With the recent market declines, bargain cannabis stocks have become even more affordable for new investors. Cresco Labs (OTC: CRLBF) is one that has strong potential, especially for long-term investors.
Cresco Labs is one of the leading multi-state operators in the American market. Based in Chicago, the company is a large-scale cultivator of medical-grade cannabis. It distributes to both medical and adult-use customers. Cresco also focuses heavily on regulatory compliance, aiming to maximize its products under the full extent of state and federal laws.
California is Cresco’s strongest market, where it has the largest presence of any of its peers. Long term, analysts see this company as the most likely to break the $1 billion sales barrier ahead of its competitors. While it could take years to see this growth, it’s promising to see Cresco’s recent performance. In the previous quarter, executives reported a 184% year over year increase in revenue.
There’s a high level of risk in the cannabis market, but with an increased push for legalization at state and federal levels, Cresco has the potential to grow its revenue and reach profitability in the years to come. This bargain stock represents a low-cost entry point into an exciting market.
- 1 Year Price Growth: -79.73%
- YTD Price Growth: -62.23%
- 3 Month Price Growth: -60.46%
All information is based on current and historical market data, as well as publicly available financial data. As with any financial decision, your own research is important. Stock market outcomes can never be 100% accurately predicted. Familiarity with historical data, individual industries, and individual stocks is key to developing a robust portfolio. Note that stock prices can fluctuate rapidly during trading sessions.