If You'd Invested $1,000 in CRLBF 5 Years Ago, Here's How Much You'd Have Today

Key Points

• To say you'd have less is understating the severity of the situation.

• Being charitable, however, all marijuana industry players are struggling with current conditions.

• 10 stocks we like better than Cresco Labs ›

Like nearly every other marijuana stock on the market, multi-state operator (MSO) Cresco Labs (OTC: CRLBF) has been struggling mightily over the years. The pot industry is beset by many challenges including persistent black- and gray-market competition, lack of access to the most basic financial services, and high taxation that can dissuade potential customers.

As a result, Cresco and its peers haven't been good additions to anyone's stock portfolio. Might that change before long?

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Green in the red

Since hitting a peak in 2021, Cresco's share price has really withered. Even with that jump, over the past five years a $1,000 play on the stock would have shrunk to only $200 and a little change at present. In contrast, the same bet on the S&P 500 index across that stretch of time would have become $1,878.

Image source: Getty Images.

In addition to the numerous aforementioned headaches, there's also the odd legal status of pot in Cresco's native U.S. The drug is unambiguously illegal at the federal level, yet states can effectively set their own policies.

That's why legalization in this country is such a patchwork, with 24 states plus the District of Columbia sanctioning both medical and recreational weed, 18 allowing only medical, and eight resolutely keeping both illegal.

Legalization lagging

Of course, there is a push from lobbyists and selected lawmakers to reschedule marijuana on the federal level, and ultimately I think that constantly stop-and-go effort will bear fruit. It doesn't seem to be a priority of lawmakers, though, and while it hangs in limbo companies like Cresco will basically have to exist in survival mode.

Can it hang on? That won't be easy, as revenue has been dipping of late and profitability continues to be elusive. On the plus side, it recently refinanced a $325 million credit facility, and it has some scratch in its coffers ($147 million in cash and equivalents). We'll see whether it can last to the coming Great American Legalization in the future.

Should you invest $1,000 in Cresco Labs right now?

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Eric Volkman has no position in any of the stocks mentioned. The Motley Fool recommends Cresco Labs. The Motley Fool has a disclosure policy.