Cresco Stock Sinks Following Acquisition of Tryke Companies

Cresco stock

Cresco Labs Inc (CSE:CL) (OTCQX:CRLBF) has today announced the $282.5 million USD acquisition of Tryke Companies, causing Cresco stock to drop 8.3%.

Investors in Cresco Stock Not Feeling Bullish

Tryke Companies, a medical marijuana firm based in Nevada, has considerable assets in Arizona, Utah, and its home state, which will allow Cresco to establish a market-leading position in those areas. The deal will see Cresco Labs take control of six dispensaries, including Tryke’s flagship location Reef Dispensary located adjacent to the Las Vegas Strip, which has produced over $65 million USD in revenue since 2015. Investors ...

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