|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||8.10 - 8.54|
|52 Week Range||3.18 - 9.75|
|Beta (3Y Monthly)||2.33|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
It doesn't have the star power of former politicians on its board of directors or flashy videos by Hollywood directors, but Cresco Labs Inc. The company prefers to let its numbers speak and eschews the flash of other cannabis companies. The company recently reported its earnings and along with its results, Cresco presented a slideshow of statistics.
The cannabis products and brands company delivered sizzling growth from its California operations in the fourth quarter.
You might not have even heard of this marijuana stock, but it's bigger than CannTrust and HEXO -- combined.
On April 1, the cannabis company announced that it was being acquired by U.S.-based Cresco Labs, but shareholders were not impressed.
Cresco Labs plans to acquire Origin House. Here are the most important things to know about the major deal.
Shares of Origin House fall Monday, although Chicago-based Cresco Labs Inc. said it was buying the Canada-based cannabis company in a stock deal valued at C$1.1 billion, but the deal did help inspire buying interest in the broader marijuana sector.
Cresco Labs (OTC: CRLBF) is strengthening its presence in California and other markets through the acquisition of Origin House, which is the trade name for CannaRoyalty Corp (OTC: ORHOF). Under the terms of the deal, shareholders of Origin House will receive 0.8428 subordinate voting shares of Cresco Labs for each share they hold. After the transaction is complete, Origin House shareholders will own 20 percent of the combined company.
Cresco Labs Inc. announced Monday a deal to buy Origin House, the registered business name for Canada-based CannaRoyalty Corp. , in a deal valued at C$1.1 billion, or the equivalent of $823.5 million. Under terms of the deal, Cresco will exchange 0.8428 subordinate voting shares of Cresco for each Origin House share outstanding. Based on Friday's closing prices for the U.S.-listed shares, that would value Origin House shares at about $9.48 each, or a 4.9% premium. The deal, which Cresco said is the "largest public company acquisition in the history of the U.S. cannabis industry," is expected to be completed by the end of June. "Following the closing of this acquisition, Cresco brands will be in over 725 dispensaries across the country, giving us the largest and most strategic distribution footprint of any cannabis company in the United States," said Cresco Chief Executive Charlie Bachtell. Cresco's U.S.-listed stock has run up 67% year to date and Origin House's U.S. shares have soared 90%, while the ETFMG Alternative Harvest ETF has climbed 46% and the S&P 500 has gained 13%.
soared as much as 49% Wednesday as many pot stocks rallied. Canada, which last month legalized recreational cannabis, expects to see up to $7.17 billion in cannabis sales in 2019, according to a recent report from Deloitte. rose 9.7% on the New York Stock Exchange to close at $8.49, while Aurora Cannabis Inc.
Aurora Cannabis' sales are surging, and additional capacity and new products could drive revenue even higher next year.