Every investor is always on the lookout for the next big growth stock to buy. Not all stocks have what it takes to generate huge earnings, but a few do. In this Motley Fool Live video registered on February 9, 2021, The Wraphost Jason Hall and Fool.com Keith Speights discuss two fantastic growth stocks to buy right now that are poised to be big winners.
Jason Hall: Yeah, let’s get to thinking about whether to invest in healthcare right now. There are a few actions that I know you wanted to talk about, what do you have to share with us?
Keith Speights: These have absolutely nothing to do with COVID-19. Well, maybe some kind of, kind of. But one of the stocks that I think is basically a buy now stock is a stock called Cresco Laboratories (OTC: CRLBF). It is an American cannabis operator, it operates in several states.
You cannot buy it on the major exchanges in the United States at the moment, as marijuana is still illegal federally. But the ticker, their CRLBF, is available over the counter in the United States.
Cresco Labs is just a solid company. It is one of the largest multi-state cannabis operators. The current market cap is around three and a half billion dollars, I think what really stands out about that market cap is that it’s way lower than the peers at Cresco. Many of these peers have revenues equivalent to that generated by Cresco Labs, so Cresco is by no means a value stock – none of the marijuana stocks – but compared to its peers Cresco Labs actually has a pretty attractive valuation. .
As I said, they are found in several states including their home state of Illinois which has a fast growing recreational marijuana market. Cresco was recently licensed to sell recreational marijuana in Arizona, where they already have a presence in the medical market. Arizona voted in November to legalize recreational marijuana, so the market is opening up, so Cresco has a great opportunity for growth. New Jersey also recently voted to legalize recreational marijuana, I think you’ll see Cresco entering that market. New York may be booming over legalizing recreational marijuana, so I think Cresco’s opportunities are really great.
Then add to all that the real prospects of Congress decriminalizing marijuana this year. If that happens there are a few things to watch out for: Number 1 Cresco as I mentioned is trading over the counter right now, decriminalization would open the door for Cresco to list its shares in one of the major securities. exchanges, the NASDAQ (NASDAQ: NDAQ) or the New York Stock Exchange, that would make it more easily accessible to many investors. For example, the Robinhood platform doesn’t offer a lot of these over-the-counter stocks, you can’t buy Cresco Labs on Robinhood right now. If that happened, Cresco …
Room: This alone is equivalent to 10 times the market cap.
Speights: Yeah. Yes exactly. [laughs]
Room: Well, for a few weeks anyway.
Speights: Yeah. Yeah. But that would make a significant difference, even outside of the kind of 10x phenomenon we’ve seen on some of these Robinhood stocks. But that would be a huge catalyst for the stock.
I think if you compare US marijuana stocks to their Canadian peers, the valuations of US marijuana stocks are much lower based on the income they generate. I think it would be a huge catalyst for Cresco Labs. I also think access to financial services is fair – right now there are federal laws that prevent cannabis companies from accessing traditional banking services, and that could change this year or come into effect from next year.
Assuming this all goes through Congress and I think it will, and so I think you’re going to see 2021 be perhaps the biggest year for marijuana stocks in the United States and Cresco Labs is the one of the stocks which, in my opinion, is best placed. to enjoy. If you are the kind of investor who is open to investing in marijuana stocks, Cresco Labs is the one for you.
Another one that I really like is Guardian health (NASDAQ: GH), ticker ago GH. Guardant Health is a pioneer in liquid biopsy.
If you don’t know what a liquid biopsy is: when you think of the biopsy you think of the cut, a doctor cuts the patient to get a tissue biopsy to send for analysis to see if he has cancer. But what a liquid biopsy is is a blood test (usually blood, it can be other body fluids, but it’s usually blood). What they do is they analyze the blood and they can detect DNA from tumor cells or DNA fragments from tumor cells in the bloodstream, and they analyze the DNA to determine if cancer is present and if there is a huge opportunity.
Guardant Health is a pioneer in this field, they already have three products on the market, their flagship product is the Guardant360 Companion Diagnostic Test for certain cancer immunotherapies and sales are booming. But their big opportunity is to get into the surveillance of cancer recurrences and the early detection of cancer. On the recurrence surveillance front Guardant Health is launching their first product called Guardant Reveal, they are launching it in the first trimester, I think it has a great opportunity, and then they are doing clinical studies on another liquid biopsy that can detect cancer. at a very early stage. I think you’ll see more news later this year.
The global market for this type of product is well over $ 50 billion per year. Guardant Health has a market cap of around $ 16 billion right now, so I really like it. David Gardner, co-founder of Motley Fool, talks about investing in the kind of companies that make the future you believe in. I am paraphrasing what he says. But Guardant Health is the kind of stock that does that for me. They could change the dynamics of cancer diagnosis with what they’re doing and make a lot of money out of the process, and that’s the kind of stock I like to invest in.
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