Cresco does something......Tilray couldn'tOr was never able to do. and that was terminate & reverse a VERY bad decision. One which could have put the company in a very precarious & dangerous financial position. I'm not a fan of either company or this dismal sector, BUT you have to give the guys at Cresco Labs their due credit for having the smarts, gumption & ballz to NOT go ahead with & reverse a "proposed" merger with an equally failing & in mired in deep financial troubles, Columbia Care. Sometthing that Tilray & it's Ceo Mr. Simon was not able to do.......or maybe better put.....not having the "fortitude" nor intellect to......when he dealt with his own "unadvised" merger issues......with the "now defunct" HeXXXNo.
https://finance.yahoo.com/news/cresco-labs-columbia-care-mutually-122100855.html
This new devolpment should revive Cresco's stock for a short time & give their s/h some much needed reprieve & time to figure things out. As for Colombia Care, well "things" aren't looking to good or bright for the little company and fully expect the stock to get completely hammered, for some time, after this news. As it will increase the odds of BK or insolvency.......
So big props to Cresco......finally some common sense.......Better for the stronger entities or the eventual survivors if their weaker counterparts go under rather than taking them over & getting yourself into deeper finanical troubles..........Two bad unprofitable businesses usually don't make a good or better larger business when combined. They just make a bigger mess...........
GLTA