In this article, we will discuss: 7 Best Hemp Stocks To Buy Now.
On April 30, Reuters reported that after the U.S. rescheduled loosened restrictions, firms developing cannabis-based drugs are planning for initial public offerings and private financing. Executives told Reuters that the regulatory adjustment lowers stigma and has the potential to attract mainstream investors. Melissa Sturgess, CEO of Ananda Pharma, said that the company is preparing to fund $10 million to $20 million, adding that “we have calls lined up already with a VC investor.” According to Reuters, the Justice Department has rescheduled FDA-approved cannabis treatments and state-regulated products, which will improve banking access and tax treatment.
Brett Schuman, co-chair of Goodwin, said, “Rescheduling will get the capital flowing again,” citing investor feedback. CEO of IGC Pharma Ram Mukunda said that limited banking access and timing uncertainties kept institutions away, despite interest. The company is considering a $50 million financing. Aras Azadian, CEO of Avicanna, noted that the earlier Schedule I status made U.S. research “quite difficult,” whereas rescheduling allows for market access and cooperation despite persisting federal-state regulatory gaps.
With that said, here are the 7 Best Hemp Stocks To Buy Now.
Methodology:
We used screeners to identify Hemp Stocks and limited our final selection to companies that have recently reported noteworthy developments likely to impact investor sentiment. These stocks are also popular among analysts and elite hedge funds.
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 498.7% since May 2014, beating its benchmark by 303 percentage points (see more details here).
7. GrowGeneration Corp. (NASDAQ:GRWG)
On March 24, 2026, GrowGeneration Corp. (NASDAQ:GRWG) reported that its Char Coir brand will release a next-generation propagation method, the Coco Coin Tray and Insert Tray. This will promote initial-stage plant development and cultivation performance. The firm marketed the technique as a “modern, mess-free” alternative to traditional soil or peat-based methods, targeted at both home gardeners and professional farmers, while developing proprietary services.
Founder Michael Leone said that the products provide “better starts, less transplant shock, and healthier plants,” resulting in an “ideal environment for early root development.” Darren Lampert, Chief Executive Officer, said that the launch is part of a plan to produce innovative products that improve grower outcomes while supporting profit expansion.
Separately, GrowGeneration Corp. (NASDAQ:GRWG) said in its 2026 outlook that it expects net revenue of $162 million to $168 million. Its proprietary brands are expected to take up about 40% of Cultivation & Gardening sales, gross margins of 27% to 29%, and breakeven adjusted EBITDA.
GrowGeneration Corp. (NASDAQ:GRWG) is involved in the development, marketing, retail, and distribution of hydroponic products and services. It operates in three segments: Cultivating and gardening, storage solutions, and corporate.
6. The Scotts Miracle-Gro Company (NYSE:SMG)
On April 29, Jefferies analyst Jonathan Matuszewski decreased his price target for The Scotts Miracle-Gro Company (NYSE:SMG) to $79 from $82. It maintained a Buy rating on the shares. The analyst added that it expects a “favorable set-up” because of new growth efforts and cost savings.
On April 29, The Scotts Miracle-Gro Company (NYSE:SMG) reported Q2 net sales of $1.46 billion, up 5% year on year. It also increased gross margin to 41.8%, up 280 basis points. The firm reported GAAP EPS of $4.46, increasing 18%, and adjusted EPS of $4.53, growing by 13%. Its adjusted EBITDA was $437.4 million, up by 9%.
CEO Jim Hagedorn said that the company “continued our growth trajectory.” CFO Mark Scheiwer said that the firm had “a strong second quarter,” and noted sales growth and profitability expansion.
The firm reaffirmed its 2026 outlook, which includes low single-digit US consumer sales growth and adjusted EPS of $4.15 to $4.35.
The Scotts Miracle-Gro Company (NYSE:SMG) makes, markets, and sells lawn and garden care products. It also gives indoor and hydroponic growing solutions.
While we acknowledge the potential of SMG 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 SMG and that has 100x upside potential, check out our report about the cheapest AI stock.
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