Cresco Labs Inc: Giant Opportunity Ahead for This Pot Stock?Why This Pot Stock Deserves a glance
Cresco Labs Inc: Giant Opportunity Ahead for This Pot Stock?
Cresco Labs Inc: Giant Opportunity Ahead for This Pot Stock?Why This Pot Stock Deserves a glance
If you would like a bit of the action within the fast-growing cannabis industry, Cresco Labs Inc (OTCMKTS:CRLBF, CNSX:CL) stock deserves a significant look.
Now, i do know what you're thinking. Cresco stock is listed on the Canadian Securities Exchange and also happens to trade over the counter within the U.S. Since there are pot companies that already listed on major U.S. stock exchanges, why are we still talking about an over-the-counter pot stock?
Well, the primary thing to notice is that, while Cresco doesn’t trade on a serious exchange, it's actually one among the most important vertically integrated multi-state operators within the U.S.
The company, founded in 2013, now has operations in 11 states. Cresco runs 18 production facilities that span a complete of 1.2 million square feet. (Source: “Cresco Labs,” Cresco Labs Inc, last accessed March 10, 2020.)
Advertisement
Another reason why Cresco Labs Inc deserves investor attention immediately is its recent progress in opening new dispensaries.
In particular, the corporate has just received special use approval from the board of Appeals for its dispensary located within the prestigious River North neighborhood of Chicago. (Source: “Cresco Labs Announces Zoning Approval for Chicago Dispensary in Prized River North Area,” Cresco Labs Inc, last accessed March 9, 2020.)
Note that this dispensary is one among two licenses Cresco won within the Central District in Chicago’s lottery last November. At an equivalent time, the River North location are going to be altogether |one amongst|one in every of"> one among the sole two city-approved adult-use dispensaries in all of downtown Chicago. The dispensary are going to be under Cresco’s “Sunnyside” brand, marking the company’s sixth Sunnyside location within the state of Illinois.
“Earning the proper to work during this highly coveted location is both a privilege and a big opportunity for Cresco,” said Cresco Labs’ co-founder and chief military officer Charlie Bachtell. “The Dispensary is minutes from the Magnificent Mile, one among the busiest shopping districts within the us . On a private note, it's also minutes from Cresco’s corporate headquarters, and that i couldn’t be more excited about Sunnyside potentially having a flagship dispensary during this neighborhood.” (Source: Ibid.)
Mind you, this is able to just be a start. Cresco Labs Inc has licenses to open another four dispensaries and also plans to possess locations within the Gold Coast neighborhood of Chicago, Danville, Illinois, and South Beloit, Illinois.
Cresco Labs Inc: Capitalizing on a replacement Market
If you’ve been following the cannabis industry, you’ll know why Illinois represents a serious opportunity.
There are now 11 states (and D.C.) where recreational marijuana is legal, and Illinois is that the latest state to hitch the club.
Lawmakers passed the Illinois Cannabis Regulation and Tax Act in May 2019. Sales of recreational pot began within the state on January 1, 2020.
And albeit Illinois remains a nascent marketplace for cannabis, it's already delivered some very impressive numbers.
According to the Illinois Department of monetary and Professional Regulation, adult-use cannabis sales totaled $39.2 million within the state in January 2020. (Source: “Pritzker Administration Announces First Month Sales Totals for Adult Use Cannabis,” Illinois Department of monetary and Professional Regulation, February 3, 2020.)
Things remained strong in February, as Illinois’ statewide recreational pot sales came in at $34.8 million. (Source: “Pritzker Administration Announces Second Month Sales Totals for Adult Use Cannabis,” Illinois Department of monetary and Professional Regulation, March 4, 2020.)
So, in only the primary two months after legalization, Illinois has generated a whopping $74.0 million in adult-use cannabis sales.
And the state still has many potential. consistent with a study by Freedman & Koski, Illinois’ adult-use cannabis market could reach up to $2.6 billion in annual revenue. (Source: “A Snapshot of Demand for Adult-Use Cannabis in Illinois,” Freedman & Koski, last accessed March 10, 2020.)
The best part is, Cresco Labs Inc is already a neighborhood of Illinois’ cannabis boom.
On January 1—the first day of recreational pot sales within the state—the company served quite 3,100 customers at its five Sunnyside dispensaries located in Lakeview, Elmwood Park, Champaign, Buffalo Grove, and Rockford, Illinois. the typical ticket price was $135.00. (Source: “Cresco Labs Makes History on January 1st With First Sale of Adult-Use Cannabis in Illinois at Its Sunnyside* Lakeview Dispensary,” Cresco Labs Inc, January 2, 2020.)
Cresco Labs Inc: Giant Opportunity Ahead for This Pot Stock?Why This Pot Stock Deserves a glance
If you would like a bit of the action within the fast-growing cannabis industry, Cresco Labs Inc (OTCMKTS:CRLBF, CNSX:CL) stock deserves a significant look.
Now, i do know what you're thinking. Cresco stock is listed on the Canadian Securities Exchange and also happens to trade over the counter within the U.S. Since there are pot companies that already listed on major U.S. stock exchanges, why are we still talking about an over-the-counter pot stock?
Well, the primary thing to notice is that, while Cresco doesn’t trade on a serious exchange, it's actually one among the most important vertically integrated multi-state operators within the U.S.
The company, founded in 2013, now has operations in 11 states. Cresco runs 18 production facilities that span a complete of 1.2 million square feet. (Source: “Cresco Labs,” Cresco Labs Inc, last accessed March 10, 2020.)
Advertisement
Another reason why Cresco Labs Inc deserves investor attention immediately is its recent progress in opening new dispensaries.
In particular, the corporate has just received special use approval from the board of Appeals for its dispensary located within the prestigious River North neighborhood of Chicago. (Source: “Cresco Labs Announces Zoning Approval for Chicago Dispensary in Prized River North Area,” Cresco Labs Inc, last accessed March 9, 2020.)
Note that this dispensary is one among two licenses Cresco won within the Central District in Chicago’s lottery last November. At an equivalent time, the River North location are going to be altogether |one amongst|one in every of"> one among the sole two city-approved adult-use dispensaries in all of downtown Chicago. The dispensary are going to be under Cresco’s “Sunnyside” brand, marking the company’s sixth Sunnyside location within the state of Illinois.
“Earning the proper to work during this highly coveted location is both a privilege and a big opportunity for Cresco,” said Cresco Labs’ co-founder and chief military officer Charlie Bachtell. “The Dispensary is minutes from the Magnificent Mile, one among the busiest shopping districts within the us . On a private note, it's also minutes from Cresco’s corporate headquarters, and that i couldn’t be more excited about Sunnyside potentially having a flagship dispensary during this neighborhood.” (Source: Ibid.)
Mind you, this is able to just be a start. Cresco Labs Inc has licenses to open another four dispensaries and also plans to possess locations within the Gold Coast neighborhood of Chicago, Danville, Illinois, and South Beloit, Illinois.
Cresco Labs Inc: Capitalizing on a replacement Market
If you’ve been following the cannabis industry, you’ll know why Illinois represents a serious opportunity.
There are now 11 states (and D.C.) where recreational marijuana is legal, and Illinois is that the latest state to hitch the club.
Lawmakers passed the Illinois Cannabis Regulation and Tax Act in May 2019. Sales of recreational pot began within the state on January 1, 2020.
And albeit Illinois remains a nascent marketplace for cannabis, it's already delivered some very impressive numbers.
According to the Illinois Department of monetary and Professional Regulation, adult-use cannabis sales totaled $39.2 million within the state in January 2020. (Source: “Pritzker Administration Announces First Month Sales Totals for Adult Use Cannabis,” Illinois Department of monetary and Professional Regulation, February 3, 2020.)
Things remained strong in February, as Illinois’ statewide recreational pot sales came in at $34.8 million. (Source: “Pritzker Administration Announces Second Month Sales Totals for Adult Use Cannabis,” Illinois Department of monetary and Professional Regulation, March 4, 2020.)
So, in only the primary two months after legalization, Illinois has generated a whopping $74.0 million in adult-use cannabis sales.
And the state still has many potential. consistent with a study by Freedman & Koski, Illinois’ adult-use cannabis market could reach up to $2.6 billion in annual revenue. (Source: “A Snapshot of Demand for Adult-Use Cannabis in Illinois,” Freedman & Koski, last accessed March 10, 2020.)
The best part is, Cresco Labs Inc is already a neighborhood of Illinois’ cannabis boom.
On January 1—the first day of recreational pot sales within the state—the company served quite 3,100 customers at its five Sunnyside dispensaries located in Lakeview, Elmwood Park, Champaign, Buffalo Grove, and Rockford, Illinois. the typical ticket price was $135.00. (Source: “Cresco Labs Makes History on January 1st With First Sale of Adult-Use Cannabis in Illinois at Its Sunnyside* Lakeview Dispensary,” Cresco Labs Inc, January 2, 2020.)
Source : https://www.profitconfidential.com/stock/cresco-labs-stock/otcmkts-crlbf-inc-giant-opportunity-ahead-pot-stock/
No comments