#4 - Cresco Labs (OTCMKTS:CRLBF)
Another cannabis company taking a slow but steady approach to profitability is Cresco Labs (OTCMKTS: CRLBF). The company is one of the largest multi-state cannabis operators in the United States. Cresco has operations in 19 retail locations in nine states, including California, home to the United States' largest legal marijuana market.
Last quarter, Cresco reported a 42% increase in revenue from the prior quarter. And the growth was evenly distributed in every state that Cresco operates in. In fact, the company saw growth of at least 30% in every state but one. And that state, Massachusetts, temporarily halted sales of recreational marijuana.
And now Cresco is looking to expand its operations. It is expecting to open 10 more retail locations. Plus, it plans to increase market penetration in California. And because the company does not have a presence in 24 states where cannabis is legal, it has even more room for growth.
About Cresco Labs
Cresco Labs Inc, together with its subsidiaries, cultivates, manufactures, and sells retail and medical cannabis products in the United States. It provides cannabis in flowers, vape pens, live resins, disposable pens, and extracts under the Cresco brand; vape carts, vape pens, flower, popcorn, shake, pre-rolls, shorties, and concentrates under the High Supply brand; vapes and gummies under the Good News brand; vapes and edibles under the Wonder Wellness Co brand; and tinctures, capsules, salves, and sublingual oils under the Remedi brand.
Read More - Current Price
- $1.91
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 3 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $16.00 (737.7% Upside)
