What happened Shares of Cronos Group (NASDAQ: CRON) surged 16.7% on Thursday, following the marijuana producer's third-quarter results. So what Cronos Group's net revenue rocketed 96% higher to $11.4 million. That was above analysts' estimates for revenue of $10.8 million. The gains were fueled by sales of Lord Jones cannabidiol (CBD) products, which Cronos acquired last year. Higher recreational cannabis sales in Canada and medical marijuana sales in Israel also played a role in Cronos Group's revenue growth. Investors bid up Cronos Group's stock after its Q3 earnings release. Image source: Getty Images. However, Cronos Group's operating losses widened to $41.2 million, compared to $30.7 million in the year-ago period. Higher sales and marketing costs, research and development investments, and expenses related to its Lord Jones acquisition all contributed to the cannabis company's losses. Now what Investors are once again optimistic about the cannabis industry's growth prospects. Citizens in New Jersey, Arizona, and South Dakota recently voted to legalize recreational marijuana, and Democratic presidential candidate Joe Biden has promised to decriminalize marijuana at the federal level. All of these developments could help to fuel Cronos Group's growth in the coming years. "The opportunities before Cronos Group are more exciting than ever," Executive chairman Mike Gorenstein said in a press release. 10 stocks we like better than Cronos Group Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Cronos Group Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source