|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||10.34 - 11.10|
|52 Week Range||0.81 - 40.63|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||15.09|
Cresco Labs (CRLBF) appeared on the way to acquire Origin House after it made a C$1.1 billion offer that was quickly approved of by a significant majority of Origin House shareholders.As part of the process, businesses involved with mergers valued at over $90 million are required to contact the Federal Trade Commission and the Department of Justice via an HSR filing. Once it is filed, all participants in the deal have to wait for 30 days before closing the deal.Usually there is little chance they are questioned, as less than four percent are hit with a Second Request, is when the DOJ asked the parties involved for more information. When these requests are sent, it is in reference to concerns over something related to anti-competitive impacts as a result of the transaction.Consequently, with this deal there are three questions that must be answered. The most obvious is whether or not the deal will be allowed to go through. Second, if it does, what, if anything, will have to change in order to obtain approval. And third, what the new time frame will be to close the deal if it is allowed to go forward and be finalized.The time frame will be extended to close the dealNo matter how this plays out, there is no way this deal is going to close anytime soon. Originally it was supposed to be completed in June 2019, but that is no longer in the cards.Per the Second Request, there is a 30-day waiting period given to the companies to give time to respond to the request and the desired associated material.After the period, the normal waiting period to comply with the request is usually about three months. If that's how it plays out in this case, and assuming the deal goes forward, it would mean it wouldn't close until some time in October 2019.The downside of this is once there is a Second Request, approximately 70 percent of the time the deal is either not allowed to go forward, or requirement put in place that would have to be met before the deal is allowed to be completed.If Cresco Labs and Origin House don't like or don't agree with what the DOJ determined or requires, they could go to court over it. If that happened, it would be much longer before the deal could be closed.Major negative catalystMore than anything else, the short-term negative impact on the companies will be the cloud hanging over the deal, along with the uncertainty as to what it exactly is the DOJ is looking at concerning anti-competitive elements of the deal, as it views it.The market doesn't like a lack of visibility in these types of deals. Until there is more clarity, the effect on the two companies will be to put some downward pressure on the share price of both stocks, with the most likely negative impact to be on Origin House.Even so, even after the announced bid for Origin House was announced and before it was known there would be a Second Request from the DOJ, Cresco Labs wasn't receiving a lot of love from investors, having pulled back by about $3.00 per share after a brief boost from the news.It would be surprising if it doesn't drop further because of the uncertainty surrounding the deal, including the inability of the market to value the company until that is made clear.ConclusionIf this deal doesn't go through, or the terms of the deal have to be changed in order to receive approval from the DOJ, Cresco Labs will take a hit, but Origin House will almost certainly take a bigger one.As it stands today and based upon how Second Requests have worked in the past for companies receiving them, the odds aren't in the favor of this deal standing as it was originally hammered out between the two companies. There is also the possibility it will be halted permanently.Again, the major problem in the short term is nobody knows what it is exactly that made the DOJ make a Second Request. Until that is revealed, investors' hands are somewhat tied because of not know which way this will play out.For that reason it's going to be difficult to accurately price these companies and add or take away from a position. They fact they are now have a better entry point will mean little if the worst-case scenario plays out. Both companies would take a big hit if the deal is not allowed to continue.On the other hand, if it does go through they're going to rebound nicely, and reward shareholders in both companies with nice gains.This will be a cat-and-mouse game until the DOJ reveals its concerns, and if applicable, how both companies respond to any changes required to move the deal forward.In a market sector that already has risk, there are better plays to be had that include a better risk/reward ratio. I would stay in the companies if I already had a position, but I would be careful not to add to my position until the smoke clears.To read more on the nitty gritty of what’s going on in the rising cannabis industry, click here. Read more on Cresco Labs: * Cresco Labs Worth Another Look Following Earnings * Cannabis Stock Cresco Labs Thrusts Into the Spotlight More recent articles from Smarter Analyst: * Can Aurora Cannabis (ACB) Stock Set Up for Another Breakout? * Stay Away from Cresco Labs (CRLBF) Stock Until the Smoke Clears * Village Farms (VFF) Has a Lot Going for It * Hexo Has Difficult Days Ahead, Analyst Says
Cresco Labs Gets Two ‘Buy’ Recommendations in JuneCresco LabsYesterday, Compass Point initiated coverage on Cresco Labs (CRLBF) with a “buy” rating and a $16 price target. On June 3, Eight Capital also started coverage on Cresco Labs. It
Cresco Labs Inc. (“Cresco Labs” or the “Company”) (CL.CN) (CRLBF), one of the largest vertically integrated multistate cannabis operators in the United States, today announced the opening of new VidaCann medical cannabis dispensaries in the cities of Pensacola and Jacksonville, Florida. With the opening of the new dispensaries, VidaCann now has 12 operating dispensaries throughout the state of Florida.
Cresco Labs Inc. (“Cresco Labs” or the “Company”) (CL.CN) (CRLBF), one of the largest vertically integrated multistate cannabis operators in the United States, today provided an update on its acquisition (the “Transaction”) of CannaRoyalty Corp. d/b/a Origin House (“Origin House” – CSE: OH, OTCQX: ORHOF). Under the United States Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (“HSR Act”), Cresco Labs is required to file a notification to U.S. antitrust authorities and observe a waiting period before completing the Transaction.
If you have doubts that cannabis is on its way from illegal to industrial, take a look inside Cresco Labs’ custom built, 43-thousand square-foot production facility in Joliet, Illinois.
The nascent marijuana industry has made significant strides over the past several years. But the once-illicit marijuana market still has hurdles to cross before unlocking its full potential, according to executives at some of the world’s leading cannabis companies.
News flash to anyone who still thinks that marijuana legalization bills are doomed: Illinois just proved you wrong.Governor J.B. Pritzker -- a billionaire Democrat who ran on legalization -- is about to sign a bill ending marijuana prohibition in his state. This makes Illinois the 11th state to legalize recreational marijuana. (The 12th if you count Washington, D.C.)Whether or not you live in Illinois, this is a big deal -- for several reasons:InvestorPlace - Stock Market News, Stock Advice & Trading Tips 1\. Marijuana legalization made it through the state legislature.Previously, only the much-smaller state of Vermont was able to legalize this way, versus a ballot referendum. This has to be encouraging to pro-legalization politicians in other states… and in Congress. (It's yet another reason why I expect full federal legalization sooner than you think.) * The 10 Best Stocks for 2019 -- So Far 2\. Now, almost a third of Americans will live in a state where adults can purchase recreational marijuana.Illinois is the 6th biggest U.S. state by population. And, with nearly 13 million people, Illinois will be second only to California on the legal-weed roster.So, naturally… 3\. Illinois will bring a LOT to the table for the cannabis industry.We're talking: * $1.6 billion a year in expected sales, according to Chicago Business.And that's just from recreational use. When you factor in medical marijuana - a market that's already thriving in Illinois - the future is even brighter: * $2.9 billion a year by 2024, projects Alliance Global Partners."Illinois is going to be huge," agrees the Brightfield Group, noting that Illinois will soon rival Colorado… a state with a more established industry - but only half the people. * Governor Pritzker thinks legal marijuana will earn Illinois $170 million… just in the first year. There's no doubt that tax revenue is one reason states are jumping on the bandwagon. 4\. This could be a huge job creator.Illinois is already home to several of the top cannabis companies, like Cresco Labs (OTCMKTS:CRLBF). And Cresco is planning to double its workforce there.From its home base in Chicago, Cresco has some pretty ambitious goals for expansion. In April came the news that it would purchase Origin House (OTCMKTS:ORHOF) for approximately $850 million.Cresco is already one of the biggest American cannabis companies, with $21.1 million in first-quarter revenues. But if you count its pending acquisitions of Origin House and VidaCann, Cresco would have made$33.9 million. Origin House might be based in Ontario -- but what it really does for Cresco is open up America's oldest and largest legal-weed market: California.That's just one example. And for us as investors, it's time to get on board this train -- or watch it pass us by.At Investment Opportunities, I'm closely monitoring stocks like Cresco for a potential buy. It's certainly a better bargain than most of the Canadian pot stocks.However, there are a few OTHER stocks that are attractive and still in "penny stock" territory. Why I Like Penny Pot Stocks Ahead of Full Marijuana LegalizationPenny stocks often get a bad rap. But they are actually critical to the global marketplace. The world needs tiny companies -- just as much as bigger ones. They're the job creators. The innovators. And they're the places to look for the biggest gains once marijuana legalization occurs.As an investor, if you're looking for the next Netflix (NASDAQ:NFLX) or Apple (NASDAQ:AAPL), this is where you'll find it.You just want to be VERY choosy about which ones you buy.I use strict guidelines to pick penny stocks -- and I tell you all about them in this presentation.When I used my five-step evaluation process on the marijuana market, I identified four stocks that are worth buying now.During my presentation, you'll have the opportunity to secure a free copy of America's Top 4 Marijuana Moonshot Stocks… I'll even give you a fifth bonus name just for fun.Matthew McCall is the founder and president of Penn Financial Group, an investment advisory firm, as well as the editor of Investment Opportunities and Early Stage Investor. He has dedicated his career to getting investors into the world's biggest, most revolutionary trends BEFORE anyone else. The power of being "first" gave Matt's readers the chance to bank +2,438% in Stamps.com (STMP), +1,523% in Ulta Beauty (ULTA), +1,044% in Tesla (TSLA), +611% in Liquefied Natural Gas Limited (LNGLY), +324% in Bitcoin Services (BTSC), just to name a few. If you're interested in making triple-digit gains from the world's biggest investment trends BEFORE anyone else, click here to learn more about Matt McCall and his investments strategy today. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 6 Retailers Including Disney Agree to Ditch On-Call Scheduling * The 10 Best Stocks for 2019 -- So Far * 7 Small-Cap ETFs to Buy Now Compare Brokers The post How Marijuana Legalization in Illinois Opens Up a Billion-Dollar Market appeared first on InvestorPlace.
Cresco Labs Gets Another ‘Buy’ RatingCresco LabsYesterday, Eight Capital initiated coverage on Cresco Labs (CRLBF) with a “buy” rating and put a price target of 20 Canadian dollars on the stock. The stock has received a “buy” or
NEW YORK , June 4, 2019 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 10,000 U.S. and global securities, today announced the launch of the OTCQX® Cannabis Index ...
Cresco Labs Inc. (“Cresco Labs” or the “Company”) (CL.CN) (CRLBF), one of the largest vertically integrated multistate cannabis operators in the United States, today provided comments on the passage of legislation on June 2, 2019 that makes Illinois’ medical-use cannabis program permanent, expands the list of qualifying medical conditions, and allows for nurse practitioners and physician’s assistants to certify a patient’s eligibility for the program in addition to doctors. “The legislation passed this weekend represents the acknowledgement of the enormous success of the pilot medical-use cannabis program put in place in Illinois in 2013,” said Cresco Labs CEO & Co-Founder Charlie Bachtell.
Cresco Labs Inc. (“Cresco Labs” or the “Company”) (CL.CN) (CRLBF), one of the largest vertically integrated multistate cannabis operators in the United States, today provided comments on the legalization of adult-use cannabis in its home state of Illinois. Cresco Labs CEO & Co-Founder Charlie Bachtell served on the Cannabis Legalization Subcommittee of Illinois Governor JB Pritzker’s transition team as the sole representative for cannabis operators in the state. “The legislation passed today legalizing adult-use cannabis in the state of Illinois beginning in 2020 represents a thoughtful expansion of access to cannabis in Illinois and we expect it will have a positive impact on both social justice issues and from a tax revenue perspective by expanding the employment and ownership opportunities for cannabis businesses in the state,” said Mr. Bachtell.
Cresco Labs Inc. (“Cresco Labs” or the “Company”) (CL.CN) (CRLBF), one of the largest vertically integrated multistate cannabis operators in the United States, today announced that management will participate in two investor conferences during the first week of June. CEO and Co-Founder Charlie Bachtell will be a panelist at the Eight Capital & Cassels Brock – State of the Union: American Cannabis Forum on Tuesday June 4, 2019 at 12:15pm ET in Toronto. The Eight Capital Conference is a unique platform that brings together cannabis companies, institutional investors, sell-side research analysts, and select media to connect and network in Toronto, one of the industry’s most important hubs.
First-quarter revenue came in at $21.1 million, which was also up 24 percent quarter over quarter. “Since the beginning of the year, we have made significant progress on the vision we have laid out for building Cresco into the most important company in the cannabis industry,” said CEO Charles Bachtell in a press release. “We have continued to execute well from an operational standpoint, generate higher levels of revenue in our existing markets, and deliver strong profit margins.
Cresco Labs' Q1 Sales Spiked but Still Fell Short of EstimatesCresco LabsCresco Labs (CRLBF) reported its first-quarter earnings yesterday. The company generated revenues of $21.1 million in the first quarter, a YoY rise of 311%. Cresco Labs’
Conference Call with Investors and Analysts to be Held at 6:00 p.m. Eastern Time Today
CannaRoyalty Corp (OTC: ORHOF ), a Canadian cannabis company that operates under the Origin House brand name, reported first-quarter results Wednesday that showed substantial revenue growth — and expenses ...
Revenue skyrocketed for the cannabis brands and distribution company as the California cannabis market picked up steam and sales poured in from its acquisition of Canadian vape retailer 180 Smoke.
Cresco Labs Inc. (“Cresco Labs” or the “Company”) (CL.CN) (CRLBF), one of the largest vertically integrated multistate cannabis operators in the United States, today announced the launch of its Social Equity & Educational Development (SEED) program, the cannabis industry’s first national social equity initiative promoting inclusion, expungement, equality, access and community engagement. “With the U.S. cannabis industry at an inflection point with changing public perception, political support and legalization of adult use being considered, the industry is poised to become one of the leading job creators in the country,” said Cresco Labs CEO & Co-Founder Charlie Bachtell.
Cresco Labs, Inc. (CL.CN) (CRLBF) (“Cresco” or “the Company”) announced today that shareholders representing 205,172,192 common shares (the “Shareholders”) have entered into voluntary lock-up agreements with the Company (the “Agreements”), representing 97% of the shares subject to the initial lock-up and 80% of the total issued subordinate voting shares (on an as-if converted basis). Included among the Shareholders are all of the Company’s founders, its entire executive management team and board of directors, as well as several of the largest outside investors in Cresco.
Analyzing Charlotte’s Web Holdings’ Q1 Earnings Estimates(Continued from Prior Part)Cresco LabsCresco Labs (CRLBF) is slated to release its first-quarter earnings on May 29. Analysts expect the company’s revenue to rise sequentially to $22.6
How Cresco Labs Stacks Up against Other Cannabis PlayersCresco LabsCresco Labs (CRLBF) is a multistate cannabis company that has presences in both the adult use and medical cannabis markets. The company has its own production and distribution
Cresco Labs Inc. (“Cresco Labs” or the “Company”) (CL.CN) (CRLBF), one of the largest vertically integrated multistate cannabis operators in the United States, will report its financial results for the first quarter ended March 31, 2019 on Wednesday, May 29, 2019 after the market closes. The Company will hold a conference call and webcast to discuss its business and financial results on Wednesday, May 29, 2019 at 6 p.m. Eastern Time (5 p.m. Central Time). The conference call may be accessed via Cresco Labs’ investor relations website at investors.crescolabs.com or by dialing 866-688-4235 (409-216-0711 for international callers) and providing conference ID 5478615.