Cresco Labs Trades Near Highs: Buy Now?

2020 was not a particularly great year for cannabis stocks but there were some stocks that performed impressively and one of those was the Cresco Labs (OTC: CRLBF) stock.

The Cresco Labs stock soared by as much as 44% last year and although some other stocks gained more, experts believe that in 2021, it could deliver bigger gains. The company managed to generate as much as $153 million in revenues in the third quarter of 2020.

While it is true that Green Thumb Industries and Curaleaf, it should be noted that Cresco Labs’ market cap stands at a fraction of those companies. Hence, an argument could be made that the Cresco stock might be undervalued at this point.

The company’s wholesale distribution business is the jewel in the crown and experts believe that in the long run, it could generate higher margins for Cresco Labs. Last but not the least, Cresco currently operates 20 retail locations but also holds licenses for 9 more stores.

Cresco Labs Trades Near Highs: Buy Now?

Anthony Gonzales

Biotech, Tech, and Crypto reporterAnthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.