3 Reasons to Buy Cresco Labs, and 1 Reason to Sell
The coronavirus pandemic has dragged on revenue and profits across sectors and around the world. Surprisingly, the marijuana sector has been an exception; U.S. pot companies in particular have seen sky-high sales amid the crisis due to the growing demand for pot, both medical and adult-use. Cannabis, which was declared an essential item during lockdowns, is known to help with anxiety and stress.
And these businesses now have all the more reason to celebrate, as more states have been added to the legal cannabis list after November's elections. A total of 35 states and the District of Columbia have now made medical cannabis legal, while 15 states and D.C. have done so for recreational cannabis. This provides immense opportunities for U.S. cannabis companies to expand both their reach and their revenue. One such business, Illinois-based Cresco Labs (OTC: CRLBF), saw particularly impressive revenue growth in its third-quarter fiscal 2020 results, reported Nov. 18. Here are three reasons this stock is worth investing in for long-term returns, plus one potential reason to reconsider.
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Source Fool.com