Why Cresco Labs Stock Popped Today

Shares of Cresco Labs (OTC: CRLBF) jumped 12.3% on Monday after it announced the opening of a major new marijuana dispensary. 

The cannabis company said its massive new dispensary in South Beloit, Illinois, is now open for business, selling a wide range of recreational-use products. "At 7,208 square feet, this is one of the largest dispensaries in Illinois and across our entire portfolio," said Cresco Labs co-founder and CEO Charlie Bachtell in a press release.

Cresco Labs' stock rose sharply on Monday as investors cheered the opening of its new marijuana dispensary. Image source: Getty Images.

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Source Fool.com