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Cresco Labs ( (TSE:CL) ) has shared an update.
Cresco Labs announced the results of its annual general and special meeting of shareholders, where seven directors were elected, and Baker Tilly US, LLP was appointed as the auditor for the upcoming year. Shareholders also approved the company’s Award Exchange Program, allowing employees to exchange underwater options for full value awards, aligning pay with performance. These decisions, approved by at least 96% of votes, aim to strengthen Cresco Labs’ operational and strategic positioning in the cannabis industry.
The most recent analyst rating on (TSE:CL) stock is a Hold with a C$1.50 price target. To see the full list of analyst forecasts on Cresco Labs stock, see the TSE:CL Stock Forecast page.
Spark’s Take on TSE:CL Stock
According to Spark, TipRanks’ AI Analyst, TSE:CL is a Neutral.
Cresco Labs’ overall stock score is primarily impacted by its financial performance challenges, including declining revenues and high leverage. Technical analysis shows some positive momentum, but valuation concerns persist due to negative profitability. The earnings call highlighted strategic initiatives and operational strengths, but ongoing market challenges and price compression remain significant risks.
To see Spark’s full report on TSE:CL stock, click here.
More about Cresco Labs
Cresco Labs is a prominent player in the cannabis industry, focusing on cultivation, production, and distribution of branded products. The company aims to professionalize the cannabis sector through a consumer packaged goods approach, offering a diverse portfolio of national brands and operating dispensaries under the Sunnyside brand. Cresco Labs is committed to community engagement, economic opportunity, and legislative initiatives to foster a responsible and robust cannabis industry.
Average Trading Volume: 347,700
Technical Sentiment Signal: Sell
Current Market Cap: C$586.7M
See more data about CL stock on TipRanks’ Stock Analysis page.