Here's a Good Reason to Buy Cresco Labs Stock Sooner Rather Than Later

Your opinion of Cresco Labs (OTC: CRLBF) these days could hinge on how you look at the proverbial glass of water. If you're a half-full kind of person, you'll focus on the fact that Cresco's shares have jumped more than 40% since early July. If you see the glass as half-empty, you'll place more emphasis on the equally true statement that the stock is still down more than 45% year to date.

Cresco announced its second-quarter results on Wednesday. CEO Charles Bachtell acknowledged that the cannabis operator faces "an unprecedented macro environment." However, the company's second-quarter update also underscored a good reason to buy Cresco Labs stock sooner rather than later.

Some investors might have been disappointed by Cresco's Q2 results. However, they really weren't all that bad considering those macro headwinds Bachtell referenced. The company's Q2 revenue of $218 million was just a little shy of the consensus estimate of $218.4 million. Cresco posted a net loss of $8.3 million, but that's not anything to panic about.

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Source Fool.com