Contacted by The Fly after short seller Citron Research placed a $3.50 price target on Cronos Group’s stock and said the company has been “deceiving the investing public by purposely not disclosing the size of its distribution agreements with provinces,” a spokesperson for Cronos said “we have no comment to short reports. I can assure you that our securities offerings have been underwritten by reputable banks and our respected advisors have done all the necessary due diligence under both U.S. and Canadian securities law.” In morning trading, shares of Cronos have dropped over 7% to $11.81.
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