COMPASS’ Securities Purchase Agreement Is Big News

It’s still cannabis earnings season, but we’re also turning to look at some of the news from the psychedelics industry. This Trade To Black Podcast, Shadd Dales, Anthony Varrell, and Benjamin A. Smith take a more granular look at Cresco Labs, Columbia Care, and the news about COMPASS Pathways’ security purchase agreement.

Cresco Labs (CSE:CL) (OTCQX:CRLBF) released their Q2 2023 results earlier this week, and their figures are pretty impressive. A Q2 revenue of $198m, up 2% sequentially, driven by retail growth of 4% and flat wholesale revenue. A gross profit of $87m, adjusted gross profit of $93m, and adjusted gross margin of 47% is just a few of the highlights. This report both met analysts’ expectations and showed significant improvement compared to the previous quarter. Adjusted EBITA stock rose to $40.9m, up from $9m in Q1.