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The cannabis industry in Illinois is one of the newest and fastest-growing markets in the United States. Cannabis only became legal in the state at the start of the new year which just goes to show how young the market truly is. During the first few days of the year, the state reported sales of as high as $11 million from only around 50 dispensaries that were open at the time. Because of this, some estimate that within a few years, this one market could see as much as $4 billion in sales per year.
Of course, that number may seem far off right now, but it all depends on the legal measures put in place there to ensure that the cannabis industry is flourishing. New markets are a lot like children. It is a process of figuring it out and adjusting thusly. One of the issues that many markets suffer from is the fact that states are usually slow to give out licenses to sell cannabis. Because of this, many of those who want to open dispensaries, are forced on long waiting lines before they can do so.
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But, Illinois has worked hard to ensure this won’t happen in its market. With this, it has been a hotbed for multi-state operator marijuana stocks to begin working within its borders. Recently, we have seen a large interest from these big pot stocks in working within the Illinois legal marijuana market. With 13 million residents and a large amount of tourism in the state, it looks like some marijuana stocks to watch are waiting to benefit from the growth of the market.
This Pot Stock Has Set Up Shop in Illinois
Curaleaf Holdings (CURLF Stock Report) (CURA) is one of the leading MSOs or multi-state operators currently working out of Illinois. The company has shown revenue of as much as $130 million during its third-quarter which is quite substantial. Additionally, the company has been working on a series of acquisitions that would see it becoming one of the largest MSOs in the industry overall.
This includes the acquisition of Grassroots which would allow it access to quite a large amount of retail locations. This deal is expected to be finished up soon and will be worth somewhere in the $1 billion range. As we wait to see how this plays out, Curaleaf continues to be a pot stock to watch.
A Promising MSO Pot Stock To Watch
Cresco Labs (CRLBF Stock Report) (CL) is another leading MSO pot stock to watch. The company has a very large interest in the Illinois market which it now owns a 25% market share in. Additionally, the company has been working to expand the amount of cannabis production it can do with a new 630,000 square foot facility that it has been given the option to utilize.
The company still sees its stock trading below the $10 mark which could be a sign. It also looks like the company does have the potential to uplist onto a larger exchange in the near future. Of course, this is mostly speculation at this point but Cresco Labs does have a lot going for it. For this reason, the company remains an interesting pot stock to watch.
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