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Cresco Labs Inc. (CRLBF)
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The UN voting to de-schedule cannabis will carry a lot of weight when the MORE act reaches the senate JMO
UN Commission on Narcotic Drugs to Take Up Cannabis Scheduling Next Week
The 53 member states of the Commission on Narcotic Drugs, the UN body charged with supervising the application of the international drug control treaties that form the legal backbone of global drug prohibition, is set to meet in Vienna on December 2-4, and it will take up the question of making some modest scheduling changes to the way cannabis is classified.
$TCNNF $CURLF $GTBIF $CRLBF $JUSHF
Looking fwd to seeing IL rec sales for the month of November on Friday, first month of the quarter - October sales outperformed September sales by 12% if that’s repeated for nov then the analysts covering cresco are going to be feeling pretty embarrassed with their estimates, again!
During the last earnings conference call, it seemed like management was inconclusive about any additional M&A possibilities in the near future. I think they should take another look at the Tryke deal which was called off at the beginning of the pandemic especially now that AZ has legalized recreational use. Tryke runs the Reef Dispensaries retail stores all over Las Vegas which has 42 million visitors per year. They own stores in AZ and UT as well and have 160k sf of cultivation in Nevada. That would make a really solid Western region with CA, AZ, NV, and UT.
here comes some profit taking in last hour or so.....let's see how it holds up.
MJ Stock Trader
Cresco Labs Launches Eighth Cannabis Brand, Wonder Wellness Co.(TM)
7:30 AM ET 12/1/20 | BusinessWire
Wonder debuts in Illinois with low-dose Wonder Minis hard sweets for category newcomers to consume and control their experience with confidence
CHICAGO--(BUSINESS WIRE)--December 01, 2020--
Cresco Labs (CSE:CL) (OTCQX:CRLBF) ("Cresco" or "the Company"), one of the largest vertically integrated multistate cannabis operators in the United States, announced today the launch of Wonder Wellness Co. ("Wonder"), the newest brand to join its expanding portfolio of national cannabis brands. Wonder addresses the direct needs of the large segment of consumers who are accepting of cannabis but have yet to enter the category. Created to take the guesswork out of cannabis, the portfolio offers low-dose, approachable forms that are simple to use with packaging that is easy to understand, so newcomers can explore the plant and control their experience with confidence. The brand debuts in Illinois with Wonder Minis, a line of 3 mg hard sweets focused on effects-driven benefits.
This press release features multimedia. View the full release here:
Cresco Labs launches newest brand, Wonder Wellness Co., in Illinois with Wonder Minis, a line of 3 mg hard sweets. (Photo: Business Wire)
"A top priority of our business is to build the most important and trusted portfolio of national cannabis brands that appeals to and supports a variety of consumers," said Greg Butler, Chief Commercial Officer at Cresco Labs. "Cannabis acceptance in Illinois is now mainstream and consumption is growing; however, there are still 38 percent of adults aged 21 and older who are not currently consuming cannabis but are open to it. This is a sizable audience who could benefit from the plant if offered products that met their direct needs. With Wonder, our goal is to drive continued wholesale growth through approachable, low-dose effects-driven products that newcomers can confidently consume to find the right balance and satisfy a desired experience."
Wonder Minis are the first low-dose (3 mg THC or less), effects-driven hard sweets to arrive in the Illinois market. Each of the three Wonder Minis has a distinct blend of botanically derived terpene formulas, containing a total of 3 mg of cannabinoids per hard sweet. Laugh (Tangerine flavor) offers 3 mg THC; Sleep (Plum flavor) has 2 mg THC and 1 mg CBD; and Relax (Blueberry flavor) provides 1 mg THC and 2 mg CBD. Wonder Minis also represent the first dry blended and pressed product to enter Cresco's House of Brands. The development of Wonder Minis involved new manufacturing and infusion processes to obtain low doses per serving, along with a new tablet pressing and tablet packaging lines.
"It is our obligation as a leader in the industry to invest in solutions that will appeal to the needs of the broader audience who isn't a consumer but is interested in cannabis," said Cory Rothschild, SVP of Brand Marketing at Cresco Labs. "When you think about the needs of cannabis newcomers, their needs look quite different than experienced consumers. They might feel intimidated or worry than only an expert can enter a category filled with intimidating forms, potencies and packaging. It was clear to our company that we needed a brand that would speak directly to this group and offer products that would meet their preferences and ease their hesitations. We've developed Wonder to be a trusted and guided source for education so that new consumers can start their cannabis journey with confidence."
Cresco Labs is the largest wholesaler of branded products in the industry with $90.5 million in wholesale revenue. The launch of Wonder grows Cresco's portfolio to eight cannabis brands--Cresco, Mindy's Chef Led Artisanal Edibles, Remedi, Cresco Reserve, High Supply, Good News, FloraCal and Wonder Wellness Co.--all developed with differentiated positionings and products to meet the diverse needs of different consumers.
Wonder will expand to Cresco Labs' other operational markets soon. For more information on Wonder, please visit wonderwellness.co.
No resistance in sight for Cresco labs until 14.50-14.75. Gonna to be a good couple days. Think we can break 20$ before the end of the year?
Some trader did a fine job of "painting the tape" at EOD. I hope no one takes the bait and panic sells tomorrow morning. The shorts are getting nervous.
Hmm.. not sure if this would pertain to cresco and their medical license application that they weren’t successful in obtaining. Maybe co can ask ir since he’s the in,y who gets a response lol.
Huge runway still. Would not surprise if +30% in the next month
Can anyone explain why Canadian cannabis stocks are all soaring but now USA based companies?
isnt this overvalued at this point?
i went golfing yesterday and found a Cresco cartridge in my golf cart. This is going to 15 soon.
Cmon Cresco you're the only one left that needs to go green....
Cresco Labs Launches Eighth Cannabis Brand, Wonder Wellness Co.™
And here we go... Trying to plant those seeds of doubt to manipulate the uninformed investor.
I've seen a lot of good discussion on SAFE & MORE acts, decriminalize vs. legalize, etc. It appears full passage of MORE or any federal legalization of cannabis will allow the U.S. MSOs to uplist to NYSE or NASDAQ - correct me if I'm wrong.
The SAFE act is no-brainer since opens up cheap financing but would passage of this act allow more institutional investing in these OTC stocks and/or allow uplisting? Does not appear so to me.
Also, it appears to me that MORE act would open the flood gates to a lot more competition which on the surface to me, would not be a good thing for the top 4 U.S. MSOs in the long run.
Please comment and help me get things straight here. Thanks
Good morning Becky how are you today hope the markets treating you well I hope all your Canadian LPs are doing well And continue to outperform the US MS Lowe’s
Cresco Warrants. Hard to get but slowly loading the boat.
Long term I see Cresco pretty high up there so I love the warrants.
Most undervalued MSO. At some point it will take off just like Aphria has done in last week or so.
I really can’t wait until we are up listed to a major exchange! It’s really frustrating watching these companies who are losing billions and little revenue shoot up 20% week in and week out😡 $GTBIF $TCNNF $CURLF $CRLBF
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