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

A recent equity report by Zuanic & Associates reveals the tax payments and liabilities of 16 Multi-State Operators (MSOs) in the cannabis industry during CY22. The MSOs collectively paid $761 million in income taxes, with Curaleaf (OTC:CURLF) and Trulieve (OTC:TCNNF) being the top contributors. The report also highlights the varying income tax to gross profit ratios among the MSOs, suggesting that some companies might be using tax debts as a low-cost funding source.

Portfolio Pulse from Nicolás Jose Rodriguez

August 04, 2023 | 9:10 am

On July 31, 2023, several marijuana stocks experienced significant price movements. Notable gainers included Hemp (OTC:HEMP), Acreage Holdings (OTC:ACRDF), and Malachite Innovations (OTC:MLCT), which saw their shares close up by 100.00%, 42.03%, and 40.95% respectively. On the other hand, Humble & Fume (OTC:HUMBF), EVIO (OTC:EVIO), and Choom Holdings (OTC:CHOOF) were among the biggest losers, with their shares closing down by 67.04%, 50.00%, and 44.44% respectively.

Portfolio Pulse from Benzinga Insights

July 31, 2023 | 9:51 pm

Cresco Labs and Columbia Care have mutually agreed to terminate their merger agreement and the sale of certain assets to Sean 'Diddy' Combs. The decision was made in light of the evolving cannabis industry landscape and is believed to be in the long-term interest of Cresco Labs and its shareholders. No penalties or fees are associated with the termination of the transaction.

Portfolio Pulse from Vuk Zdinjak

July 31, 2023 | 1:47 pm

On July 21, 2023, several cannabis stocks experienced significant price movements. Notable gainers included Craftport Cannabis (OTC:BHHKF), Choom Holdings (OTC:CHOOF), and Tetra Bio Pharma (OTC:TBPMF), with shares closing up 580.00%, 125.00%, and 121.31% respectively. On the other hand, Hemp (OTC:HEMP), Avenir Wellness Solutions (OTC:CURR), and 1606 (OTC:CBDW) were among the biggest losers, with shares closing down 50.00%, 27.57%, and 18.75% respectively.

Portfolio Pulse from Benzinga Insights

July 21, 2023 | 9:30 pm

Cresco Labs Inc (OTC:CRLBF) has filed a lawsuit against Green Thumb Industries Inc (OTCQX:GTBIF) accusing it of illicitly recruiting its high-level personnel. Cresco alleges that a top-level employee was poached by GTI, in violation of a non-compete clause. The employee in question, Christopher Tonge, developed a unique process for extracting cannabis oil from marijuana plants, which increased revenue and facilitated significant cost savings for Cresco. The lawsuit also alleges that another ex-Cresco employee, now GTI's senior vice president of operations, has been urging other Cresco workers to resign and join GTI.

Portfolio Pulse from Joana Scopel

July 21, 2023 | 8:26 pm

Cresco Labs has expanded its partnership with Khalifa Kush to exclusively cultivate, manufacture, and distribute the cannabis brand’s products in Massachusetts. The products will be available for purchase starting July 22 at Sunnyside dispensaries. An expanded product line is expected to arrive at additional retail partners soon. This follows a successful partnership launch with Khalifa Kush in California.

Portfolio Pulse from Vuk Zdinjak

July 20, 2023 | 12:14 pm

The article reports on recent leadership changes in the US cannabis industry. The Cannabis Regulators Association (CANNRA) has announced new leadership and expanded membership. Maryland Governor Wes Moore has made key appointments to two new cannabis-related agencies. Minnesota is preparing for marijuana legalization with the appointment of a new director for its regulatory agency. The Arkansas Medical Marijuana Commission has a new member. There have been board changes at Decibel Cannabis Company, High Tide Inc., Cresco Labs, Glass House Brands, and Craftport Cannabis Corp. Scotts Miracle-Gro Company has appointed a new board member. Unrivaled Brands, iAnthus Capital Holdings, PharmaCielo, and MedMen Enterprises have also made key appointments.

Portfolio Pulse from Jelena Martinovic

July 19, 2023 | 1:29 pm

The article lists the marijuana stocks that gained and lost on July 17, 2023. The biggest gainers were Flower One Hldgs (OTC:FLOOF), Tetra Bio Pharma (OTC:TBPMF), and Global Hemp Group (OTC:GBHPF). The biggest losers were EVIO (OTC:EVIO), Craftport Cannabis (OTC:BHHKF), and Global Compliance (OTC:FUAPF).

Portfolio Pulse from Benzinga Insights

July 17, 2023 | 9:30 pm

Illinois Governor JB Pritzker, who signed a cannabis legalization bill two years ago, will be a keynote speaker at the upcoming Benzinga Cannabis Capital Conference. The cannabis legalization law has resulted in the creation of over 30,000 jobs and positively impacted the state's economy, with weed sales reaching $1.5 billion in 2022. Some of the largest companies in Illinois' diverse cannabis industry include Cresco Labs Inc, Verano Holdings Corp., and Green Thumb Industries.

Portfolio Pulse from Maureen Meehan

July 17, 2023 | 4:29 pm

A car crashed into the Sunnyside Medical Cannabis Dispensary in Daytona Beach, Florida, causing significant damage to the building and surrounding areas. The dispensary is owned by Cresco Labs (OTCQX: CRLBF). The crash resulted in cosmetic and minor structural damage, but no serious injuries were reported. The company is working to reopen the shop as soon as possible.

Portfolio Pulse from Maureen Meehan

July 16, 2023 | 10:58 pm

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