In this article, we will discuss: 12 Best Marijuana Stocks to Buy According to Analysts.
Marijuana stocks, frequently known as cannabis stocks, are publicly traded firms that operate in the legal cannabis market. This can include any company participating in the supply chain, from plant cultivation and processing to distribution and sale of cannabis and related goods.
The US administration is looking into reclassifying marijuana from Schedule I to Schedule III under the Controlled Substances Act, a move that may substantially alter the marijuana industry. Currently, marijuana is classified as having a high potential for abuse and no recognized medical use under Schedule I, which bars businesses from using standard banking and exposes them to Section 280E of the federal tax code, which prohibits business deductions. The removal of 280E limits by reclassification would cut effective tax rates, increase profitability, and provide access to institutional investors and lower-cost investments. The announcement caused U.S.-listed cannabis-related stocks to soar. However, analysts point out that reclassification does not imply legalization.
According to TD Cowen analyst Jaret Seiberg:
“It seems more likely to us that Trump would revive the effort at the DEA to move cannabis to Schedule III, which would permit the government to regulate it.”
With that said, here are the 12 Best Marijuana Stocks to Buy According to Analysts.
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Our Methodology
For this article, we compiled an initial list of 15 marijuana stocks. Then we selected the 12 stocks that had the highest upside potential as of September 5, 2025. We have only included stocks in our list with an upside potential of 4% or higher. The stocks are ranked in ascending order of upside potential.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
12. Aurora Cannabis Inc. (NASDAQ:ACB)
Analysts’ Upside Potential as of September 5: 4.55%
Aurora Cannabis Inc. (NASDAQ:ACB) and German healthcare technology company Copeia have released an English-language version of the Physician Experience Platform (PEP). The platform has over 130 anonymized case studies detailing real-world medicinal cannabis treatments, including patient history, symptoms, dose, outcomes, and concurrent medicines. PEP, which is initially available in Canada, the United Kingdom, Poland, Malta, the Czech Republic, Australia, and New Zealand, intends to provide healthcare professionals with access to peer-reviewed clinical insights. Aurora Cannabis Inc. (NASDAQ:ACB)’s Director of Medical & Patient Affairs, Dr. Stephanie Lunn, stated that the launch “sets a new standard in peer-led clinical knowledge sharing.”
PEP builds on the successful German launch in 2024 and is protected by a DocCheck login for verified physicians. The firm intends to create an international medical cannabis case study database that will enable physicians from around the world to upload cases in the future. Aurora Cannabis Inc. (NASDAQ:ACB) operates in the global medicinal and consumer cannabis markets under names such as MedReleaf, CanniMed, Drift, and San Rafael ’71. It is one of the Best Marijuana Stocks.
11. Turning Point Brands, Inc. (NYSE:TPB)
Analysts’ Upside Potential as of September 5: 5.47%
Turning Point Brands, Inc. (NYSE:TPB) confirmed the launch of Stoker’s Fine Cut Wintergreen in a compact 1.2-ounce can in 15 states. The Fine Cut Wintergreen, which was previously only available in 12-ounce tubs, offers the same silky, fire-cured tobacco flavor and moisture content in a portable form. Senior Brand Director Thomas Helms III stated, “Our consumers have been asking for a Fine Cut Wintergreen can — and we listened,” adding that the launch improves Stoker’s moist smokeless tobacco (MST) line and gives retailers new growth possibilities. According to internal research, MST sales are three to five times greater in retailers that stock both cans and tubs.
Stoker’s is the No. 2 chewing tobacco brand and a rapidly expanding brand in the MST area. The launch facilitates national distribution and category extension, with availability scheduled for both independent and chain retailers in 2025. Stoker’s® is manufactured and marketed by Turning Point Brands, Inc. (NYSE:TPB), a prominent manufacturer, marketer, and distributor of branded consumer products. It is among the Best Marijuana Stocks.
10. The Scotts Miracle-Gro Company (NYSE:SMG)
Analysts’ Upside Potential as of September 5: 12.90%
The Scotts Miracle-Gro Company (NYSE:SMG) made major strides toward sustainability and ESG targets in its 2025 Corporate Responsibility Report. Key accomplishments for the company included diverting 1.76 million pounds of coir waste for industrial and agricultural use, reducing virgin plastic with Ortho brand reusable pouches, and achieving 100% recyclable packaging for its O.M. Scott & Sons brand. The amount of water used for greenhouse irrigation was reduced by over 50%. The company also reached over 157 million people through partnership programs that promote water quality and land conservation.
Jim Hagedorn, the firm’s chairman and CEO, highlighted the company’s goal to “GroMoreGood” by harmonizing its goods with environmental responsibility. The Scotts Miracle-Gro Company (NYSE:SMG) introduced Miracle-Gro Organic Raised Bed & Garden Soil in 2024, and in 2025, it added both indoor and outdoor organic products to its portfolio. The company has continued to support community efforts. It has provided over 180 grants for garden and green space education programs, including partnerships with The Nature Conservancy and Columbus City Schools. It is ranked tenth on our list of the Best Marijuana Stocks.
9. Cronos Group Inc. (NASDAQ:CRON)
Analysts’ Upside Potential as of September 5: 16.53%
Cronos Group Inc. (NASDAQ:CRON) announced $33.5 million in net revenue for the second quarter of 2025, a 21% jump year over year. The growth was due to booming cannabis flower sales in Israel and international markets, Cronos GrowCo consolidation, and stronger Canadian extract sales. The gross profit increased from $8.2 million in the second quarter of 2024 to $14.5 million. Adjusted EBITDA climbed by $12.7 million from the previous year to $1.7 million. Cronos reported a net loss of $38.5 million despite sales growth and efficiency benefits.
Cronos Group Inc. (NASDAQ:CRON)’s PEACE NATURALS® retained its position as Israel’s leading cannabis brand, driving record sales in the country. CEO Mike Gorenstein noted planned flower capacity growth and strong global momentum to alleviate supply limitations in Canada. This quarter’s flower sales brought roughly $2.2 million for Cronos GrowCo. The firm maintains a strong balance sheet with $834 million in cash and no debt, allowing it to support international growth and innovation in brands including Lord Jones® and Spinach®. It is one of the Best Marijuana Stocks.
8. Village Farms International, Inc. (NASDAQ:VFF)
Analysts’ Upside Potential as of September 5: 17.65%
Village Farms International, Inc. (NASDAQ:VFF) reported that the Board of Directors granted the conversion of the remaining 550,000 square feet of its Delta 2 greenhouse in Delta, British Columbia, to cannabis production. The initial planting of the phased expansion is planned for spring 2026, and it is anticipated to grow production capacity by 40 metric tonnes annually. The $10 million CAD project is expected to be completely ramped up by Q1 2027 and will be financed with available funds.
Village Farms International, Inc. (NASDAQ:VFF) will have 2.2 million square feet of cannabis production space after this conversion is finished, an improvement of 33% that will solidify its place as one of the biggest cannabis producers in the world. CEO Michael A. DeGiglio stressed the company’s methodical “crawl, walk, run” strategy for growing operations. He pointed out that the development supports the company’s nearly 40 years of experience in controlled environment agriculture and supports ongoing profitable growth in both Canadian and foreign markets. It is among the Best Marijuana Stocks.
7. Tilray Brands, Inc. (NASDAQ:TLRY)
Analysts’ Upside Potential as of September 5: 32.77%
Breckenridge Brewery, a craft brewery owned by Tilray Brands, Inc. (NASDAQ:TLRY), announced that the Colorado Green Business Network has awarded it Silver Certification. The certification, which was formally given out on July 29, 2025, acknowledges Breckenridge Brewery’s quantifiable sustainability advancements, such as waste minimization, energy and water efficiency, employee training, and the decrease of greenhouse gas emissions. Hannah Kight, Senior Environmental and Safety Manager, stated, “Everything we do is woven with sustainability, from how we brew our beer to how we engage with our community.”
Initiatives at Tilray Brands, Inc. (NASDAQ:TLRY)’s Breckenridge Brewery include brewing beer with recycled water in collaboration with South Platte Renew. It maintains solar panels that supply 20% of its electricity and reaches 99% waste diversion by delivering leftover grains to Colorado farmers. Furthermore, the brewery exhibited its commitment to ongoing environmental improvement by working with Colorado State University’s Impact MBA program to host an EPA-funded fellow specializing in pollution avoidance. It is ranked seventh on our list of the Best Marijuana Stocks.
6. Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI)
Analysts’ Upside Potential as of September 5: 38.89%
Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) and Lineage Merchant Partners declared that Vireo Growth Inc. (CSE: VREO), of which Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) is the majority shareholder, has signed definitive merger agreements with Proper Cannabis (Missouri), Deep Roots Harvest (Nevada), and WholesomeCo Cannabis (Utah). It includes the acquisition of Arches, their analytics, and their distribution platform.
The merged company will have 48 dispensaries, nine cultivation facilities, and 1,043,500 square feet of production and manufacturing space spread throughout seven states upon completion. Vireo valued the deals at about $397 million and also announced a $75 million equity offering at $0.625 per share. The December 2024 agreement places Vireo as a key player in a cannabis business that is consolidating and substantially expanding its reach and profitability. It is one of the Best Marijuana Stocks.
5. Innovative Industrial Properties, Inc. (NYSE:IIPR)
Analysts’ Upside Potential as of September 5: 54.89%
Innovative Industrial Properties, Inc. (NYSE:IIPR) has announced a $270 million investment in IQHQ, Inc., a life sciences real estate platform with approximately $5 billion in assets. A $100 million three-year-term revolving credit facility and up to $170 million in preferred stock acquisitions are part of the deal. The funding will be provided in several tranches between Q3 2025 and Q2 2027. It is projected that the investment will yield an annual weighted average interest rate of more than 14% and offer upside through warrants. Cannabis-related rental income will drop to 88% of the firm’s overall rental income after closing, expanding its holdings, and lowering tenant concentration.
Executive Chairman Alan Gold described this as Innovative Industrial Properties, Inc. (NYSE:IIPR)’s “first expansion outside of cannabis,” using decades of life science real estate experience, including his leadership at BioMed Realty Trust, which was sold to Blackstone for $8 billion in 2016. The agreement puts Innovative Industrial Properties, Inc. (NYSE:IIPR) in a solid position to capitalize on the life science sector’s strength in the face of declining new real estate deliveries and healthy fundraising patterns in 2025. It is among the Best Marijuana Stocks.
4. GrowGeneration Corp. (NASDAQ:GRWG)
Analysts’ Upside Potential as of September 5: 65.56%
GrowGeneration Corp. (NASDAQ:GRWG), the nation’s biggest specialty hydroponic and organic gardening company, has established a strategic distribution collaboration with Arett Sales to grow its wholesale presence in the United States. The company’s exclusive brands, such as Char Coir, Drip Hydro, Power Si, The Harvest Company, and Viagrow, will be distributed through Arett’s 32-state network, which serves independent garden centers, hardware stores, nurseries, and national accounts, according to the agreement. Its retail footprint and market access will be significantly boosted by Arett’s 650,000 square feet of warehouse space in Connecticut, Ohio, and California. It will facilitate daily delivery and store-level service.
Michael Salaman, GrowGeneration Corp. (NASDAQ:GRWG)’s president and co-founder, referred to the partnership as a “major milestone” for the firm’s wholesale growth, placing its sustainable, high-performing products in thousands of new stores across the country. Noah Chesbrough, president of sales at Arett, commented on the market for the company’s environmentally friendly goods as well as the company’s potential to grow throughout North America. The agreement promotes its plan to expand its wholesale and national account capabilities, increase retail channel access, and promote margin-accretive growth.
3. SNDL Inc. (NASDAQ:SNDL)
Analysts’ Upside Potential as of September 5: 101.61%
SNDL Inc. (NASDAQ:SNDL) reported Q2 2025 net sales of $244.8 million, an improvement of 7.3% YoY, led by 17.4% growth in its cannabis business and a return to growth in its liquor retail division. Operating income reached $5.0 million, including a $0.8 million restructuring charge, while gross profit climbed 16.2% to $67.6 million with a 27.6% gross margin. $5.8 million was adjusted operating income. Working capital investments and CAPEX caused free cash flow to be negative at $7.9 million despite solid P&L performance. SNDL Inc. (NASDAQ:SNDL) had no debt and $208.2 million in unrestricted cash at the end of the quarter.
CEO Zach George stated that SNDL Inc. (NASDAQ:SNDL)’s Q2 operating income and net earnings were positive for the first time. Strategic measures included a $32.2 million agreement to buy 32 cannabis outlets from 1CM Inc., the creation of the Rise Rewards loyalty program, and a $9.5 million CAPEX investment for retail expansion. Furthermore, the business increased exports to the UK and EU and developed its U.S. strategy. It is one of the Best Marijuana Stocks.
2. WM Technology, Inc. (NASDAQ:MAPS)
Analysts’ Upside Potential as of September 5: 123.08%
WM Technology, Inc. (NASDAQ:MAPS) released Q2 2025 financial results, with sales of $44.8 million, a modest decrease from $45.9 million the previous year. It was due to a reduction in Weedmaps for Business and featured listing revenues, partially offset by higher ad solution revenues. Adjusted EBITDA jumped 16% to $11.7 million, whereas net income surged 81% to $2.2 million. The average monthly revenue per client decreased from $3,033 to $2,852, but the average number of monthly paying clients shot up from 5,045 to 5,241. Cash grew to $59 million, with no debt on the balance sheet. Adjusted EBITDA is anticipated to be between $5 and $7 million, while the Q3 sales projection is between $41 and $43 million.
CEO Doug Francis noted growth from emerging market clients and stressed solid cash flow and thorough execution despite difficult cannabis markets. The company pointed out its capital flexibility and debt-free status. WM Technology, Inc. (NASDAQ:MAPS) keeps balancing investment and cost control to set itself up for long-term growth in the face of industry consolidation and price deflation. It is among the Best Marijuana Stocks.
1. Canopy Growth Corporation (NASDAQ:CGC)
Analysts’ Upside Potential as of September 5: 328.15%
Canopy Growth Corporation (NASDAQ:CGC) released Q1 FY2026 net revenue of $72.1M, up 9% year-over-year. This growth was fuelled by a 13% rise in medical cannabis sales and a 43% increase in adult-use cannabis sales in Canada to $27M. International cannabis revenue jumped 5% to $8.8 million, but Storz & Bickel vaporizer revenue decreased 25% to $15.1 million. The consolidated gross margin declined from 35% to 25% as a result of lower high-margin Poland sales and a shift toward higher-cost manufactured products. The net loss from continuing operations fell 21% to $23 million, while SG&A expenses fell 21% as part of $17 million in annualized cost savings obtained since March 2025. The amount of cash and short-term investments rose to $144 million.
CEO Luc Mongeau reported significant share growth in cannabis markets with high demand, while interim CFO Tom Stewart noted improving gross margins as a top target for FY2026. A new Storz & Bickel vaporizer is scheduled for introduction later in 2025. Canopy Growth Corporation (NASDAQ:CGC) anticipates that automation and increased PRJ production will boost margins in the second half. It is the Best Marijuana Stock.
While we acknowledge the potential of CGC to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CGC and that has 100x upside potential, check out our report about this cheapest AI stock.
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