Cronos Group(CRON) The Motley Fool·2024-08-27 15:37Core Viewpoint - Cannabis investors are concerned that the DEA's decision to delay the public meeting on cannabis rescheduling until December 2, 2024, may indicate that marijuana rescheduling is unlikely before the next presidential election [1][2]. Group 1: Impact on Cronos Group - Shares of Cronos Group fell by 4.1% and reached a decline of 5.7% earlier in the day following the DEA's announcement [1]. - Despite not currently selling cannabis products in the U.S. and having exited the U.S. hemp-derived CBD market, Cronos Group is interested in entering the U.S. cannabis market in the future [3][4]. - The DEA's timeline raises concerns that cannabis may not be rescheduled before the next president takes office in January 2025, which could hinder Cronos Group's potential market entry [4]. Group 2: Financial Performance and Investment Outlook - Cronos Group reported a net loss of $8.7 million in its latest quarter, indicating ongoing unprofitability [5]. - The company has opportunities in Europe; however, the absence of a U.S. presence limits its growth prospects [5]. - Investors seeking to profit from the cannabis market may find better alternatives that are already profitable and have stronger growth prospects compared to Cronos Group [5].