Cash is at a premium in the cannabis industry these days. For investors, it's an important consideration when investing in a pot stock because those without much cash on hand could be in for a rough ride, especially as the economy struggles.
Here are three U.S. pot stocks that reported less than $100 million in cash in their most recent earnings reports. Let's take a look and see if these companies have enough money given how much cash they're burning through and whether investors should avoid them for the time being.
1. Cresco Labs
Cresco Labs (OTC: CRLBF) released its first-quarter results of fiscal 2020 on May 28. In the report, the company's cash and cash equivalents as of March 31 totaled $68.6 million. That's up from the $49.1 million that Cresco had on hand as of Dec. 31.