Stocks are not like sports teams. It’s OK, even accepted, to jump on the bandwagon in the market, particularly if that bandwagon appears to be a long-term trend.
If you’re looking at cannabis stocks, there’s a simple reason to invest in Cresco Labs (OTC:CRLBF), Green Thumb Industries (OTC:GTBIF) or Trulieve Cannabis (OTC:TCNNF). All three just turned in record quarters and are turning a profit.
The last part is still a rarity among marijuana companies. However, these three companies are multistate operators with enough scale to thrive as more states open up to medical and adult-use marijuana.
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1. Green Thumb Industries has seen its revenue jump
Green Thumb Industries led the trio during the third quarter, reporting $157.1 million in revenue, up 31.3% sequentially and 131% year over year. More importantly, the company listed positive net income in the quarter for the first time, reporting $9.6 million. Green Thumb also said it increased its gross margin in the quarter to 55.4%, compared to 53.2% in the second quarter.
The company is based in Chicago but operates in 12 states. It has 25 retail stores, but much of its business is connected to its brands, which include…
