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Another reason to be really excited about Cresco Labs’ future is the company’s aforementioned all-share acquisition of Origin House. While the transaction was completed under less-than-ideal circumstances (i.e., cannabis stock share prices were imploding around the time the deal closed), Origin House adds indoor cultivation and, more important, broad-scale wholesale distribution. Origin House is one of a select few companies that possesses a cannabis distribution license in California, the largest pot market in the world by sales. This means Cresco Labs instantly gained access to more than 575 licensed Californian dispensaries with which to market its products when it closed this deal.
Now that you have a better idea of what challenges Cresco could face moving forward, let’s take a look at why it’s the marijuana stock to buy in June.
Third and finally, investors need to understand that Cresco Labs is intricately tied to the health of the California market via its Origin House acquisition. Although California is the largest marijuana market in the world by total sales, it’s had significant issues contending with the black market. A combination of inefficient dispensary licensing and high levels of taxation on legal pot products has made California a disappointing cannabis market in the early going.
Here are the risks Cresco Labs’ shareholders need to be mindful of
While I believe there are a number of reasons to be excited about Cresco’s future, it’s important to understand the reasons behind its struggles in recent months. Therefore, let’s begin by looking at some of the risks investors will be taking on if they choose to invest in Cresco Labs.
First of all, there’s going to be some degree of operational inefficiency when purchasing a U.S. MSO. Since marijuana remains a Schedule I drug at the federal level (i.e., it’s entirely illicit), MSOs like Cresco are only allowed to operate in states where pot has been legalized to some degree. Further, the interstate transport of pot products isn’t allowed. This means the need to set up potentially redundant cultivation, processing, and retail operations in multiple states in order to keep costs down and quality up while controlling the seed-to-sale process.
Image source: Getty Images.
The big question is, what marijuana stock should you buy to take advantage of this long-term growth opportunity?
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