Top Marijuana Stocks for September 2021

HITI.V is top for value and JUSH.CX is top for growth and momentum

The marijuana industry is made up of companies that either support or are engaged in the research, development, distribution, and sale of medical and recreational marijuana. Cannabis has begun to gain wider acceptance and has been legalized in a growing number of nations, states, and other jurisdictions for recreational, medicinal, and other uses. Some of the biggest companies in the marijuana industry include Canopy Growth Corp. (CGC), Cronos Group Inc. (CRON), and Tilray Inc. (TLRY). Many big marijuana companies have continued to post sizable net losses as they focus on investing in equipment to speed up revenue growth.

Marijuana stocks, as represented by the ETFMG Alternative Harvest ETF (MJ), have slightly outperformed the broader market. MJ has provided a total return of 36.9% over the past 12 months, above the Russell 1000 Index's total return of 35.0%. These market performance numbers and all statistics in the tables below are as of Aug. 23, 2021.

Here are the top five marijuana stocks with the best value, the fastest growth, and the most momentum:

Best Value Marijuana Stocks

These are the marijuana stocks with the lowest 12-month trailing price-to-sales (P/S) ratio. For companies in the early stages of development or industries suffering from major shocks, this can be substituted as a rough measure of a business's value. A business with higher sales could eventually produce more profit when it achieves (or returns to) profitability. The P/S ratio shows how much you're paying for the stock for each dollar of sales generated.

Best Value Marijuana Stocks
  Price ($) Market Cap ($B) 12-Month Trailing P/S Ratio
High Tide Inc. (HITI.V) CA$9.20 CA$0.5 2.1
Acreage Holdings Inc. (ACRG.A.U.CX) 3.10 0.3 2.3
Village Farms International Inc. (VFF.TO) CA$11.81 CA$1.0 3.2
Cresco Labs Inc. (CL.CX) CA$12.75 CA$3.4 3.3
Hydrofarm Holdings Group Inc. (HYFM) 46.14 2.0 3.4

Source: YCharts

  • High Tide Inc.: High Tide is a Canada-based company engaged in the manufacture and retail of cannabis accessories. The company operates a cannabis retail chain, a global manufacturer and distributor of consumption accessories, and three accessories e-commerce platforms. Its brands include Canna Cabana, Meta Cannabis, NewLeaf Cannabis, Grasscity, Smoke Cartel, Daily High Club, DankStop, CBDcity, FAB CBD, Valiant Distribution, and Famous Brandz. High Tide's online platforms had nearly 100 million site visits in 2020. The company's stock also trades in the U.S. on the Nasdaq under the ticker HITI. The company recently completed its acquisition of DS Distribution Inc., an online retailer operating as The agreement to acquire DankStop for $3.85 million was announced on July 20, 2021.
  • Acreage Holdings Inc.: Acreage Holdings owns a portfolio of cannabis brands. Through its subsidiaries, the company engages in the cultivation, processing, manufacturing, and dispensing of cannabis and related products. Its brands include the Botanist, Superflux, and Prime. Acreage has a footprint in 12 U.S. states, including operational dispensaries and operational cultivation and processing facilities. The company's stock also trades over the counter (OTC) in the U.S. under the ticker ACRHF.
  • Village Farms International Inc.: Village Farms International is a Canada-based agricultural producer. In addition to growing vegetables like tomatoes, bell peppers, and cucumbers, the company also produces cannabis. The company distributes fresh produce from controlled-environment agriculture (CEA) greenhouses in Canada and the U.S., as well as from partner greenhouses in Canada and Mexico. The company's stock also trades in the U.S. on the Nasdaq under the ticker VFF. Village Farms recently announced that it has acquired Balanced Health Botanicals for $75 million. Balanced Health Botanicals is a privately held company based in Colorado that owns and operates one of the largest brands in the U.S. CBD market.
  • Cresco Labs Inc.: Cresco Labs is a consumer-packaged cannabis products company involved in growing, manufacturing, and distribution. The company operates in 10 states, including production facilities and dispensaries. Its brands include Cresco, Reserve, Remedi, High Supply, Wonder Wellness Co., Mindy's, Good News, Sunnyside, and FloraCal Farms. Cresco Labs' stock also trades OTC in the U.S. under the ticker CRLBF. The company recently announced that it has agreed to acquire 100% of the outstanding equity interests in Blair Wellness LLC, a medical cannabis dispensary based in Maryland. Cresco is buying Blair Wellness for roughly 1.8 times its estimated 2021 revenue. The deal is expected to close by the end of the year.
  • Hydrofarm Holdings Group Inc.: Hydrofarm Holdings Group is a holding company that, through its subsidiaries, makes and distributes hydroponic products to customers throughout the U.S. and Canada. The company operates hundreds of brands. It has six distribution locations in the U.S., offering a product line of over 5,000 items. Hydrofarm announced in early August that it acquired Greenstar Plant Products Inc., a Canada-based nutrient company, for approximately $83 million. Greenstar manufactures the Grotek and Gaia Green brands and is Hydrofarm's latest plant nutrient manufacturer acquisition. In July, the company acquired Aurora Innovations Inc., Aurora International Inc., and Gotham Properties LLC, which are collectively called Aurora.

Fastest-Growing Marijuana Stocks

These are the marijuana stocks with the highest year-over-year (YOY) sales growth for the most recent quarter. Rising sales can help investors identify companies that are able to grow revenue organically or through other means and find growing companies that have not yet reached profitability. In addition, accounting factors that may not reflect the overall strength of the business can significantly influence earnings per share. However, sales growth can also be potentially misleading about the strength of a business because growing sales for money-losing businesses can be harmful if the companies have no plan to reach profitability.

Fastest-Growing Marijuana Stocks
  Price ($) Market Cap ($B) Revenue Growth (%)
Jushi Holdings Inc. (JUSH.CX) CA$6.06 CA$1.0 219.7
GrowGeneration Corp. (GRWG) 31.07 1.9 189.7
Ayr Wellness Inc. (AYR-A.CX) CA$32.58 CA$1.9 185.6
Verano Holdings Corp. (VRNO.CX) CA$14.74 CA$1.8 164.3
Innovative Industrial Properties Inc. (IIPR) 237.15 5.7 100.7

Source: YCharts

  • Jushi Holdings Inc.: Jushi Holdings is a holding company focused on branded cannabis and hemp-based assets. The company is engaged in retail, distribution, cultivation, and processing operations. Its brands include: The Bank, focused on plant genetics and cultivation; The Lab, specializing in vape products and concentrates; Nira, a maker of hemp-based CBD products that are physician formulated; Nira+, a producer of medicinal THC products; Sèche, which offers various branded ground and flower cannabis products; and Tasteology, a provider of THC-infused products. Jushi also trades OTC in the U.S. under the ticker JUSHF. The company announced in mid-July that it completed its acquisition of licensed cultivator OhiGrow LLC and Ohio Green Grow LLC, collectively known as OhiGrow, for $5 million.
  • GrowGeneration Corp.: GrowGeneration is a distributor of agricultural products and one of the largest hydroponics suppliers in the country. The company operates retail hydroponic and organic specialty gardening retail outlets. It offers thousands of products, including plant nutrition, farming soils, advanced lighting technology, and hydroponic and aquaponic equipment. It owns and operates 60 retail and distribution centers. GrowGeneration has been on an acquisition spree in 2021, its latest purchases including: Commercial Grow Supply, a California-based hydroponic superstore; and Hoagtech Hydroponics, a Washington-based hydroponic equipment and indoor gardening store. Hoagtech and Commercial Grow Supply marked GrowGeneration's 13th and 14th acquisitions since the start of the year, respectively. The financial terms of the transactions were not disclosed.
  • Ayr Wellness Inc.: Ayr Wellness is a cannabis company involved in the cultivation, manufacturing, and dispensing of cannabis and cannabis-derived products. The company's product portfolio includes flowers, tinctures, edibles, and vape products under brands including Kynd, Sira Naturals, Entourage, and Highly Edible. Ayr Wellness also trades OTC in the U.S. under the ticker AYRWF. The company recently announced plans to buy Cultivauna LLC, owner of Levia-branded cannabis-infused seltzers and water-soluble tinctures. Under the agreement, Ayr will pay $20 million in upfront consideration and an earnout payment of up to an additional $40 million based on the achievement of revenue targets in 2022 and 2023. The transaction is expected to close by the end of the year.
  • Verano Holdings Corp.: Verano Holdings is a vertically integrated, multistate cannabis operator. The company produces a wide range of medical and adult-use cannabis products, which it sells through its portfolio of brands: Verano, Avexia, Encore, and MÜV. It owns and operates 11 cultivation and manufacturing facilities and 84 retail locations in a number of states throughout the U.S. The company's stock also trades OTC in the U.S. under the ticker VRNOF. Verano announced in late July that it has agreed to acquire WSCC Inc., which operates under the name Sierra Well, for $29 million. The acquisition includes two dispensaries and a cultivation and production facility in Nevada.
  • Innovative Industrial Properties Inc.: Innovative Industrial Properties is a real estate investment trust (REIT) that engages in the acquisition, disposition, development, and management of industrial facilities leased to tenants in the regulated medical cannabis industry. The company's portfolio consists of specialized industrial and greenhouse buildings leased to state-licensed, medical-use cannabis cultivators across the U.S.

Marijuana Stocks With the Most Momentum

Momentum investing is a factor-based investing strategy in which you invest in a stock whose price has risen faster than the market has as a whole. Momentum investors believe that stocks that have outperformed the market will often continue to do so because the factors that caused them to outperform will not suddenly disappear. In addition, other investors, seeking to benefit from the stock's outperformance, will often purchase the stock, further bidding its price higher and pushing the stock higher still. These are the stocks that had the highest total return over the past 12 months.

Marijuana Stocks With the Most Momentum
  Price ($) Market Cap ($B) 12-Month Trailing Total Return (%)
Jushi Holdings Inc. (JUSH.CX) CA$6.06 CA$1.0 128.7
Ayr Wellness Inc. (AYR.A.CX) CA$32.58 CA$1.9 117.2
Innovative Industrial Properties Inc. (IIPR) 237.15 5.7 102.4
Tilray Inc. (TLRY) 13.37 6.0 101.4
Green Thumb Industries Inc. (GTII.CX) CA$36.21 CA$8.0 95.9
Russell 1000 N/A N/A 35.0
ETFMG Alternative Harvest ETF (MJ) N/A N/A 36.9

Source: YCharts

  • Jushi Holdings Inc.: See above for company description.
  • Ayr Wellness Inc.: See above for company description.
  • Innovative Industrial Properties Inc.: See above for company description.
  • Tilray Inc.: Tilray is a Canada-based cannabis lifestyle and consumer packaged goods company with global operations. The company engages in cannabis research, cultivation, and distribution. It sells various cannabis products, hemp-based foods, and alcoholic beverages. Tilray offers products under more than 20 brands in over 20 countries in North America, Europe, Australia, and Latin America.
  • Green Thumb Industries Inc.: Green Thumb Industries is a consumer-packaged cannabis products company and retailer. It manufactures and distributes a variety of branded cannabis products through its portfolio of brands, including Beboe, Dogwalkers, Doctor Solomon's, incredibles, Rythm, and the Feel Collection. The company also owns and operates retail cannabis stores called Rise. Green Thumb has 13 manufacturing facilities and scores of retail locations, with operations across 12 U.S. markets. The company's stock also trades OTC in the U.S. under the ticker GTBIF. Green Thumb announced in early August that it has completed its acquisition of Delaware-based Mobley Pain Management and Wellness Center LLC and Rhode Island-based Canwell Processing LLC. The financial terms of the transactions were not disclosed.

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