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 August 23, 2023, several marijuana stocks experienced significant price movements. Notable gainers included Hemp (OTC:HEMP), 1933 Industries (OTC:TGIFF), and SLANG Worldwide (OTC:SLGWF), while notable losers included Red White & Bloom Brands (OTC:RWBYF), Heritage Cannabis Holding (OTC:HERTF), and CordovaCann (OTC:LVRLF).

Portfolio Pulse from Benzinga Insights

August 23, 2023 | 9:30 pm

On August 18, 2023, several cannabis stocks experienced significant price movements. Notable gainers include Australis Capital (OTC:AUSAF), Target Group (OTC:CBDY), and 1606 (OTC:CBDW), with shares closing up 900.00%, 63.64%, and 44.68% respectively. On the other hand, Panacea Life Sciences (OTC:PLSH), MGC Pharmaceuticals (OTC:MGCLF), and 1933 Industries (OTC:TGIFF) were among the biggest losers, with shares closing down 24.00%, 23.33%, and 19.00% respectively.

Portfolio Pulse from Benzinga Insights

August 18, 2023 | 9:30 pm

Temple University has partnered with medical cannabis producer Cresco Labs (OTCQX: CRLBF) to expand its research into the medical benefits of cannabis. Cresco Labs is currently funding four different research projects at Temple, including studies on the use of cannabis to treat chronic pain, food allergies, and chronic obstructive pulmonary disease (COPD). Early results have been promising, with one study finding that the cannabis compound CBD can decrease a form of food allergy in mice.

Portfolio Pulse from Maureen Meehan

August 18, 2023 | 8:11 pm

Cresco Labs released Q2 2023 results with a revenue of $198m, up 2% sequentially, and an adjusted EBITA stock rise to $40.9m. Columbia Care's Q2 revenues fell slightly to $129m. COMPASS Pathways announced a securities purchase agreement that could secure most of the funding for their ongoing Phase 3 psilocybin-assisted clinical therapy trial. The agreement entails the issuance of 16,076,750 American Depositary Shares and equivalent number of purchase warrants, potentially bringing in approximately $125m directly to COMPASS.

Portfolio Pulse from The Dales Report

August 18, 2023 | 5:20 pm

The article lists the cannabis stocks that gained and lost on August 16, 2023. The biggest gainers were Red White & Bloom Brands, Target Group, and Khiron Life Sciences, while the biggest losers were EVIO, Tetra Bio Pharma, and Heritage Cannabis Holding.

Portfolio Pulse from Benzinga Insights

August 16, 2023 | 9:30 pm

Cresco Labs reported a 2% sequential increase and 9.3% YoY drop in Q2 revenue to $198 million. Gross profit was $87 million, down from $112.8 million YoY. Net loss increased to $43.5 million, up from $8.3 million YoY. The company also announced the termination of a deal to acquire Columbia Care, with no penalties or fees related to the termination.

Portfolio Pulse from Jelena Martinovic

August 16, 2023 | 1:39 pm

Marijuana stocks showed significant movement on August 15, 2023. Notable gainers included Red White & Bloom Brands, GrowLife, and CBD Of Denver, with shares closing up 4900.00%, 42.00%, and 16.67% respectively. On the other hand, Hemp, Stem Holdings, and RIV Capital were among the biggest losers, with shares closing down 33.33%, 20.00%, and 18.12% respectively.

Portfolio Pulse from Benzinga Insights

August 15, 2023 | 9:30 pm

Cresco Labs (OTC:CRLBF) is set to release its latest quarterly earnings report on August 16, 2023. Analysts estimate an earnings per share (EPS) of $-0.04. The company's past performance shows a pattern of share price changes following earnings reports. The stock is currently trading at $1.08, down 71.63% over the last 52-week period.

Portfolio Pulse from Benzinga Insights

August 15, 2023 | 2:01 pm

The article lists the cannabis stocks that gained and lost on August 14, 2023. Some of the biggest gainers include Choom Holdings, Zynerba Pharmaceuticals, and Maple Leaf Green World. On the other hand, Red White & Bloom Brands, GrowLife, and Tetra Bio Pharma were among the biggest losers.

Portfolio Pulse from Benzinga Insights

August 14, 2023 | 9:30 pm

Illinois Governor J.D. Pritzker has signed 45 bills into law, including cannabis reform, and has expunged over 800,000 low-level cannabis arrest records. He will be a keynote speaker at the Benzinga Cannabis Capital Conference in Chicago. Since Pritzker legalized cannabis two years ago, the market has grown significantly, with companies like Cresco Labs Inc, Verano Holdings Corp., and Green Thumb Industries participating. Illinois weed retailers sold $140 million in cannabis products in July 2023 alone, and total sales reached $1.5 billion in 2022.

Portfolio Pulse from Maureen Meehan

August 14, 2023 | 5:34 pm

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