronos has been red-hot in 2019, up more than 76% including Monday’s gain
The Canadian cannabis producer Cronos soared Monday, gaining more than 15%, after getting an endorsement following Friday’s closing bell from the “Mad Money” host Jim Cramer.
“They’ve got a very important tie-up with Altria,” Cramer said during the “lightning round” part of his show. “We have been recommending, just so you know, that Canopy CGC is the best. But Cronos is second best and it’s been a fantastic stock. It has very good management, by the way.”
In December, the cigarette giant Altria invested 2.4 billion Canadian dollars, or $1.8 billion, in Cronos in an effort to diversify away from its cigarette business.
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