Could Cresco Labs Be a Millionaire-Maker Stock?
After four more states voted to legalize recreational marijuana in the 2020 U.S. election, Cresco Labs (OTC: CRLBF) emerged as but one of many marijuana companies in the market's spotlight. While the stock has lost value since its initial public offering (IPO) in late 2019, the company might be at the very start of its growth journey, as the U.S. market for cannabis products is far from fully realized. Today, Cresco Labs only operates retail locations in nine U.S. states, though this could change rapidly depending on state and local regulations.
So far, Cresco has focused on expanding its collection of cannabis brands and products alongside its retail footprint. After reporting that revenues grew by a shocking 42% quarter over quarter in its Q2 earnings summary, investors have become optimistic the stock might start to deliver sooner rather than later. Could Cresco Labs eventually make millionaires out of people who invest now?
Image source: Getty Images.
Source Fool.com
