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

On September 27, 2023, several cannabis stocks experienced significant price movements. Notable gainers included Global Hemp Group (OTC:GBHPF), GrowLife (OTC:PHOT), and Heritage Cannabis Holding (OTC:HERTF), with shares closing up 68.42%, 42.86%, and 26.67% respectively. On the other hand, Target Group (OTC:CBDY), MGC Pharmaceuticals (OTC:MGCLF), and Item 9 Labs (OTC:INLB) were among the biggest losers, with shares closing down 48.31%, 45.45%, and 17.65% respectively.

Portfolio Pulse from Benzinga Insights

September 27, 2023 | 9:30 pm

The cannabis and psychedelics industry is rapidly evolving with companies introducing innovative products and expanding into new markets. WM Technology, Inc. (NASDAQ:MAPS), Leafly Holdings Inc. (NASDAQ:LFLY), Cresco Labs Inc (OTCQX:CRLBF), and Red Light Holland Corp (OTCQB:TRUFF) are among the companies leading the way. Cresco Labs has launched its FloraCal and Cresco Brands into Florida's cannabis market. The People's Ecosystem has introduced Toci Treats powered by Unlokt technology for release in New Mexico. Entourage Phytolab has launched the Entourage Hemp Extract Liquid Fusionner, and Red Light Holland Corp has partnered with Mistercap LLC to launch organic mushroom grow kits in the US and Canada.

Portfolio Pulse from Joana Scopel

September 22, 2023 | 11:37 pm

The article discusses the potential for institutional investors to migrate to cannabis stocks, with a focus on the recent HHS recommendation for rescheduling cannabis. It also covers the potential implications of the SAFE Banking Act and the impact of 280E tax provision on cannabis companies. The article features insights from executives of several cannabis companies including Glass House, TerrAscend, Verano, Village Farms, AdvisorShares' MSOS, 4Front, Trulieve, and Cresco Labs.

Portfolio Pulse from Todd Harrison

September 22, 2023 | 5:40 pm

Zuanic & Associates has analyzed the financial net debt metrics of 20 multi-state operators (MSOs) in the cannabis industry to identify potential candidates for equity raises or debt restructuring. Trulieve and Curaleaf have the highest net debt among the group. The report also includes income tax payables, gross leases, and warrant derivative liabilities in its definition of net debt, revealing that Curaleaf, Cresco, and Trulieve hold the highest absolute 'broad' net financial debt. Several MSOs, including Acreage, Ascend Wellness, AYR, Columbia Care, 4Front, iAnthus, Jushi, StateHouse, and TerrAscend, present a higher probability of needing equity raises.

Portfolio Pulse from Nicolás Jose Rodriguez

September 21, 2023 | 2:55 pm

Cresco Labs Inc. is expanding its cannabis brand portfolio in Florida to include the FloraCal and Cresco brands. The company will roll out these products at Florida-based Sunnyside dispensaries starting next week. Cresco recently opened its 33rd medical cannabis store in the state, positioning itself as a main competitor to Trulieve Cannabis Corp., which has over 120 dispensaries in Florida. Other companies positioning themselves for potential legalization of recreational marijuana in Florida include Planet 13 and AYR Wellness, Inc.

Portfolio Pulse from Jelena Martinovic

September 21, 2023 | 12:54 pm

Several marijuana stocks experienced significant price movements on September 19, 2023. Notable gainers include Maple Leaf Green World, Heritage Cannabis Holding, Charlottes Web Holdings, MJ Holdings, Leafbuyer Techs, GreenGro Technologies, Cara Therapeutics, and 1933 Industries. On the other hand, stocks such as Target Group, AusCann Group Holdings, Item 9 Labs, Kaya Holdings, Curaleaf Holdings, Indiva, Greenlane Hldgs, Trulieve Cannabis, CNBX Pharmaceuticals, Cresco Labs, Canopy Gwth, Body and Mind, CLS Holdings USA, 4Front Ventures, Trees, MedMen Enterprises, Khiron Life Sciences, Zoned Props, CV Sciences, Pharmadrug, C21 Investments, Neptune Wellness Solns, GrowGeneration, Green Thumb Industries, 22nd Century Group, Tilray Brands, MariMed, and Village Farms Intl closed down.

Portfolio Pulse from Benzinga Insights

September 19, 2023 | 9:30 pm

Columbia Care Inc. has raised approximately CA$33.8 million through subscription agreements with institutional investors. The company plans to use the proceeds to reduce its outstanding debt and for general corporate purposes. Additionally, Columbia Care has entered into a non-binding agreement for the repurchase of up to US$25 million of the principal amount of their holdings in the 6% senior secured convertible notes due June 2025. The company's shares traded 5.1852% lower at $1.28 per share at the time of writing.

Portfolio Pulse from Jelena Martinovic

September 18, 2023 | 2:43 pm

Florida medical marijuana market sees expansion with Trulieve Cannabis Corp. and Cresco Labs Inc. opening new retail locations. Other companies like Planet 13 and AYR Wellness are also positioning themselves for potential legalization of recreational marijuana in the state. In other news, High Tide Inc. opened a new Canna Cabana retail cannabis store in Ontario, Canada.

Portfolio Pulse from Jelena Martinovic

September 18, 2023 | 1:48 pm

The cannabis sector experienced a bullish sentiment on September 14, 2023, with several companies seeing significant gains in their share prices. EVIO (OTC:EVIO) led the gainers with a 4900.00% increase, followed by Global Hemp Group (OTC:GBHPF) with a 73.08% increase. However, some companies experienced losses, with Choom Holdings (OTC:CHOOF) leading the losers with a 99.00% decrease.

Portfolio Pulse from Benzinga Insights

September 14, 2023 | 9:30 pm

The article lists the cannabis stocks that gained and lost on September 13, 2023. Notable gainers include Choom Holdings (OTC:CHOOF), CNBX Pharmaceuticals (OTC:CNBX), and Trees (OTC:CANN). Significant losers include EVIO (OTC:EVIO), Item 9 Labs (OTC:INLB), and Target Group (OTC:CBDY).

Portfolio Pulse from Benzinga Insights

September 13, 2023 | 9:30 pm

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