TM Editors' note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence.

With cannabis legalization gaining momentum globally, investing in cannabis presents a lucrative opportunity. Leaders worldwide are embracing marijuana reforms, advancing towards its decriminalization. Recognizing its medical benefits, people are increasingly open to cannabis. Investors may want to explore cannabis stocks to enhance their portfolios. Here are the top 10 cannabis stocks to invest in for potential growth.

Curaleaf

Curaleaf is a cannabis operator and company that produces and distributes a wide range of cannabis products. These products include vape oils and concentrates, topical lotions, massage oils, mints, edibles, and body lotions, among many other products. They have several dispensaries that are distributed across different states in the US where they sell their products.

One reason, among many, that you may want to invest in Curaleaf is that its revenue is higher than most cannabis companies. It remains a leader in the American cannabis industry even though the company has had some setbacks.

Green Thumb Industries

With 79 cannabis stores across 15 different states across the US, Green Thumb Industries is one of the largest cannabis operators in the country. Since 2020, the company has had a stable and profitable place in the stock market.

The company delivers revenue growth, and it has even managed to maintain a strong balance sheet despite the headwinds that the cannabis industry has been facing. It shows excellent growth potential and may prove to be a good investment opportunity.

Cresco Labs

Cresco Labs is a cannabis company with retail stores in some of the most populated states in the US. It is also one of the top wholesalers of branded cannabis products in the whole country. Cresco products are top-quality cannabis products which are thoughtfully designed to remain consistent and approachable to meet the customer’s needs. Some of their products include flowers, vapes, concentrates, and pre-rolls.

Innovative Industrial Properties 

Innovative Industrial Properties is a leading provider of real estate capital for the regulated cannabis industry and is the first publicly traded company that provides real estate capital to the cannabis industry.

Their portfolio comprises of specialized real estate that is leased to state-licensed cannabis operators in locations that have established regulatory environments. The company buys properties owned by US medical cannabis operators and leases them back to them.

GrowGeneration 

GrowGeneration is one of the largest cannabis specialty retail chains in the cannabis industry, with over 60 stores across 17 states. They have a range of hydroponic products and sell thousands of products like organic nutrients and soil, lighting technology, equipment for commercial and home growers, etc. They also have different kinds of delivery services and equipment financing in partnership with some of the biggest names in the industry.

Jazz Pharma

Jazz Pharmaceuticals has recently acquired a cannabis-focused biotech company called GW Pharmaceuticals. This company has produced one of the first cannabis-based medicines approved by the US Food and Drug Administration.

One of the primary purposes of Jazz Pharma is to use innovation in medicine to transform the lives of patients and their families. They have multiple cannabis-based drugs in different testing phases to treat several illnesses like epilepsy and seizures, sleep disorders, cancer, etc.

Scotts Miracle-Gro 

Scotts Miracle-Gro is a company that aims to empower you and your family to grow different kinds of plants using innovative and compelling products while being sustainable. The company is among the leading suppliers of hydroponic gardening products in the cannabis industry. It is expected to see significant growth despite its short-term challenges.

22nd Century Group 

22nd Century Group is one the leading agricultural biotechnology companies focused on improving people’s health and wellness through plants and plant science, often using hemp and cannabis products. The company uses unique and innovative modern plant breeding technologies like genetic engineering, gene editing, and molecular breeding to give its customers healthier solutions.

TerrAscend Corp.

TerrAscend Corp. is a cannabis operator that is based across multiple states in the US. It is listed on major stock exchanges, including the CSE and the TSE. They have licensed cultivation and processing operations and licensed production in the US and Canada. Their cultivation and manufacturing practices yield consistent and high-quality cannabis for medical and legal adult use.

Verano Holdings

Verano Holding is a relatively newer cannabis operator that went public in the US only in February 2021. They grow over 160 strains of cannabis in state-of-the-art cultivation and production facilities specially designed to suit all kinds of climates and regions. The plants Verano Holdings grow are organic, local, and are known to be exceptionally effective.

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