The content of the Label is truncated because of its default size and behavior. By manually setting a sufficient size or using the AutoSize-Property the full content can be displayed. The following code could be used after creating the label to size the label to its content:
self.label1.AutoSize = True
The fact that the message box displayed the full value from the actual control's text hinted to the underlying cause.
Note that according to the documentation the auto sizing default behavior may vary:
When added to a form using the designer, the default value is true. When instantiated from code, the default value is false.