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Cresco Labs Inc. - CRLBF STOCK NEWS

Welcome to our dedicated news page for Cresco Labs (Ticker: CRLBF), a resource for investors and traders seeking the latest updates and insights on Cresco Labs.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Cresco Labs's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Cresco Labs's position in the market.

Rhea-AI Summary
Cresco Labs opens new dispensary in Pennsylvania
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-6.01%
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none
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Rhea-AI Summary
Cresco Labs expands brand portfolio in Florida with FloraCal and Cresco brands, offering premium quality flower and live rosin products.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.23%
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Rhea-AI Summary
Cresco Labs opens second Sunnyside dispensary in Jacksonville, Florida, bringing the total store count to 33 in the state and 70 nationally.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-11.57%
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none
Rhea-AI Summary
Cresco Labs becomes the first cannabis company to launch cannabis advertisements on Spotify, targeting its core shoppers in Illinois.
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End-of-Day
14%
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Rhea-AI Summary
Cresco Labs Inc. to participate in upcoming conferences in September and October
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Rhea-AI Sentiment
End-of-Day
5.43%
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conferences
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Rhea-AI Summary
Cresco Labs Inc. reported strong financial results for the second quarter of 2023, with revenue of $198 million, a 2% increase sequentially. The company achieved a gross profit of $87 million, representing 44% of revenue. Adjusted EBITDA increased by 38% to $40 million, with a margin improvement of 540 basis points to 20%. The company also generated positive operating cash flow of $18 million. Despite a net loss of $43 million, Cresco Labs maintained its leadership position in key markets and saw growth in branded products.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.81%
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Rhea-AI Summary
Cresco Labs, a leading cannabis producer, has opened its 32nd Florida dispensary in Palm Bay. The new store is located along a high-traffic retail corridor and brings the company's nationwide network to 69 dispensaries.
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End-of-Day
-1.91%
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Rhea-AI Summary
Cresco Labs and Columbia Care have mutually agreed to terminate their planned acquisition. There are no penalties or fees associated with the termination. Both companies believe this decision is in their long-term interest. Cresco Labs will focus on restructuring low-margin operations and improving competitiveness, while Columbia Care will leverage its operational and strategic strength to become one of the most profitable companies in the industry.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.76%
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Rhea-AI Summary
Cresco Labs expands partnership with Khalifa Kush to exclusively cultivate, manufacture, and distribute premium cannabis products in Massachusetts. Flower and pre-rolls will be available at Sunnyside dispensaries starting July 22.
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Cresco Labs Inc.

OTC:CRLBF

CRLBF Rankings

CRLBF Stock Data

675.05M
170.74M
0.6%
7.97%
Medicinal and Botanical Manufacturing
Manufacturing
Link
US
Chicago

About CRLBF

cresco labs llc is an illinois medical cannabis company, licensed to develop and operate medical cannabis cultivation centers in police districts 5, 9 and 21, according to illinois’ office of the governor. cresco labs exceeded the state’s rigorous qualifying standards, receiving the highest scores of any cultivation center applicant to obtain three of 18 total awarded cultivation licenses as part of the illinois medical cannabis pilot program.