After years of waiting, the big day has finally arrived for North American cannabis stocks. In 2021, more than half a dozen pot stocks are expected to push into the black. This will definitively demonstrate that the legal weed industry is legitimate and can be a serious moneymaker.
After (pardon the pun) weeding through dozens of marijuana stocks, I found seven that Wall Street forecasts will be profitable in the upcoming year. Here they are, in no particular order.
5. Cresco Labs
Surprise! Another MSO is slated to become profitable in 2021. Wall Street thinks Cresco Labs (OTC:CRLBF) will go green thanks to its soaring sales growth.
The Cresco operating model has two core growth drivers. The first is the company's retail operations. It possesses 29 dispensary licenses and has 19 operational retail stores. Approximately half of these open locations are in the limited license state of Illinois. By maximizing its presence in the Land of Lincoln, it's securing healthy market share in what will become a billion-dollar market.
The second growth catalyst for Cresco Labs is its wholesale operations. Origin House, which Cresco acquired in an all-stock deal in January, was one of a small handful of companies to possess a cannabis distribution license in California. Gaining hold of this distribution license allows Cresco to place its products into more than 575 dispensaries throughout the Golden State (i.e., the most lucrative pot market in the world).