One of the best reasons to buy low-priced stocks is they often have more room to rise in value than higher-priced stocks, especially in the fast-growing cannabis industry. They can also be more liquid, since investors won't be put off by the idea of owning just one or two shares, or even just a fraction of a share. Priced at $10 or less, you could own 10 shares of a company with a modest $100 investment. With $1,000, you could own 100 shares or more.

Four of the best cannabis stocks that you can buy today at less than $10 are Cresco Labs (OTC:CRLBF)Village Farms (NASDAQ:VFF)Tilray (NASDAQ:TLRY), and Curaleaf (OTC:CURLF). The marijuana industry is still in its early growth stages, and these stocks could position you for some great returns later on. Here's why each of these stocks is an attractive buy today. 

Cannabis greenhouse.

Image source: Getty Images.

1. Cresco Labs

Chicago-based Cresco Labs is experiencing exciting sales growth, after Illinois legalized adult-use marijuana in 2019. The Illinois Department of Revenue has already collected more than $100 million in tax revenue from the recreational marijuana market. Posting record-breaking sales month after month has been the norm for the state, which reported recreational sales of $67.6 million in September -- up from $39.2 million in January. And Cresco Labs is in a great position to benefit from the new market, with nine locations in Illinois and a 10th in the works. If you're looking for a stock that can benefit from the state's explosive growth, Cresco is certainly it. (The company even has a strategic dispensary located near Wrigley Field.)

Through the first six months of 2020, Cresco's sales totaled $160.6 million -- more than triple the $50.9 million that it generated during the same period last year. The company has been growing thanks to a combination of acquisitions (including Origin House, which it closed earlier this year) and organic growth in its existing operations. And with a variety of different brands available, Cresco is able to meet the needs of a wide cross-section of cannabis consumers, including those looking for premium products, edibles, and medical products. Today, the stock trades around $7.50 and is up 10% year to date.

2. Village Farms

Village Farms is an appealing investment because the British Columbia-based company recently took complete ownership of Pure Sunfarms, a low-cost cannabis producer. Previously, Village Farms owned a portion of Pure Sunfarms through a joint venture with Emerald Therapeutics. Today, it owns 100% of the greenhouse, having bought out Emerald's holdings in September for 79.9 million Canadian dollars.

For the first two quarters of 2020, Pure Sunfarms contributed just under $4 million to Village Farms' bottom line. In its most recent quarterly results, released on Aug. 12 for the period through the end of June, Village Farms' ownership of Pure Sunfarms was just 58.7%. With a greater stake in the greenhouse, Village Farms will stand to benefit even more from its efficient operations. In the six-month period ended June 30, Pure Sunfarms generated net income of $7 million -- 31% of its net sales. Village Farms reported a profit of $4.1 million over the same period, the bulk of which was due to Pure Sunfarms.

With a greater share of Pure Sunfarms, Village Farms is in a solid position to achieve profitability in future quarters (it's only posted a profit once in its last four quarters), which could make it a bargain buy at a price of around $5 today. Its year-to-date sales (excluding Pure Sunfarms) total $79.7 million and have grown 9% from the same period last year. On its own, Village Farms wouldn't be all that exciting of an investment. But with Pure Sunfarms secured, Village Farms is a hot buy. Year to date, shares of Village Farms are down 15%.

3. Tilray

British Columbia-based Tilray has more diversified business operations than your typical cannabis stock. Tilray released quarterly results on Aug. 10. Its year-to-date sales of $102.5 million grew an impressive 49% year over year. Its cannabis sales of $60.9 million rose 40% from the prior-year period, and hemp revenue climbed 63% to $41.6 million. For the quarter ended June 30, Tilray's hemp sales of $20.2 million surpassed its adult-use revenue of $17.6 million.

In a mixed bag of results, it can be difficult to predict how the company will fare. But that can also insulate Tilray investors from any one particularly weak segment of the industry. With exposure to the adult-use market, medical marijuana, international markets, and hemp, the company offers investors access to a mix of many areas of the marijuana market.

Today, the stock is trading at over $6 per share and is down more than 60% in 2020. Year to date, it has incurred losses totaling $265.8 million; impairment charges of $58.2 million and $83.2 million worth of changes in the fair value of warranty liabilities have negatively impacted its bottom line. A year ago, Tilray's losses for the first two quarters totaled $65.7 million. Tilray is one of the riskier buys under $10, but it could prove to be the perfect contrarian buy if it can strengthen its bottom line.

4. Curaleaf

Investing in Massachusetts-based multistate operator Curaleaf is arguably the best way to take advantage of the cannabis industry's growth in the U.S. With operations in 23 states, including 95 dispensaries, Curaleaf is active in most of the states that permit some form of marijuana. And there could be even more expansion to come. In November, voters in Arizona, Montana, New Jersey, and South Dakota will be voting on recreational marijuana. Voters in South Dakota and Missouri will decide whether to legalize medical marijuana.

Curaleaf released its second-quarter results on Aug. 17, and its total revenue for the first two quarters of 2020 totaled $214 million -- 156% higher than the $83.7 million it recorded over the same period in 2019. Curaleaf's year-to-date loss of $17.1 million is also an improvement from the $34.8 million loss it incurred last year. It's an impressive feat given the company's rapid growth. Earlier this year, the company closed on its acquisition of Cura Partners (which owns the Select brand) and Grassroots. Curaleaf has also been busy expanding the Select brand, which was a preferred brand among West Coast consumers. In October, Curaleaf launched the Select brand in Ohio, the 14th state where the brand is now offered. At a price of around $9, this stock may not stay below $10 for much longer if it can keep growing at such an impressive rate. This marijuana stock is up an impressive 50% year to date.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.