Cronos has $861 million in cash & equivalents and no debt. They received $1.8 billion of institutional investment from Altria in 2021.
Tilray has $440 million debt and $267 million cash. The two largest institutional investors hold about $25 million worth of shares, the other 412 have less than $5 million each.
The metrics are significantly better than Tilray’s, so why is Cronos trading for little more than its cash? Because Cronos needs another $1 billion of after-tax revenue to break-even. Another dud