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

Columbia Care Inc. released its Q2 2023 financial results, revealing $129.2 million in revenue, a 3.8% sequential increase but a 0.3% decrease from the same period last year. The company's gross profit was $52.1 million, up from $47 million in the prior quarter. The company also reported a net loss of $29 million, an improvement from the $36.6 million net loss in the prior period. The company and Cresco Labs Inc. mutually terminated a deal under which Cresco agreed to acquire all of the issued and outstanding shares of Columbia Care. Columbia Care's shares traded 0.7624% higher at $0.4282 per share at the market close on Friday.

Portfolio Pulse from Jelena Martinovic

August 14, 2023 | 2:05 pm

The article lists the cannabis stocks that gained and lost on August 11, 2023. Notable gainers include Australis Capital (OTC:AUSAF), StateHouse Hldgs (OTC:STHZF), and Hemp (OTC:HEMP). Significant losers include Chalice Brands (OTC:CHALF), Radient Technologies (OTC:RDDTF), and Maple Leaf Green World (OTC:MGWFF).

Portfolio Pulse from Benzinga Insights

August 11, 2023 | 9:30 pm

The article lists the cannabis stocks that gained and lost on August 10, 2023. The biggest gainers were Choom Holdings (OTC:CHOOF), Item 9 Labs (OTC:INLB), and Delivra Health Brands (OTC:DHBUF), while the biggest losers were CannTrust Holdings (OTC:CNTTQ), SciSparc (NASDAQ:SPRC), and Khiron Life Sciences (OTC:KHRNF).

Portfolio Pulse from Benzinga Insights

August 10, 2023 | 9:30 pm

The article lists the marijuana stocks that gained and lost on August 9, 2023. Notable gainers include CannTrust Holdings (OTC:CNTTQ), Humble & Fume (OTC:HUMBF), and Maple Leaf Green World (OTC:MGWFF). Significant losers include Gaby (OTC:GABLF), Rocky Mountain High (OTC:RMHB), and GrowGeneration (NASDAQ:GRWG).

Portfolio Pulse from Benzinga Insights

August 09, 2023 | 9:30 pm

The article lists the marijuana stocks that gained and lost on August 8, 2023. Notable gainers include Rocky Mountain High (OTC:RMHB), Earth Science Tech (OTC:ETST), and Tilray Brands (NASDAQ:TLRY). Major losers include Choom Holdings (OTC:CHOOF), CLS Holdings USA (OTC:CLSH), and Maple Leaf Green World (OTC:MGWFF).

Portfolio Pulse from Benzinga Insights

August 08, 2023 | 9:30 pm

Illinois' cannabis industry is undergoing significant transformation, with Governor J.B. Pritzker highlighting the creation of over 30,000 jobs since legalization. Major companies in the state include Cresco Labs Inc (CRLBF), Verano Holdings Corp. (VRNOF), and Green Thumb Industries Inc. (GTBIF). Viola CHI, a subsidiary of Viola Brands, is emerging as a key player in the sector, with plans to expand its retail presence in Chicago. The company is also involved in legal proceedings against the state for fair treatment in license allocation.

Portfolio Pulse from Joana Scopel

August 08, 2023 | 8:32 pm

Tilray Brands, Inc. (NASDAQ:TLRY) has announced a definitive agreement to acquire eight beer and beverage brands from Anheuser-Busch (NYSE:BUD). This acquisition will make Tilray the 5th largest craft beer business in the U.S. The deal includes current employees, breweries, and brewpubs associated with these brands. The transaction, to be paid in all cash, is expected to close in 2023.

Portfolio Pulse from Maureen Meehan

August 07, 2023 | 11:03 pm

Cresco Labs has opened its 32nd dispensary in Florida and 69th nationwide. The new dispensary is located in Palm Bay, a high-traffic area in East Florida. The company aims to increase access to quality cannabis products in significant Florida markets.

Portfolio Pulse from Vuk Zdinjak

August 07, 2023 | 12:30 pm

Illinois' cannabis retailers sold $140 million in weed products in July 2023, setting a new record. The state collected $36 million in tax revenue from Wisconsin residents alone. Governor Pritzker noted that cannabis legalization has resulted in the creation of more than 30,000 jobs in Illinois over the past two years. Major companies in the state's cannabis industry include Cresco Labs Inc, Verano Holdings Corp., Green Thumb Industries, and PharmaCann. Illinois' weed sales reached $1.5 billion in 2022, and 2023 is on track to meet or exceed that record.

Portfolio Pulse from Maureen Meehan

August 04, 2023 | 5:54 pm

Cannabis workers at Sunnyside, a subsidiary of Cresco Labs (OTCQX:CRLBF), have voted to join Teamsters Local 777, making it the fifth Cresco location to do so. The Teamsters union has been gathering more cannabis industry workers to push for better industry conditions. Other recent Teamster activities include workers at Bloc Dispensary, a subsidiary of Justice Cannabis Company, and workers at Growpacker, Amuse, and RISE dispensaries joining the union.

Portfolio Pulse from Vuk Zdinjak

August 04, 2023 | 3:13 pm

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