CRLBF: A Profitable Pot Stock to Buy on the Dip – StockNews.com

A $2.66 billion market cap has room to grow

Federal legalization- Not a question of if but when

A bullish trend in CRLBF over the past year

Impressive revenue growth

Buy recommendations since May 2020

The market had assumed that the Biden administration with majorities in the US House of Representatives and the Senate would move swiftly towards federal marijuana legalization.

Meanwhile, in a surprise move, the White House asked staffers who disclosed past marijuana use to resign or work remotely last week. Progressive Democrats are calling the move “unfair and out-of-touch.” Others say it is hypocritical after Vice President Harris admitted she had smoked the “evil weed.”

Many analysts believe that pot stocks will be the next high-flying sector of the stock market. However, that depends on federal legalization to open up financing and payment channels. The lack of coordination between states that have legalized medical and recreational marijuana and the federal government creates legal issues for banks and financial institutions. Everything from loans to bank accounts and even holding shares in pot companies is in limbo as the market awaits the administration to push legalization forward. The White House’s recent move and pushback create another political gulf within the majority party.

Cresco Labs Inc. (CRLBF) is a Chicago-based marijuana company. Its shares have been rallying since March 2020. Meanwhile, the price action could become explosive if Washington DC establishes federal legalization. However, the administration’s recent dismissals could cause some selling in the stock. I would view any weakness in CRLBF as another buying opportunity.

A $2.66 billion market cap has room to grow

At $12.40 per share on March 25, CRLBF had a market cap of around the $2.66 billion levels. Around 1.46 million CRLBF shares change

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