Cannabis stock Cronos soars 24% as Altria takes major stake, sparking sector rallyPosted by On

Shares of Canada’s Cronos Corp. rocketed more than 24% Friday, after Altria Group Inc. agreed to take a major stake in the company and become its exclusive partner in the cannabis sector as new markets for medical and recreational weed open around the world.

The news sparked a rally in the broader sector, which has been expecting moves by big tobacco, given the overlap of growing and harvesting with the…

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