Streetbeat News

CRLBF

Cresco Labs Inc.

http://www.crescolabs.com/

CEO

Charles Bachtell

Employees

3,500

Industry

Medicinal and Botanical Manufacturing

Open

1.30

Mkt cap

409M

Volume

268K

High

1.32

P/E Ratio

-2.18

52-wk high

2.65

Low

1.20

Div yield

N/A

52-wk low

1.09

Pablo Zuanic, managing partner and senior analyst at Zuanic & Associates, has analyzed the capital expenditure (capex) strategies of 20 prominent cannabis Multi-State Operators (MSOs). Amid high interest rates and regulatory uncertainties, most companies are prioritizing cost reduction and cash flow management. However, Zuanic suggests that some MSOs with the resources should increase capex for profitable growth. Green Thumb (OTC:GTBIF) leads the way with a capex-to-sales ratio of 26% in 1H23, well above the group average of 6%. Other high capex players include MariMed (OTC:MRMD), 4Front (OTC:FFNTF), and Cresco (OTC:CRLBF).

Portfolio Pulse from Nicolás Jose Rodriguez

October 18, 2023 | 7:16 pm

Cresco Labs Inc's CEO, Charlie Bachtell, discussed the company's strategies and the challenges of the cannabis industry at the Benzinga Cannabis Capital Conference. Bachtell attributed the company's success to a disciplined focus on core markets, products, brands, and team members. He also highlighted the importance of educating legislators about the cannabis industry. The CEO further discussed the challenges in Illinois, including competition from neighboring states and the emerging market of intoxicating cannabinoids.

Portfolio Pulse from Joana Scopel

October 13, 2023 | 2:35 am

The Cannabist Company Holdings Inc (OTC:CCHWF) recently underwent a rebranding from Columbia Care Inc. The rebranding was aimed at aligning the company with the evolving needs and expectations of the consumer base and their own team. The timing of the rebrand coincided with the potential acquisition with Cresco Labs Inc. (OTCQX: CRLBF). The company is also leveraging technology to overcome industry challenges and is focusing on enhancing consumer experience in its retail outlets. The company's shares closed Tuesday's market session at $1.23 per share, trading up 8.18%.

Portfolio Pulse from Joana Scopel

October 10, 2023 | 9:22 pm

A team of female entrepreneurs is preparing to open a recreational marijuana dispensary in Bloomfield, New Jersey. The business, Nightjar, owned by Soulstar Holdings, is one of 48 licensed cannabis operators in the state that will receive $12 million in grant money. Other cannabis dispensaries are also opening across the US, including those owned by iAnthus Capital Holdings, Inc., Verano Holdings Corp., and Cresco Labs Inc.

Portfolio Pulse from Jelena Martinovic

October 10, 2023 | 2:22 pm

Cresco Labs Inc. is launching its Good News sublingual cannabis brand in Pennsylvania. The first product, Sweet Troches, comes in six flavors with 10mg THC and is available at all Sunnyside locations and other dispensaries in PA. This follows the opening of Cresco's new store in Altoona, PA. Cresco’s shares traded 3.4884% lower at $1.66 per share after the market close on Friday.

Portfolio Pulse from Jelena Martinovic

October 09, 2023 | 1:48 pm

Marijuana stocks experienced a bearish Tuesday with several stocks closing down significantly. GrowLife (OTC:PHOT) and MedMen Enterprises (OTC:MMNFF) were among the top losers, closing down 60.00% and 19.30% respectively. However, some stocks such as Khiron Life Sciences (OTC:KHRNF) and Global Compliance (OTC:FUAPF) closed up, gaining 13.33% and 11.00% respectively.

Portfolio Pulse from Benzinga Insights

October 03, 2023 | 9:30 pm

Workers at five Sunnyside Dispensaries, a subsidiary of Cresco Labs Inc., have reached tentative agreements for first union contracts with Teamsters Local 777. The contracts include significant improvements such as an end to at-will employment, the right to representation during disciplinary matters, and 15% wage increases over the agreement's lifetime. Meanwhile, employees of Dragonfly Wellness, a medical marijuana dispensary in Salt Lake City, voted to join the United Food and Commercial Workers (UFCW).

Portfolio Pulse from Jelena Martinovic

September 29, 2023 | 1:05 pm

Industry experts at the Benzinga Cannabis Capital Conference emphasized the importance of professionals with mainstream industry experience in the cannabis sector. Susan Thronson, a board member at Trulieve Cannabis Corp, highlighted the need for adaptability in the rapidly changing cannabis landscape. The panel also discussed the challenges of state-by-state legislation and the need for diversity in the industry.

Portfolio Pulse from Jelena Martinovic

September 28, 2023 | 11:51 pm

The article lists the cannabis stocks that gained and lost on September 28, 2023. The biggest gainers were MPX International (OTC:MPXOF), Target Group (OTC:CBDY), and Global Compliance (OTC:FUAPF), while the biggest losers were Maple Leaf Green World (OTC:MGWFF), Item 9 Labs (OTC:INLB), and Cansortium (OTC:CNTMF).

Portfolio Pulse from Benzinga Insights

September 28, 2023 | 9:30 pm

Illinois Governor JB Pritzker will be a keynote speaker at the Benzinga Cannabis Capital Conference, discussing the state's successful legalization of marijuana. Key players in the Illinois market, including Cresco Labs Inc, Verano Holdings Corp, and Green Thumb Industries Inc, have created 30,000 jobs and helped the state's marijuana sales reach $1.5 billion in 2022.

Portfolio Pulse from Jelena Martinovic

September 28, 2023 | 1:44 pm

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