The Explosion May Still Be Ahead for CRESCO LABS ORD (OTCMKTS:CRLBF)

The Explosion May Still Be Ahead for CRESCO LABS ORD (OTCMKTS:CRLBF)

SHARE

The action in shares of CRESCO LABS ORD (OTCMKTS:CRLBF) has been thin but dramatically promising, with the stock blasting higher over the past 3 months to more than double, testing the waters above the $10/share level on Friday. To understand the context, we would point to the company’s recent announcement that it is entering the Florida market through the signing of a letter agreement to acquire the ownership interests or assets of VidaCann Ltd. and/or affiliated entities, one of the largest and most advanced providers of medical cannabis in Florida.

According to the release, “According to Arcview Market Research/BDS Analytics, the medical cannabis market in Florida is projected to increase to $1.7 billion by 2022 primarily based on increasing patient count – there are now currently more than 2,000 qualified ordering physicians and nearly 200,000 registered patients (upon 200,000 patients, VidaCann will have the ability to increase its dispensaries to 35) with total medical patients estimated to reach 550,000 by 2022. With a population of approximately 21 million, the Florida market will increase Cresco Labs’ total addressable consumer base to more than 140 million people.”

CRESCO LABS ORD (OTCMKTS:CRLBF) trumpets itself as a company that manufactures and sells medical cannabis products in the United States. It offers cannabis dry flower; vaporizer forms of cannabis; cannabis oil in capsule, oral and sublingual solutions; cannabis in topical; and other cannabis products.

The company also provides cannabis infused edibles, including chocolate and toffee confections, fruit-forward gummies, and hard sweet and chews. Cresco Labs Inc. sells its products under the Cresco brand.

In addition, it operators a Hope Heal Health dispensary in Fall River, Bristol County, Massachusetts.

The company was formerly known as Cresco Labs, LLC and changed its name to Cresco Labs Inc. in November 2018. Cresco Labs Inc. is headquartered in Chicago, Illinois.

According to the release, “Cresco Labs, based in Chicago, is a leading U.S. cannabis company with experienced management, access to capital and a demonstrated growth strategy. As a differentiated grower, processor and retailer of premium cannabis operating in ten states, the company focuses on entering highly regulated markets with outsized demand potential and high barriers to entry. Its impressive speed-to-market gives Cresco a distinct competitive advantage as it replicates its model to expand its national footprint. Cresco’s proven ability to execute is complemented by a cutting-edge brand strategy spearheaded by several of the brightest minds in consumer marketing in the nation. Cresco’s products are tailored to all major consumer segments: everyday cannabis, medicinally focused, connoisseur grade, and chef inspired edibles by James Beard Award-winning pastry chef Mindy Segal. Learn more about Cresco Labs at crescolabs.com.”

Find out when $CRLBF reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.

As noted above, CRLBF just announced that it is entering the Florida market through the signing of a letter agreement to acquire the ownership interests or assets of VidaCann Ltd. and/or affiliated entities, one of the largest and most advanced providers of medical cannabis in Florida.

We’ve witnessed 17% added to share values of the company over the past month of action. Furthermore, the name has witnessed a pop in interest, as transaction volume levels have recently pushed 95% over the long run average.

“Entering the Florida market is consistent with Cresco Labs strategy of entering markets with outsized demand with strong regulatory structures and is an important milestone for the Company that dramatically impacts our growth trajectory and will be accretive to our earnings in 2019,” said Cresco Labs CEO and Co-founder Charlie Bachtell. “Since relaunching its cannabis program in 2017, Florida has seen tremendous growth in patient registration and is one of the most important markets in the country. VidaCann is the perfect blend of an established operational footprint and infrastructure of professionals that will allow Cresco to execute its disciplined and strategic Florida plan expeditiously.”

Bachtell added, “We look forward to welcoming all of the 100 VidaCann employees to the Cresco Labs family.”

Currently trading at a market capitalization of $231.83M, CRLBF has virtually no cash on the books, which compares with about $188K in total current liabilities. The company is pre-revenue at this point. We will update the story again soon as further details emerge. Sign-up for continuing coverage on shares of $CRLBF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $CRLBF, either long or short, and we have not been compensated for this article.

Sign Up for our 100% FREE Oracle Dispatch Newsletter