3 Reasons Cresco Labs Stock Will Light Up Your Portfolio Sushree Mohanty
Cannabis stocks have had a rough couple of years. The sector s benchmark fund, the
Horizons Marijuana Life Sciences ETF, spent most of 2019 and early 2020 sinking, and that period was followed by one during which it largely traded sideways.
But these once-dormant investments began to heat up again in late 2020 and early 2021. And rather than the Canadian players, it s been the U.S. pot companies that are performing especially well. Optimism about the industry s potential and renewed hopes that Congress may act to legalize marijuana at the federal level have sent these stocks higher.
Mar 9, 2021 at 6:50AM
Cronos Group (NASDAQ:CRON) released its fourth-quarter results on Feb. 26 for the period ending Dec. 31, 2020. The cannabis producer had some mixed results; it generated sales growth, but losses continued to mount. And down 21% over the past month, investors have been bearish on the stock it has performed worse than the
Horizons Marijuana Life Sciences ETF, which has fallen by 14% during that time.
But before you decide whether to buy the pot stock on the dip, it s important to take a closer look at the earnings report to see just how well the business is doing. Here are the five of the most surprising numbers from Cronos recent results.
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Author Bio
Sushree is a new member of the Fool family, keen on writing about the cannabis and healthcare sector and also has five years of experience writing on real estate, consumer sector, and macroeconomic topics. She holds a bachelor’s degree in business management, specializing in finance, and also a CFA Level 2 candidate. Being a fitness enthusiast and a creative person, when she isn t writing, she is either kick-boxing or painting.
The stock market and risk go hand in hand, and volatility is nothing new in investing. But in an evolving sector like marijuana, you can expect a little more of it. This has been evident from the recent surge in cannabis companies stock prices.