You might have noticed that the stock market is quite choppy these days. Some of the volatility is due to the uncertainty about whether or not there will be another round of economic stimulus from Washington. But don’t let the choppiness fool you: Stocks remain in a new bull market after their major meltdown earlier this year.
Of course, some stocks turn out to be losers even in a rising market, so you still need to be choosy about where you invest. One smart move is to buy leaders that are benefiting from virtually unstoppable trends. Here are three such stocks that are poised to be surefire winners.
The U.S. is going green — and I’m not talking about the environment. The nation’s legal cannabis industry is booming and seems likely to gain momentum. That makes Cresco Labs (OTC:CRLBF) a company that investors shouldn’t ignore.
Cresco ranks as one of the largest cannabis businesses in the U.S., operating 19 retail cannabis stores across nine states, as well as 16 cultivation and production facilities. Its revenues continue to soar, and although it isn’t quite profitable yet, it consistently generates positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA).
Growth shouldn’t be a problem for Cresco. Several of the cannabis markets where it operates are still in their early stages — among them, its home state of Illinois, where recreational marijuana use just became legal in January. Cresco owns 10 additional retail licenses for stores that it hasn’t opened yet.
I expect Cresco could be a huge winner on Election Day. The results of the presidential and senate races could greatly improve the prospects that federal laws will be changed to improve the cannabis industry’s access to financial services and pave the way for companies like Cresco to list their shares on U.S. stock exchanges. In addition, two key states — Arizona and New Jersey — will be among those voting next month on whether to legalize recreational marijuana. Read from source….