Fundamental side of the idea:
For the full year of 2020, Cresco saw a whopping 271% year-over-year increase in revenue to $476 million. The company's retail revenue for the year grew to $202 million, up 316% year over year. Much of the credit goes to its Sunnyside retail platform, which, according to the management, generated average revenue per store of $3.6 million. Cresco has 10 Sunnyside stores in the new emerging cannabis market of Illinois. ) Its fourth-quarter (ended Dec. 31, 2020) revenue also jumped a massive 292% year over year to $162.3 million.
Another quarter of positive adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) net of biological assets of $50 million is an impressive jump from $2.8 million in the year-ago quarter. It also reflects how well the company has been handling its operating expenses. Cresco's 2020 was a reflection of what's to come in the next few years, according to the management.
Technical side of the idea:
Since the price has hit an all time high(22CAD), it has been decreasing / and retraced to 0,61 Fibu level. As long as the price is Rebounding exactly on 0,61 Multiple times we should consider that there is a big Possibility for the Price to Move higher. I am expecting that the price will continue to increase to 80USD in the next two years, after breaking the 1,61 Fibu level ( which is going to be the new resistance ).
If you have Questions, you can Always Contact me !
Best Regards.
S.Sadki
For the full year of 2020, Cresco saw a whopping 271% year-over-year increase in revenue to $476 million. The company's retail revenue for the year grew to $202 million, up 316% year over year. Much of the credit goes to its Sunnyside retail platform, which, according to the management, generated average revenue per store of $3.6 million. Cresco has 10 Sunnyside stores in the new emerging cannabis market of Illinois. ) Its fourth-quarter (ended Dec. 31, 2020) revenue also jumped a massive 292% year over year to $162.3 million.
Another quarter of positive adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) net of biological assets of $50 million is an impressive jump from $2.8 million in the year-ago quarter. It also reflects how well the company has been handling its operating expenses. Cresco's 2020 was a reflection of what's to come in the next few years, according to the management.
Technical side of the idea:
Since the price has hit an all time high(22CAD), it has been decreasing / and retraced to 0,61 Fibu level. As long as the price is Rebounding exactly on 0,61 Multiple times we should consider that there is a big Possibility for the Price to Move higher. I am expecting that the price will continue to increase to 80USD in the next two years, after breaking the 1,61 Fibu level ( which is going to be the new resistance ).
If you have Questions, you can Always Contact me !
Best Regards.
S.Sadki