Stifel analyst Andrew Carter downgraded Cronos Group to Hold from Buy with a price target of C$8, down from C$12. The analyst sees uncertainty surrounding the company's inability to file its SEC filings and the investigation around its revenue recognition practices. The outlook for Cronos shares is difficult to analyze at this point given the investigation and given the lack of SEC filings at least in the short run, Carter tells investors in a research note. He believes the involvement from "outside counsel and forensic accountants" underscores the potential gravity of the situation.

In this edition of "Rising High," The Fly conducted an exclusive interview with Brendan Mitchel-Chesebro, industry analyst at BDSA, a Colorado-based cannabis market research and data analytics firm. Here are some... To see the rest of the story go to thefly.com. See Story Here