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Cresco Labs Announces the Opening of Its First Five Sunnyside* Dispensaries
https://investors.crescolabs.com/investors/press-releases/press-release-details/2019/Cresco-Labs-Announces-the-Opening-of-Its-First-Five-Sunnyside-Dispensaries-and-the-Launch-of-Sunnysideshop-in-Preparation-for-First-Day-of-Adult-Use-Cannabis-Sales-in-Illinois/default.aspx?fbclid=IwAR0V60pyPX7yEphCryFpJQPsX5glKOt_5E3taRj6W5EOiiM3Zq-VHou3ah8
Cresco Labs Announces the Opening of Its First Five Sunnyside* Dispensaries
https://investors.crescolabs.com/investors/press-releases/press-release-details/2019/Cresco-Labs-Announces-the-Opening-of-Its-First-Five-Sunnyside-Dispensaries-and-the-Launch-of-Sunnysideshop-in-Preparation-for-First-Day-of-Adult-Use-Cannabis-Sales-in-Illinois/default.aspx?fbclid=IwAR0V60pyPX7yEphCryFpJQPsX5glKOt_5E3taRj6W5EOiiM3Zq-VHou3ah8
At least Cresco got mentioned in the last paragraph:
"The year 2020 will see a return to fundamentals that should bode well for disciplined investors that avoid risky stocks. Some of the stocks that fit these requirements include Green Thumb, Curaleaf, Cresco Labs, and Trulieve. We remain of the view that the U.S. cannabis sector holds much larger potential than the Canadian sector due to its growth prospects and the key catalyst of potential federal legalization in the future. We look forward to sharing our 2020 outlook in the new year."
https://seekingalpha.com/article/4314464-weekly-cannabis-report-winners-and-losers-of-2019
Ok, this is over the top, but this is what I think is going to happen to both Cresco & their product in the near future. I really really think so. If it sounds familiar it's the Pixel 4 song. Enjoy.
It's like he read my mind. Totally in sync with this article.
https://www.forbes.com/sites/alanjbrochstein/2020/12/29/illinois-is-an-underappreciated-cannabis-catalyst/#4ab2fb33f9eb
Bobby, Can I borrow your math for another board?
I have spread your fame at posting again (giving you credit of course). I posted this for myself on Stockhouse only on one board for a stock I use to be in. I really believe every word I posted. Has just over 100 reads so far.
I was in FSDDF a few years ago
I stopped paying attention after the buyout of Terapix fell through. I guess everything has changed now with the reverse split and the the listing on the NASDAQ. I wish you all well, however I wanted to mention the stock I'm in Origin House/CannaRoyalty, C.OH/ORHOF. It is being bought by Cresco, C.CL/CRLBF who is a MSO with headquarters in Chicago. Illinois goes recreational Jan.1 and Cresco is a major player there. Origin is dominent in CA. In US $ CRLBF closed at $6.15 and Origin at $3.93 on Friday. All the legal hurdles are done and proxy share voting closed on Friday. The last pR said with 47% of the eligable vote counted there was a 99% yes vote. I mention this because if you buy Origin 1 share will get you .7031 shares of Cresco. That means there is still a 10% premium when the Origin shares are converted probably the middle of January. Do your own DD of course, but I can almost guarentee your money will be treated better there. Disclosure I have 17,500sh@$3.63 of ORHOF. The main reason I'm posting here is because I lost a lot of money here when they promised, but never delivered and to help anyone that was in the same boat I was in.
Seems like Cresco has better places to spend it's money right now.
Yeah, they'll have to depend somewhat on tourists and people that want guarantied quality and/or just don't want to deal with the black market. I think as different states compare results they'll get the hang of the tax thing, but it will take a while. I understand Michigan taxes are much lower.
Mind if I share that elsewhere Funman?
Welcome. I bought ORHOF shares which will convert to CRLBF shares next month if the vote goes as expected. There is still a premium available if you choose to do it that way.
Couldn't agree more. The volume was absolutely anemic today and I suspect this is the calm before the storm. Just think the coverage the press will give to Illinois Jan.1 The vote ends 10AM tomorrow morning and 1. I bet they announce the results before the close and 2. Just about 100% of the remaining votes would have to be NO for the merger not to be agreed to.
From the conference call here's what we can expect to start happening in a week.
"As Illinois ramps up to the 500 retail dispensaries that the law allows, clearly, we see benefits from having more supply capacity than anyone else in the state. Our brands are already well established and we expect to continue distributing our products to 100% of the Illinois retail dispensaries; beyond that, we have five dispensaries of our own that will be up and running on Jan 1 with licenses to open five more doors."
https://seekingalpha.com/article/4309343-cresco-labs-inc-crlbf-ceo-charlie-bachtell-on-q3-2019-results-earnings-call-transcript?page=3
I've had GTC order to sell my XLPI shares I got as a dividend. 4,750 sold for $.0001 on 12/24/2019.
I am now a proud owner of 17.5k ORHOF@$3.683 which should convert to 12,304 CRLBF@$5.77 if done today. The premium is currently 1.076 (x current balance). Looks pretty good it's going to happen!
https://originhouse.com/origin-house-reminds-shareholders-voting-deadline-for-cresco-transaction-is-friday-december-27-2019/
Still 99+ yes vote on almost 50% counted.
I am now a proud owner of 17.5k ORHOF@$3.683 which should convert to 12,304 CRLBF@$5.77 if done today. The premium is currently 1.076 (x current balance). Looks pretty good it's going to happen!
https://originhouse.com/origin-house-reminds-shareholders-voting-deadline-for-cresco-transaction-is-friday-december-27-2019/
Still 99+ yes vote on almost 50% counted.
That's nice to know, but unfortunately doesn't answer my question. They are a well know company an a MSO so you'd think they would include in MJ company comparisons. Why are they left out?
Can anyone tell me why Cresco is hardly ever included in comparisons like this? The article is about Hexo, but is it because of Canada vs. U.S. or what? https://grizzle.com/hexo-q1-2020-earnings-sink-or-swim/?ck_subscriber_id=271324206
Lookin Good!
https://mjglobalreport.com/cannaroyalty-cnsxoh-otcmktsorhof/
"A merger of the two companies will result in a combined company with licenses for up to 51 retail locations. The combined company will also boast of 1.5 million square feet of cultivation across 11 states in the U.S.
Amidst the acquisition drive, Origin House has continued to fire on all angles as it continues to work on its core business. A 244% increase in revenues in the third quarter that came in at $22.8 million underscores a company in a phase of robust growth."
$ORHOF Did everyone see in the CEO's interview he wants their product in all 500 (most of them new) outlets in Illinois in stead of just a small group of stores?
It's about 2 minutes in.
LOL! :¦» Well, it is Chicago.
If the mayor DOESN't veto it there are going to be a lot of angry people.
Funny thing is it says Cresco already owns Origin. Nice to be in the same category as Apple.
https://moneymorning.com/2019/12/17/these-are-the-5-best-stocks-to-buy-for-the-next-decade/
Cresco Labs Named U.S. Cannabis Industry Game Changer at the MJBizDaily Awards in Las Vegas
https://marijuanastocks.com/ticker/?symbol=CRLBF
CEO of Cresco:
Picked up 50 shares of CRLBF & 3,398 more shares of ORHOF (total 9,750@$3.25). If all goes well I should end up with 6900+ shares of CRLBF. Sure hope so as I took some money from my retirement account (taxable) to pay for it.
Well the 'F' is for foreign which means Canadian penny stocks subject to manipulation. A lot of people have been burned by fraudulent stocks on the Vancouver stock exchange. Not the case here of course. Picked up 50 shares of CRLBF & 3,398 more shares of ORHOF (total 9,750@$3.25). If all goes well I should end up with 6900+ shares of CRLBF. Sure hope so as I took some money from my retirement account (taxable) to pay for it.
I realize this might constitute pumping, but what's not to like?
9 Buys Not 1 Hold or Sell. Average Target Price: 11.77
https://www.marketwatch.com/investing/stock/crlbf/analystestimates
Anyone know what it would take to get rid of the 'F' (foreign)and become a 4 letter stock symbol?
$ORHOF https://www.fool.com/investing/2019/12/14/4-cannabis-stocks-to-play-illinois-budding-marijua.aspx
Mentions Cresco. Didn't know they are allowed a maximum of 10 locations.
$ORHOF https://www.fool.com/investing/2019/12/14/4-cannabis-stocks-to-play-illinois-budding-marijua.aspx
Mentions Cresco. Didn't know they are allowed a maximum of 10 locations.
Is anyone surprised by how well Cresco pps is holding up? I mean it has every right to with the extra $50M added to the balance sheet, the harvest, and Illinois going recreational Jan.1, but still, the premium is so large. 1.266 x your current balance.
(CRLBF PPS x .7031) divided by ORHOF PPS X your balance = CRLBF balance after conversion.
Premium tightening down to 26.666%
Gap down to 26.666%
Cresco $6.49 x .7031 = $4.56
Origin $3.60
Gap $.96
$.96/$3.60 = 26.666%
Yes, and the window is closing fast.