|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||8.57 - 9.21|
|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 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.
Cresco Labs Inc. (“Cresco Labs” or the “Company” – CSE: CL, OTCQX: CRLBF) and CannaRoyalty Corp. d/b/a Origin House (“Origin House” – CSE: OH, OTCQX: ORHOF) today announced that Charlie Bachtell, CEO & Co-Founder of Cresco Labs, and Marc Lustig, Chairman & CEO of Origin House, will be presenting and meeting institutional investors together at Canaccord Genuity’s 3rd Annual Cannabis Conference on Tuesday, May 14, 2019 in New York City. The Annual Cannabis Conference provides attendees the opportunity to gain valuable insight into the rapidly-developing cannabis industry from some of the industry’s leading experts.
In the course of a few months, Cresco Labs (CRLBF) (TSE:CL) has gone from obscure market player, not even listed on the CSE, to a leading cannabis company with the acquisition of Origin House (ORHOF). The company has the projected revenues to match the large Canadian companies, but the projected market valuation of a smaller stock fitting of its obscure standing.No Longer ObscureThe multistate cannabis operator in the U.S. was listed on the CSE under the symbol “CL” back in December. Shortly after, Cresco Labs released Q3 results with revenues of $12.2 million, up 51% sequentially. The pro-forma numbers that include results of less than majority owned affiliates were up at $16.3 million.Like a lot of companies in the industry, Cresco Labs was in the midst of substantial growth into new markets. The company has just recently entered both the Florida and Michigan markets and is doubling cultivation and production in key states like Illinois and Pennsylvania. To further that expansion, the MSO announced the merger with Origin House to suddenly create one of the most valuable cannabis companies in the North American industry.The deal values Origin House at C$1.1 billion based on an offering of C12.68 per share for the company that focuses on cannabis distribution throughout the large California market. According to internal estimates, the new Cresco Labs will have a fully diluted market valuation of ~C$5.5 billion (or ~$4.1 billion based on exchange rates).Source: Cresco Labs/Origin House merger presentationOrigin House delivers over 50 cannabis brands to more than 500 dispensaries in California, a market estimated to reach cannabis sales of $7.7 billion by 2022 according to Arcview Market Research. The new company becomes a powerhouse in the U.S. market with operations in 11 states, 23 facilities, more than 1.5 million square feet of cultivation, and licenses to operate up to 51 retail dispensaries and sold in over 725 dispensaries in the U.S.Impressive SizeDespite being under the radar, Cresco Labs was already progressing towards a large business by 2020. The addition of Origin House pushes 2020 sales estimates up to $775 million and 2021 numbers top $1 billion. The EBITDA goal tops $200 million and $300 million, respectively.Source: Cresco Labs/Origin House merger presentationThese revenue targets place Cresco Labs on pace to match the revenue goals of the largest Canadian industry leaders that have market valuations of 2-5x the level of this stock. The focus on domestic markets versus the global expansion plans of the Canadian companies should lead to higher margins for domestic players allowing for those 30% EBITDA targets.TakeawayThe key investor takeaway is that Cresco Labs is a suddenly large domestic cannabis company without the massive stock valuation. Per revenue estimates of management, the stock only trades at ~4x ’21 revenue targets.For anybody interested in the industry, Cresco Labs is the far better deal, but a lot of risk still exists in getting from quarterly revenues of $12 million to a target of $250 million per quarter in just two years. A lot still has to go right to reach these targets as the company enters new markets, expands cultivation and production while closing on the Origin House acquisition.To read more on the nitty gritty of what’s going on in the rising cannabis industry, click here. Disclosure: The author has no position in CRLBF/CL. The information contained herein is for informational purposes only. More recent articles from Smarter Analyst: * Is This Breakout the Time to Be Buying Canopy Growth (CGC) Stock? * The Future Keeps Looking Brighter for Cannabis Stock Curaleaf * Here's Why Susquehanna Is Neutral on Advanced Micro Devices (AMD) Stock * General Electric (GE) Stock at $14-16 a Share? This Analyst Thinks It’s Possible