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Cannabis Watch: Cronos weighs on cannabis sector as BMO becomes latest to downgrade stock

Shares of Canadian cannabis company Cronos Group Inc. fell in a rising market Monday, after BMO Capital Markets became the latest house to downgrade the stock that has gained more than 100% in the year to date.

Analyst Tamy Chen lowered her rating to underperform from market perform, the equivalent of a sell rating. The stock CRON, -4.23% is now trading at 85 times her estimate for Ebitda, or earnings before interest, taxes, depreciation and amortization, she wrote in a note to clients. That compares with rivals Aurora Cannabis Inc., trading at 40 times estimated EBTIDA and Tilray Inc.

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