Cronos Group shares surge 15.44% after-hours after beating Q3 earnings estimates and announcing a $67M CanAdelaar acquisition.

Cronos Group Inc. (CRON) surged 15.44% in after-hours trading, driven by a strategic $67 million acquisition of CanAdelaar, a Netherlands-based cannabis leader, and strong third-quarter earnings. The stock hit a 52-week high at $3.20, reflecting a 47.67% annual gain. The acquisition, expected to close in early 2026, expands CRON’s European footprint and aligns with investor optimism about regulatory tailwinds, including potential reclassification of marijuana as a Schedule III substance under Trump’s reported policy shift. Additionally, CRON’s Q3 earnings exceeded expectations, with a 250% EPS beat and $36.34 million revenue, despite missing revenue forecasts. The move follows recent product launches, such as Lord Jones Live Resin Fusions, and a robust balance sheet with $784 million in cash. Analysts highlight the acquisition’s strategic value and the sector’s long-term growth potential amid easing regulations, fueling post-market enthusiasm.