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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 Cronos Group Inc. (CRON), Tilray Inc. (TLRY), and OrganiGram Holdings Inc. (OGI). Marijuana stocks, as represented by the ETFMG Alternative Harvest ETF (MJ), have substantially underperformed the broader market, providing investors with a total return of -46.4% compared to the S&P 500’s total return of 26.8% over the past 12 months. These market performance numbers and the statistics in the tables below are as of January 29.
Here are the top 3 marijuana stocks with the best value, the fastest earnings 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 young companies that have not reached profitability, this can provide an idea of how much business you’re getting for each dollar invested.
|Best Value Marijuana Stocks|
|Price ($)||Market Cap ($M)||12-Month Trailing P/S Ratio|
|Aphria Inc. (APHA.TO)||CA$6.54||CA$1,654.0||3.7|
|iAnthus Capital Holdings Inc. (IAN.CX)||CA$1.96||CA$336.3||3.7|
|Trulieve Cannabis Corp. (TRUL.CX)||CA$14.28||CA$1,576.0||5.7|
- Aphria Inc.: Aphria is a Canada-based company engaged in the production and sale of medical and recreational cannabis. The company announced at the end of last week that it has entered into an agreement to receive a strategic investment of CA$100 million from an institutional investor. Aphria plans to use the funds to finance international expansion, working capital and general corporate purposes.
- iAnthus Capital Holdings Inc.: iAnthus Capital is a Canada-based holding company that, through its subsidiaries, provides financing and related management and advisory services to licensed operators engaged in the cultivation, manufacturing, and dispensing of cannabis.
- Trulieve Cannabis Corp.: Trulieve Cannabis is a holding company that, through its subsidiaries, engages in the cultivation, possession, sale, and distribution of medical cannabis.
Fastest Growing Marijuana Stocks
These are the marijuana stocks with the highest year-over-year (YOY) sales growth for the most recent quarter. Rising sales show that a company’s business is growing. This is often used to measure growth of young companies that have not yet reached profitability.
|Fastest Growing Marijuana Stocks|
|Price ($)||Market Cap ($M)||Revenue Growth (%)|
|The Valens Co. (VLNS.V)||CA$3.63||CA$455.6||112,800.0|
|GW Pharmaceuticals Plc. (GWPH)||113.57||3,511.0||2,550.0|
|iAnthus Capital Holdings Inc. (IAN.CX)||CA$1.96||CA$336.3||2,300.0|
- The Valens Co.: The Valens Company, formerly Valens GroWorks Corp., is a Canada-based cannabis company specializing in processing and formulation. The company announced in early November that it had acquired Pommies Cider Co., a hard-cider manufacturer from the Greater Toronto area, for CA$7.5 million, subject to achieving certain milestones. The acquisition is consistent with Valens’ intentions to expand its business into Eastern Canada.
- GW Pharmaceuticals Plc.: GW Pharmaceuticals is a U.K.-based biopharmaceutical company that engages in the research and development of cannabinoid medicines for the treatment of cancer pain, Multiple Sclerosis, and neuropathic pain.
- iAnthus Capital Holdings Inc.: See company description above.
Marijuana Stocks with the Most Momentum
These are the marijuana stocks that had the highest total return over the last 12 months.
|Marijuana Stocks with the Most Momentum|
|Price ($)||Market Cap ($M)||12-Month Trailing Total Return (%)|
|Innovative Industrial Properties Inc. (IIPR)||92.40||1,259.0||55.3|
|Sprott Inc. (SII.TO)||CA$3.09||CA$784.3||29.0|
|Cara Therapeutics Inc. (CARA)||16.21||756.7||9.4|
|S&P 500 (SPY)||N/A||N/A||26.8|
|ETFMG Alternative Harvest ETF (MJ)||N/A||N/A||-46.4|
- Innovative Industrial Properties Inc.: Innovative Industrial Properties is a real estate company that engages in the acquisition, ownership and management of industrial properties. The company’s real estate investments consist primarily of properties used for the cultivation and production of medical-use cannabis. Innovative Industrial announced in early November the hiring of Tracie Hager as Vice President of Asset Management and Kelly Spicher as Senior Real Estate Counsel.
- Sprott Inc.: Sprott is a Canada-based alternative asset management company that provides investment management services, including portfolio management, broker-dealer activities, and consulting services to its clients, including those from the cannabis industry. The company announced last week that it had completed its previously announced acquisition of Tocqueville Asset Management LP gold strategies for a total consideration of $50 million. That amount is subject to the achievement of certain financial performance conditions over the two years following the close of the transaction. The acquisition adds about $1.8 billion to Sprott’s total assets under management (AUM).
- Cara Therapeutics Inc.: Cara Therapeutics is a clinical-stage biopharmaceutical company engaged in the research, development, and commercialization of pharmaceutical products. The company offers novel drugs used to treat human diseases associated with pain and inflammation.
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