10 Best Cannabis Stocks to Buy According to Billionaires

3. Cronos Group Inc. (NASDAQ:CRON)

Number of Billionaire Holders: 6

Cronos Group Inc. (NASDAQ:CRON) is a Canada-based cannabinoid company engaged in the cultivation, manufacture, and marketing of cannabis and cannabis-derived products for both medical and adult-use markets. A noteworthy aspect of the company is its close association with Altria Group, a giant in the tobacco industry that maintains a 41% stake in Cronos that it acquired for $1.8 billion in 2019.

Cronos Group Inc. (NASDAQ:CRON) delivered an EPS of $0.11, beating estimates by $0.12. The company’s revenue of $30.27 million, though up 26.6% YoY, fell below estimates by $4.56 million. What’s more is that most of this growth came from the company’s increasing market share in Canada, reflecting its sustainable nature. Cronos also reported a net profit of $41.08 million for the full year of 2024, its first annual profit since 2021. Another notable achievement is that the company’s Spinach brand ended the year 2024 as the number one cannabis brand in Canada by market share, solidifying its leadership position. Moreover, its PEACE NATURALS brand ended 2024 as the number one flower brand in Israel, with a 24% market share. Cronos also maintains an industry-leading balance sheet with cash and cash equivalents of $859 million, significantly exceeding its market cap and reinforcing its ability to invest in growth, innovation, and global expansion.

Cronos Group Inc. (NASDAQ:CRON) is making continued progress on the expansion of its GrowCo facility, expecting to finish construction of the expanded cultivation and processing facilities in the second quarter of this year, with first harvests and sales from the area commencing in the second half of 2025. The strategic move positions the cannabis company to capitalize on Canadian domestic demand and meet international growth opportunities in 2025.