Why Cresco Labs Stock Climbed 5.8% on Monday
Chicago cannabis company Cresco Labs (OTC: CRLBF) saw its stock rise 5.82% on Monday after being up as much as 10.1% on the day. The stock is down more than 37% so far this year.
The move was the result of several factors, and the stock is up more than 21% over the past month. The one thing that was new Monday was that Pennsylvania Lt. Gov. John Fetterman, a Democratic candidate for the U.S. Senate, said he plans to push President Joe Biden to follow through on campaign promises to decriminalize marijuana at the federal level.
While that's potentially good news for all marijuana companies, Cresco Labs, a large multi-state operator (MSO), is in a better situation to capitalize on decriminalization than many other cannabis companies because of its size and financial strength.
Source Fool.com
