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An announcement from Cresco Labs ( (TSE:CL) ) is now available.
Cresco Labs has established an at-the-market (ATM) equity offering program that will allow it to issue and sell up to approximately US$100 million (C$140 million) of subordinate voting shares from time to time through Haywood Securities on Canadian marketplaces. Management says the program adds flexible, opportunistic access to capital to support general corporate purposes and potential acquisitions, with any use of the facility guided by market conditions, the company’s valuation and the availability of accretive opportunities that can enhance profitability and strengthen the balance sheet, underscoring a disciplined capital allocation approach as the cannabis sector matures and regulatory reform advances.
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 moderate strength, while valuation remains weak due to negative profitability metrics. The earnings call provided some positive insights into strategic expansions and debt refinancing, but ongoing market challenges and operational adjustments weigh on the outlook.
To see Spark’s full report on TSE:CL stock, click here.
More about Cresco Labs
Cresco Labs Inc. is a U.S.-based cannabis company focused on branded consumer packaged goods and retail, operating the Sunnyside dispensary chain and a portfolio of popular cannabis brands. The company positions itself as a leader in cultivation, production and branded product distribution, aiming to normalize and professionalize the cannabis industry through a CPG-driven brand strategy, customer-focused retail, and active engagement on legislative and regulatory issues.
Average Trading Volume: 357,601
Technical Sentiment Signal: Sell
Current Market Cap: C$654M
Learn more about CL stock on TipRanks’ Stock Analysis page.