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Cresco Labs Inc. (CL.CN)

Canadian Sec - Canadian Sec Real Time Price. Currency in CAD
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3.6700-0.4100 (-10.05%)
At close: 03:59PM EDT

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  • G
    Gary
    What's up with this? Notification found on my Fidelity account.

    IIROC Trading Halt - CL.WT
    BY Canada NewsWire
    — 12:18 PM ET 09/23/2022
    VANCOUVER, BC, Sept. 23, 2022 /CNW/ - The following issues have been halted by IIROC:

    Company: Cresco Labs Inc. (CRLBF)

    CSE Symbol: CL.WT

    All Issues: No

    Reason: Pending Delisting

    Halt Time (ET): 12:00 PM

    IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.
  • A
    Andy C
    Some excerpts from an article about NY moves to opening day sales:

    'New York smokes more weed than any other city in the world. So the state can’t afford to fumble the debut of this multi- billion-dollar market due to lack of supply. Here’s where multi-state operators (MSOs) like Curaleaf and Columbia Care come into the picture.'

    'There are 10 MSOs already operating in New York’s medical cannabis industry. They obviously want in on the adult-use market, and are positioned to expand and meet the new demand quickly. There’s only one problem.

    New York wants them to pay a $20 million license fee to join its adult market.

    It seems that the state intends to use MSOs to solve two problems: Meet the immediate day-one demand, and fund the start-up of the country’s most ambitious social equity program. But MSOs like Columbia Care want to see some financial justification for the number before agreeing to pay it. The ensuing back and forth could also delay things.'

    https://www.leafly.com/news/industry/when-will-new-york-start-legal-weed-sales-2023
  • J
    JOHN
    say goodbye $3 today....
    weren't we just at $4.45....?????
  • C
    CPer
    I am a long and just added a tad over 400 shares!!!
  • A
    Andy C
    Yahoo says Cresco has a $956 million market cap...about 3X sales and just weeks away from getting $300+ million cash from divestment. This is undervalued on a massive scale.
  • N
    Nick
    Does anyone know when the asset sales will be announced? Last Q they said about 30 days, and it's been over 30. Starting to worry there's material chance of deal falling through. Cresco would not have much money if that were the case and would have to do a dilutive raise most likely.
  • K
    Kev
    How about all those 'store and dispensary openings'? And, 'generational wealth'? Even in the event Safe passes in Dec (which it won't) - retail will still remain in a massive hole. The only question now is will Msos go to zero (yes, zero), or will they be bought for pennies on the dollar. Mica, Casual and Pebbles forgot to tell you that part.
  • K
    Kev
    This is the bounce? 'Up' to 3.18? Will DrugsAreGood tell us how good this stock is when its at $1.25 ? How about $0.88 ? Is there such a thing as a bottom for this stock?
  • D
    DrugsAreGoodForU
    .08% (8 basis points) of the outstanding shares traded yesterday. Given the inability of institutional and in many cases retail to buy this stock it can't really be considered a public offering yet. Imagine when a real buyer can legally step in and start making individual purchases greater than the daily volume.
  • K
    Kyle
    When the news hits that the politicians are done screwing everyone and meaningful legislation happens this is going to rip high fast and all the D bags dogging this board can eat a big one! I'm going to keep adding shares. I am patient and this sector is inevitable. I'm not going to repeat March 2020 when I wished I would have bought more. the time to really accumulate is now. cresco is an exciting company with a great product people want. I am an owner and will ride this out
  • c
    chad
    SALE!!!!!!!!!!!!!!!!!!! I got more yesterday. Chance of a lifetime in my opinion. Long.
  • B
    Brodband
    So as of 6/30/22 they had only $89m. in cash and had $467m. in long term debt. The CC deal and dissolution of some assets for cash is the only hope for either one of these companies. If the deal falls apart or they can't recoup some serious value for the dissolution assets it is over without considerable dilution. At the current share price even a dilutive capital raise will kill current shareholder value. I only hope these dissolution properties are under contract or it is game over. This has turned out to be a disaster. Paul can whine about the political aspect of the current cannabis market but saturation and over build are equally responsible.
  • K
    Kev
    Let me put this in perspective... off the top of my head, in the last 3.5 yrs, Tesla has gone up about 23x, and from that all time high, shave off a MODEST 22% up until today. If you bought Cresco 3.5 yrs ago - before covid, you would be STRAIGHT OUT DOWN about 40%. Enjoy that bagholding and opportunity cost.
  • K
    Kev
    Nothing from the pumpers today? Where are Casual and Pebbles? All those store listings? Mica telling you what a good deal this sector, the whole -80 or -90 % (see Ayr) down? Go look at Nbev's graph. Pumpers there were saying the same thing.
  • K
    Kev
    Prediction, due to market and interest rates and NY never ending social equity, Cresco does not get near top dollar for NY assets - or, get ready, because of that, Columbia pulls out and the merger doesn't go through. So retail can get ready to lose a lot, or, a TON.
  • G
    George M
    Sept 13, 2022 : Global cannabis sales will grow to $57 billion in 2026, according to the latest projections from BDSA, a top Colorado-based cannabis market research firm. Furthermore, in the U.S., cannabis sales will skyrocket to $42 billion in 2026, which will make up 75% of total global cannabis sales. And, despite concerns caused by inflation, legal cannabis sales in the U.S. will surge to $27 billion by the end of this year, a 7% jump over last year's sales of $25 billion.
  • H
    Hal
    give that cow a push
    I think, getting to the tipping point now. The economy is failing to point that powers of all persuasions will soon slap themselves in the forehead, call it a brainstorm, and decide it's high time for Safe banking, or federal legislation, or both. CRLBF will have become a straw worth grasping.
  • c
    chad
    Buyers paradise. imo.
  • K
    Kev
    Does anyone recall anyone saying that this stock is pegged to the 2s ? (again)