3 Reasons Cresco Labs Stock Will Light Up Your Portfolio

Cannabis stocks have had a rough couple of years. The sector's benchmark fund, the Horizons Marijuana Life Sciences ETF, spent most of 2019 and early 2020 sinking, and that period was followed by one during which it largely traded sideways.

But these once-dormant investments began to heat up again in late 2020 and early 2021. And rather than the Canadian players, it's been the U.S. pot companies that are performing especially well. Optimism about the industry's potential and renewed hopes that Congress may act to legalize marijuana at the federal level have sent these stocks higher.

Amid all this bullishness, my eye is on one particular marijuana stock: Illinois-based Cresco Labs (OTC: CRLBF). Cresco's outstanding third-quarter report revealed impressive growth prospects. Over the past 12 months, the pot stock has gained almost 240%, wildly outperforming the S&P 500, which is up by 30% over the same period. Let's review Cresco's results from last quarter, and consider what investors can expect from the company this year.

Source Fool.com