This cannabis stock has a lot of growth potential

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Investors exploring cannabis stock options have a strong option to consider

A growth stock is a name given to the shares of those companies that are in an expansion phase and, for that very reason, whose price is expected to continue to rise over time. Although in the investment world, the growth stock is not a specific type of stock, it is possible to say that it is for investors in practice; because they are called this way to distinguish them from other types of companies, which have very different behaviors in the markets, including the cannabis market. There is one current cannabis stock that ticks all the boxes for entry among the so-called growth stocks.

One of the most popular investment strategies today is to buy growth stocks. This is because these are stocks of companies that can generate huge profits and large price increases outperforming other investment options within their respective sectors. When it comes to cannabis, Cresco Labs is the right answer.

The Illinois-based firm may not have a large number of dispensaries like some of its stronger competitors, but that doesn’t mean its growth is an early realization thanks to the way it strives day in and day out. The company’s fiscal 2021 report (ended December 31, 2021) indicated that the company had revenues of $822 million. While 2022 results are expected to be announced in March, its revenue for the last 12 months is $860.89 million.

Moreover, this stock is set to become the most attractive once the company completes the acquisition of another cannabis company, Columbia Care. The deal is expected to be completed by the end of June, which would add another 130 dispensaries to Cresco’s portfolio. This, in conjunction with its efforts to achieve long-term profitability by closing underperforming facilities to save money, makes Cresco the safe investment of the year.

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