Cannabis stocks, which had a pretty hard time not too long ago, have made a strong comeback this year so far and one of the major gainers so far has been the Cresco Labs (OTC: CRLBF) stock.
The Cresco stock has been on a tear in 2021 and so far it has managed to rally by as high as 700% so far. In light of such gains, it could be a good idea for investors to take a bigger interest in the company. The company has managed to expand its presence in several of its existing markets. At this point, it is the biggest wholesaler of cannabis in the lucrative market in California. On the other hand, Cresco has also emerged as the biggest retail operator in Illinois.
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At this point, its operations are spread over as many as nine states in the United States. The company’s market cap is still not at par with many of its competitors and hence, there could be some more upside to the stock this year.
Finance and Tech Contributor