18 Top Marijuana Companies to Invest In (2024 Update)

Given that the cannabis market is taking off fast, it’s hard to decide which marijuana companies to invest in, especially in these turbulent times.

Whether you believe in the healing powers of cannabis or you think it is just a passing trend, there is no denying that the marijuana market is very real and growing at a fast rate.  

Last year alone, the global cannabis market reached $20.5 billion, and expectations are that it might go as high as $90.4 billion by the end of 2026.

If these numbers don’t impress you, take a look at some of the facts and figures on the top marijuana enterprises, and judge for yourself.

15 Best Cannabis Companies to Invest in Right Now

States are cashing in on the marijuana business, so why shouldn’t investors and venture capitalists reap some of the benefits of this budding industry? 

Here are some of the best weed companies to invest in right now!

1. Innovative Industrial Properties Inc. (NYSE: IIPR)

• Market cap: $4.84 billion

• Founded: 2016

• Number of employees: 5,000

• Current stock price:$194.48 (as of April 7, 2022)

IIPR is currently the only real estate investment trust (REIT) that focuses on the medical cannabis industry. Its main goal is to become a creative capital provider for the industry. 

Why should you invest?

IIPR might be one of the best marijuana companies to invest in 2021 due to many reasons. First, IIPR is a REIT, which means their money comes from leasing.

Secondly, in Q1 of 2021, the company had a net income of $25.6 million. And lastly, IIPR’s short-term investments helped the company reach $661.4 million by the end of the quarter.

2. Jushi Holdings Inc. (NYSE: JUSHF)

• Market Cap: $949.801 million

• Founded: 2007

• Number of employees: 854 

• Current stock price: $2.90 (as of April 7, 2022)

As its name suggests, Jushi is one of the best cannabis holding companies to invest in. It deals with cannabis retail, distribution, and cultivation. Some of Jushi’s brands are The Bank, The Lab, Nira and Nira+, and Seche.

Why should you invest? 

Jushi Holdings is one of the hottest pot stocks right now. It grew nearly 700% in value over the past year. The company plans to open six new stores in Pennsylvania in 2021, which will be key to the company’s long-term growth.  

3. Cresco Labs (OTC: CRLBF)

• Market Cap: $2.637 billion

• Founded: 2013

• Number of employees: 831  

• Current stock price:$5.77 (as of April 7, 2022)

Cresco Labs is one of the successful publicly traded marijuana companies from Chicago that has brands like Good News, Reserve, Mindy’s Edibles, Remedi, High Supply, and Wonder Wellness Co. The company currently has 24 dispensaries in nine states.

Why should you invest? 

Cresco Labs cross-sells its branded products in more than 830 US dispensaries. Wholesale makes about 60% of the company’s overall sales. In Q3 2020, Cresco’s revenue reached $153 million, while its EBITDA grew 15-fold, reaching $46.4 million. 

Cresco’s distribution revenue is growing fast, making it one of the leading marijuana companies to invest in (in the long term). 

4. Curaleaf Holdings (OTC: CURLF)

• Market Cap: $9.686 billion

• Founded: 2010 

• Number of employees: 4,800 

• Current stock price: $6.78 (as of April 7, 2022)

Curaleaf is a company from Massachusetts that owns 104 dispensaries, 30 processing sites, and 23 cultivation sites in 23 states. That said, Curaleaf is slowly becoming one of the world’s leading cannabis companies that uses science to enhance the customer experience.

Why should you invest?

Speaking of the best pot companies to invest in, Curaleaf’s shares grew by an impressive 200% in the past 12 months. The company finished its fiscal 2020 with an EBITDA of $144.1 million and $653.0 million in sales. It also launched new products, which should help with 2021 sales. 

5. Tilray (NASDAQGS: TLRY)

• Market Cap: $6.425 billion

• Founded: 2013 

• Number of employees: 1,030   

• Current stock price: $7.25 (as of April 7, 2022)

Tilray is one of Canada’s biggest marijuana companies when it comes to revenues. On May 3, 2021, the company made a deal with Aphria, making it the largest weed company regarding revenue.

Why should you invest?

Even before merging with Aphria, in Q4 of 2020, the legacy Tilray had a 20.5% year-over-year revenue growth, reaching $57 million. In addition, the company had an EBITDA of $2.2 million.

Although Tilray’s stocks started to drop after peaking in February 2021, the company’s revenue continues to grow. Furthermore, Tilray could be one of the safest legal marijuana companies to invest in when it comes to long-term investment.

6. High Tide Inc. (NASDAQCM: HITI) 

• Market Cap: $325.316 million

• Founded: 2009

• Number of employees: 59 

• Current stock price:$4.36 (as of April 7, 2022)

High Tide is a retail cannabis company that deals with the manufacturing and distribution of cannabis smoking accessories. Their brands include Kush Bar, Canna Cabana, META, and New Leaf. 

Why should you invest?

High Tide’s revenue in Q2 2021 witnessed a 99% increase, reaching $40.9 million. The company’s gross profit grew by 93% in the same period, amounting to $15.0 million. 

7. Canopy Growth (NYSE: CGC)

• Market cap: $8.131 billion

• Founded: 2013

• Number of employees: 3,259

• Current stock price:$7.18 (as of April 7, 2022)

As one of the leading companies in the cannabis industry, Canopy offers various products, from dried flowers and oils to edibles and infused beverages.

Why should you invest?

In FY 2021, Canopy witnessed growth in revenue by 37%. In Q1, the company’s revenue amounted to a staggering $122.71 million, while the total net income reached $83.74 million. 

Canopy is one of the best Canadian marijuana companies to invest in. Why? Its stock price currently amounts to $13.54 (as of November 3, 2021). Moreover, with brands like Tweed in its portfolio and a lot of celebrity backup, CGC stock is definitely one to watch.   

8. Village Farms International (NASDAQCM: VFF)

• Market Cap: $784.026 million

• Founded: 1989 

• Number of employees: 900

• Current stock price:$5.14 (as of April 7, 2022)

Besides distributing and producing greenhouse-grown cucumbers, tomatoes, and bell peppers in North America, the company also deals with cannabis products.

Why should you invest?

VFF is one of the CBD stocks to watch since it is showing substantial potential. In the Q1 of 2021, the company’s revenue was up by 63.3%, reaching $52.62 million.

VFF could be an excellent future investment, given that its current stock price is relatively low — $7.88 (as of November 3, 2021).

9. Hexo (NYSE: HEXO)

• Market Cap: $679.224 million

• Founded: 2013

• Number of employees: 822

• Current stock price: $0.57  (as of April 7, 2022)

Next on our list of great marijuana companies to invest in, we have Hexo, a Canadian cannabis seller and producer.  

On June 28, 2021, HEXO purchased its first US production facility in Colorado. Through this 50,000 sq. ft. facility in Fort Collins, HEXO will be able to provide many US companies with its products.

Why should you invest?

In Q3 of fiscal 2021, Hexo’s revenue grew by 14.86%, reaching $18.66 million, while the company’s stock rose by 30.23% in the past 6 months.  

10. GrowGeneration Corp. (NASDAQ: GRWG)

• Market Cap: $2.341 billion

• Founded: 2008

• Number of employees: 291

• Current stock price:$8.66 (as of April 7, 2022)

Want to find reliable marijuana companies stocks? Look no further than GrowGeneration Corp. GrowGeneration Corp is a hydroponic and organic garden center supplier from Colorado that sells seeds, lighting fixtures, fans, nutrients, rolling trays, filters, and hand tools. 

In May 2021, the company expanded into the Californian market after buying the Harvest Company. 

Why should you invest?

GrowGeneration Corp. had a good year start. In Q1 of 2021, its year-over-year revenue increased by 172.95%, reaching $90.02 million. The company’s stock also grew by 22.28% in the past 6 months.   

11. Trulieve Cannabis Corp. (OTC: TCNNF)

• Market Cap: $6.275 billion

• Founded: 1940 

• Number of employees: 6,200 

• Current stock price: $19.97 (as of April 7, 2022)

Trulieve is a medical cannabis company that currently has 85 stores in Florida and 90 stores nationwide. The secret to the company’s success, which is one of the largest marijuana companies in Florida, is its commitment to its patients (called Trulievers) and its growth.

In May 2021, Trulieve Cannabis Corp. announced that it’s planning to buy Harvest Health & Recreation Inc. This merger will make them the most profitable cannabis company in the US.

Why should you invest?

The company already reported record revenue of $193.8 million for the Q1 of 2021. In June 2021, Trulieve opened its first dispensary in Massachusetts. Together with Harvest Health & Recreation, they will operate in 11 states servicing the recreational and medical cannabis markets.

If you want to invest in some of the best medical marijuana stock companies, Trulieve Cannabis Corp. might be the perfect place to start.  

12. Green Thumb Industries (OTCMKTS: GTBIF) 

• Market Cap: $6.703 billion 

• Founded: 2014

• Number of employees: 2,700  

• Current stock price:$18.04 (as of April 7, 2022)

With 58 retail stores in 11 states, Green Thumb is one of the most influential US cannabis companies on the market. 

Why should you invest?

In Q1 of 2021, Green Thumb’s revenue witnessed an 89.5% growth, reaching $194.4 million. At the same time, the company’s gross profits made 57% of the revenue ($110.9 million). 

Green Thumb’s shares grew by almost 200% in the past 12 months, so it’s easy to see why it is one of the best marijuana companies to invest in this year.

13. Jazz Pharmaceuticals (NASDAQGS: JAZZ)

• Market Cap: $10.93 billion 

• Founded: 2005

• Number of employees: 1,940 

• Current stock price:$163.27 (as of April 7, 2022)

Jazz Pharmaceuticals are the new kids on the block when it comes to marijuana, as they entered the cannabis market in May 2021 after acquiring GW Pharmaceuticals.

Why should you invest?

Before buying GW Pharmaceuticals, Jazz was not on the investor’s list of favorite companies to invest in. As a slow-growing business, its 2020 annual revenue reached a modest $2.4 billion. 

However, since Epidiolex became part of the company, Jazz will be the one to keep an eye on in the future. 

14. AbbVie Inc. (NYSE: ABBV)

• Market cap: $207.284 billion

• Sector: Health Technology

• Founded: 2013

• Number of employees: 47,000

• Current stock price:  $168.91 (as of April 7, 2022)
  

If you’re into investing in marijuana companies, AbbVie is not your typical cannabis brand, given that it’s a research-driven biopharmaceutical company that aims to develop innovative therapies for complex conditions. 

So, how is it linked to cannabis? AbbVie also sells Marinol, a drug that’s based on a synthetic form of THC. 

Why should you invest?

In Q1 2021, AbbVie’s revenue grew by 51% (year over year), reaching $13.01 billion. The sales of the company’s immunosuppressant, Humira (the best-selling drug in 2019), increased by 3.5%, reaching $4.86 billion.    

The company’s stock, according to analysts, has a 12-month average price of $123.50 (per share). 

Investors will find its stocks ideal for long-term investment, which is why marijuanastocks.com reviews have listed this company as one of the marijuana stocks to watch this year. 

15. Aurora Cannabis (NASDAQGS: ACB)

• Market Cap: $1.436 billion

• Founded: 2013

• Number of employees: 2,779

• Current stock price:$3.77  (as of April 7, 2022)

Based in Canada, Aurora Cannabis is one of the biggest public marijuana companies in the world. Little wonder, as Canada is one of the largest marijuana producers. 

Why should you invest?

During the first three months of 2021, Aurora Cannabis became the leading company in the Canadian medical marijuana market regarding sales volume. 

Its revenue for the medical cannabis segment went up by 17%, while its international medical marijuana sales increased by 134%.

At this time, Aurora might not offer the best stocks. However, it will be a good investment for the future.

Three Weed Companies to Invest in Right Now

16. Verano Holdings Corp. (OTC:VRNOF)

• Market Cap: $1.945 billion 

• Founded: 2014 

• Number of employees: 53 

• Current stock price:$9.00 (as of April 7, 2022)

Verano produces innovative cannabis products. The company has active retail operations in 11 states. It operates with 78 dispensaries and 10 processing and cultivation facilities.

Why should you invest?

Is Verano one of the top marijuana companies to invest in right now? It might be. In Q1 of 2021, Verano earned $143 million in revenue (117% more than last year). 

Moreover, its gross profit went over 62%. In the same year, the company acquired The Healing Center and TerraVida. Plus, it added six dispensaries in Pennsylvania, while three more are waiting to get a working permit. 

17. Greenlane Holdings, Inc. (NASDAQ: GNLN)

• Market Cap: $62.012 million 

• Founded: 2005

• Number of employees: 256  

• Current stock price: $0.47  (as of April 7, 2022)

Here’s one of the best 420 stocks to watch this year. Greenlane is one of the largest cannabis accessories companies that sell accessories and specialty vaporization products.  

Why should you invest?

In Q1 of 2021, the company’s brand sales accounted for 25% of the total revenue, reaching $8.5 million. As per analysts, Greenlane’s stock has a 12-month median price of $7.50 per share. 

This would represent a growth of 109.50% compared to the company’s current trading price. 

18. Charlotte’s Web Holdings, Inc. (OTC: CWBHF)

• Market Cap: $447.488 million 

• Founded: 2018 

• Number of employees: 289

• Current stock price:$1.03  (as of April 7, 2022)

Regarding the publicly traded CBD oil companies, Charlotte’s Web is one to watch out for. The company produces and distributes hemp-based cannabidiol (CBD) products, from gummies, tinctures, and capsules to pet products and topicals.

Why should you invest?

In Q1 of 2021, the company’s revenue increased by 9%, while its e-commerce sales grew by 14.5%. In fact, Charlotte’s Web direct-to-consumer e-commerce sales represented 69% of the revenue. 

At the same time, the company’s shares went up 32% two weeks after the revenue report, making Charlotte’s Web one of the leading cannabis companies to invest in your money this summer. 

Understanding the Cannabis Industry

Now that we’ve covered the leading weed companies to invest in 2021, there are a few things one should know about the cannabis business.

What kind of players are involved in the marijuana industry?

• Growers—Companies that grow marijuana and produce cannabis products.
• Supply providers—They provide products and services required for the cultivation of marijuana, such as lighting systems, packaging, etc. 
• Biotech companies—Cannabis companies that use cannabinoids. 
• Marijuana distributors—They connect the product to dispensaries. 
• Marijuana retailers—Companies that put cannabis products in the hands of consumers. 
• Cannabis royalty streaming—These companies finance marijuana growers in exchange for a royalty percentage of the company.

The Weed Industry Risks 

Finding the best pot companies to invest in such as Cresco Labs this year might sound easy enough. But what about the risks? All investments come at a risk, and the cannabis industry is no exception. So, make sure to keep an eye on:

• Inflated prices — Due to the increased interest in cannabis, some companies have seen a growth in weed stocks just by announcing a cannabis venture, which creates an unrealistic view of just how profitable pot stocks actually are. 
• Marijuana is a commodity—Like other agricultural products, marijuana growth is subject to weather conditions and other factors that affect the health and quality of the crop. 
• Legal risks—Currently, marijuana is not legal in all US states or on the federal level. This means that US marijuana companies must adhere to the rules and regulations of the state in which they operate that vary from jurisdiction to jurisdiction.
• Dilution—Demand for cannabis is growing, and pot companies have to rise to the challenge by launching new products or opening new facilities, which comes at a hefty price. 

Issuing more shares to fund new operations, also known as dilution, reduces the stake of existing shareholders in the company, thus decreasing the investment value. 

Marijuana Industry Financial Benefits 

Despite the stigma associated with marijuana use, there’s no denying that the cannabis industry is a lucrative business. But should you invest and how to invest in marijuana companies? 

If you’re not sure should you invest in cannabis stocks, this might change your mind:

• The revenue is expected to spike as more states legalize marijuana.
• There is a high demand for weed. For example, in April 2021, the state of Illinois hit a record in recreational marijuana sales of almost $115 million.
• The global cannabis industry is witnessing massive growth. In 2020, it reached $20.5 billion, and by 2026, it will be worth $90.4 billion. In other words, marijuana companies on the stock market could be an excellent long-term investment.

If you want to know how to invest in marijuana stocks, just follow these steps:

• Understand the difference in the types of products and companies.
• Know the risks of investing in the industry.
• Evaluate the stocks and ETFs.
• Keep an eye on changing marijuana industry dynamics.

Summing Up

The future still looks pretty green for marijuana companies despite downward trends and stocks crashing, so specialized loan providers still have a lot of work. 

With Canada legalizing weed and 19 US states allowing the use of recreational marijuana, there is endless potential both for investors and for the growth and expansion of the companies themselves. 

We hope that our list of marijuana companies to invest in your money this year will help you understand the cannabis market, the stocks, and the capital potential each company offers in the long term. 

About the Author

Ljubica Cvetkovska

Ljubica is a writer and researcher who enjoys spending most of her time between the pages of her favorite books or immersed in her writing. With a background in English literature, she prides herself on delivering content that is well-researched and backed up by relevant data. When she’s not working, she’s known to binge-watch a TV show or two or hit the gym, which doesn’t happen that often.

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