What is the biggest marijuana company?

The answer to this question depends on how the term "marijuana company" is defined. Curaleaf Holdings (OTC:CURLF), a multistate cannabis operator, currently has the biggest market cap among companies in the cannabis industry. However, other companies with peripheral ties to the industry, such as Quest Diagnostics, are even larger.

How much is the marijuana industry worth?

Global marijuana industry revenue in 2026 is expected to reach $79.5 billion, according to Statista. This number includes medical and recreational cannabis plus cannabidiol (CBD) products.

Is the marijuana industry profitable?

Profitability in the marijuana industry varies from company to company. Some marijuana companies are consistently profitable, but many are not.

Will marijuana stocks ever recover?

Marijuana stocks could eventually rebound from the slump experienced in recent years, especially if major progress is made in relaxing U.S. federal regulations that affect the cannabis industry. However, it's possible that many marijuana stocks won't reach their previous peak levels.

How can investors manage risk in marijuana stocks?

Investors can manage risk in marijuana stocks by:Diversifying their holdings (including potentially buying marijuana ETFs that own a basket of stocks).Considering investing in ancillary stocks that generate steady cash flow.Focusing on the same fundamental factors that apply to any stock.Limiting their initial investment.

How do changes in legislation impact marijuana stocks?

Legislative changes can significantly affect marijuana stocks. On the positive side, relaxation of restrictions on the use of marijuana or on the cannabis industry can provide upside catalysts to marijuana stocks. However, changes in legislation could also tighten restrictions on the cannabis industry, which would likely cause marijuana stocks to fall.

5 Best Marijuana Stocks for 2026 and How to Invest

By Keith Speights – Updated Jul 14, 2026 at 1:44 PM EST | Fact-checked by Frank Bass

Key Points

DEA may reclassify marijuana, boosting business deductions and banking access for companies.
Federal illegality of cannabis introduces significant investment risks.
Understanding the cannabis sector's workings is crucial before investing in marijuana stocks.

Marijuana stocks don't generate the buzz that they did a few years ago. However, the cannabis industry is still in its early growth phase. As more states and countries legalize medical and recreational marijuana, opportunities continue to expand for growers, retailers, biotech firms, and ancillary businesses. One of the biggest potential catalysts is the U.S. Drug Enforcement Administration's move to reclassify marijuana from Schedule I to Schedule III. If finalized, this could:

Allow cannabis companies to deduct normal business expenses (ending IRS burdens).
Improve access to banking services.
Encourage broader institutional investment.

Still, cannabis remains federally illegal in the U.S., and regulatory uncertainty creates real risks for investors. Before investing, it's important to understand how the industry works and how to evaluate marijuana stocks.

Five top marijuana stocks for 2026

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Ticker Information Table
Name and ticker	Market capMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.	Dividend yield	Industry
Green Thumb Industries (OTC:GTBIF)	$1.7 billion	0.00%	Pharmaceuticals
Trulieve Cannabis (NYSE:TRLV)	$1.7 billion	0.00%	Pharmaceuticals
Innovative Industrial Properties (NYSE:IIPR)	$1.8 billion	11.91%	Industrial REITs
Quest Diagnostics (NYSE:DGX)	$23.0 billion	1.60%	Healthcare Providers and Services
Turning Point Brands (NYSE:TPB)	$1.6 billion	0.38%	Tobacco

Data as of Jul 14, 2026. Showing 5 of 5 total entries.

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1. Green Thumb Industries

OTC: GTBIF

Green Thumb Industries

Today's Change

(-1.31%) $-0.10

Current Price

$7.52

Key Data Points

Market Cap

$1.7B

Day's Range

$7.39 - $7.75

52wk Range

$5.29 - $10.43

Volume

659.1K

Avg Vol

584.7K

Gross Margin

45.02%

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Green Thumb (GTBIF -1.31%) ranks among the largest cannabis companies in the U.S. It operates more than 100 retail cannabis dispensaries and 20 manufacturing facilities across 14 states.

The company has been profitable on an annual basis since 2020. It continues to deliver revenue growth and maintains a strong balance sheet even with headwinds in the economy and the cannabis industry. Green Thumb should have plenty of long-term growth potential as the U.S. cannabis market expands.

For now, Green Thumb's shares can only be bought and sold on over-the-counter (OTC) markets in the U.S. However, if federal cannabis restrictions are lifted, the stock could be listed on major U.S. stock exchanges. This would almost certainly be a huge catalyst for Green Thumb.

2. Trulieve Cannabis

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NYSE: TRLV

Trulieve Cannabis

Today's Change

(0.22%) $0.02

Current Price

$9.06

Key Data Points

Market Cap

$1.7B

Day's Range

$8.76 - $9.31

52wk Range

$4.00 - $13.28

Volume

740.8K

Avg Vol

1.1M

Gross Margin

49.56%

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Trulieve Cannabis (OTC:TCNNF) is the largest cannabis retailer in the U.S. It operates more than 250 retail cannabis stores in eight states, with 15 processing facilities in six states. The company dominates the market in its home state of Florida. It also claims market-leading positions in Arizona and Pennsylvania.

Support for legalizing recreational marijuana failed to achieve the required 60% threshold in Florida's 2024 elections. However, with almost 56% of the state's voters favoring legalization, Trulieve could still have a significant growth opportunity if the state legalizes recreational marijuana in the future.

Like Green Thumb, Trulieve's shares can currently only be traded on OTC markets in the U.S. The stock will likely be a big winner if federal marijuana reforms allow U.S. stock exchanges to list shares of U.S.-based cannabis companies.

3. Innovative Industrial Properties

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NYSE: IIPR

Innovative Industrial Properties

Today's Change

(-0.13%) $-0.09

Current Price

$63.71

Key Data Points

Market Cap

$1.8B

Day's Range

$63.41 - $64.85

52wk Range

$44.58 - $64.85

Volume

15K

Avg Vol

389.6K

Gross Margin

60.25%

Dividend Yield

11.91%

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U.S. cannabis companies can't easily secure capital from banks or financial institutions since marijuana remains illegal at the federal level. Innovative Industrial Properties, or IIP (IIPR -0.13%), helps solve cash shortages for growing marijuana companies. It buys properties owned by U.S. medical cannabis operators and leases the properties back to them. The sale to IIP provides the cannabis operator with much-needed cash, and the lease agreements create a steady revenue stream for IIP.

Innovative Industrial Properties has grown significantly in recent years and owned 110 properties in 19 states in July 2026. The company continues to generate solid revenue and earnings, powered by its sale-leaseback business model, even as some of its tenants face financial challenges. Because IIP is organized as a real estate investment trust (REIT), it returns at least 90% of its taxable income to shareholders.

In some ways, IIP wouldn't benefit as much from federal cannabis reform as other companies. Its shares already trade on the New York Stock Exchange (NYSE). If traditional banking services were available to U.S. cannabis operators, IIP could face increased competition. However, federal reforms would likely cause the U.S. cannabis market to expand -- which should work in IIP's favor.

4. Quest Diagnostics

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NYSE: DGX

Quest Diagnostics

Today's Change

(-0.71%) $-1.47

Current Price

$205.88

Key Data Points

Market Cap

$23B

Day's Range

$201.16 - $208.49

52wk Range

$164.65 - $219.20

Volume

34.5K

Avg Vol

911.1K

Gross Margin

31.91%

Dividend Yield

1.60%

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Quest Diagnostics (DGX -0.71%) might be a surprising pick for a list of marijuana stocks, as it's one of the world's largest providers of laboratory testing services.

How does Quest tie in with the cannabis industry? The widespread legalization of marijuana in states across the U.S. is driving increasing demand for drug testing in the workplace. Quest offers drug testing services and is certified by the U.S. Department of Health and Human Services to conduct federally mandated drug testing for workers in certain safety-sensitive fields.

Quest could be an attractive stock for more risk-averse investors looking to profit from cannabis legalization. The company has a long track record of success and is consistently profitable.

5. Turning Point Brands

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NYSE: TPB

Turning Point Brands

Today's Change

(-1.15%) $-0.93

Current Price

$79.99

Key Data Points

Market Cap

$1.6B

Day's Range

$79.24 - $82.75

52wk Range

$65.80 - $146.90

Volume

373K

Avg Vol

458.3K

Gross Margin

56.77%

Dividend Yield

0.38%

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Turning Point Brands (TPB -1.15%) is a leading supplier of smoking accessories and oral tobacco. Its products include Zig-Zag rolling papers, Clipper lighters, and Stoker's and Beechnut tobacco products.

The company has significant growth opportunities due to the legalization of cannabis in the U.S. Turning Point Brands estimates an addressable market of around $200 million in the alternative market for headshops and cannabis dispensaries.

How to buy marijuana stocks

Open your brokerage account: Log in to your brokerage account where you handle your investments. If you don't have one yet, take a look at our favorite brokers and trading platforms to find the right one for you.
Search for the marijuana stock: Enter the ticker into the search bar to bring up the stock's trading page.
Decide how many shares to buy: Consider your investment goals and how much of your portfolio you want to allocate to this stock.
Select order type: Choose between a market order to buy at the current price or a limit order to specify the maximum price you're willing to pay.
Submit your order: Confirm the details and submit your buy order.
Review your purchase: Check your portfolio to ensure your order was filled as expected and adjust your investment strategy accordingly.

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Benefits and risks of investing in marijuana stocks

The benefits of investing in marijuana stocks include:

Potential for near-term appreciation once rescheduling is finalized.
Significant long-term growth potential.
Merger and acquisition opportunities as the cannabis market consolidates.

However, there are also risks of investing in marijuana stocks, including:

Cannabis remains illegal at the federal level in the U.S.
Significant volatility.
Competition from unregulated marijuana.

Methodology: How these stocks were chosen

The primary criterion for choosing these stocks was that they had operations in the cannabis industry. Cannabis operators such as Green Thumb and Trulieve clearly checked off this box. Others, including Innovative Industrial Properties and Quest Diagnostics, provide cannabis-related products and services.

Size was also important. Only companies with market caps of at least $200 million were considered. The stocks of companies with tiny market caps are often illiquid and not good alternatives for most investors.

The growth potential for each stock was another key factor in the selection process. Each of these five stocks appears to have promising long-term growth prospects.

Should you invest in marijuana stocks?

Just because there's a trendy new sector with lots of press and potential growth doesn't mean you need to invest in it. Conservative investors who prefer lower risk are likely better off avoiding marijuana stocks or choosing a marijuana ETF instead.

However, aggressive investors with high risk tolerances will likely find much to like about marijuana stocks. The cannabis industry is still in its early stages. The market opportunities are enormous, especially as more U.S. states legalize cannabis. Investing in these stocks is a high-risk but potentially high-reward proposition.

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FAQ

Investing in Marijuana Stocks FAQ

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About the Author

Keith Speights is a contributing Motley Fool healthcare analyst covering publicly traded companies across pharmaceuticals, biotechnology, medical devices, technology, and marijuana. Prior to The Motley Fool, Keith was CEO of Constant Care Technology, a healthcare technology company; vice president of American HealthTech, a healthcare software company; and a director of operations for Blue Cross Blue Shield of Mississippi, a health insurer. He holds a B.S. in Industrial Engineering from Mississippi State University.

TMFFishBiz

Keith Speights has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Quest Diagnostics. The Motley Fool recommends Green Thumb Industries, Innovative Industrial Properties, and Turning Point Brands. The Motley Fool has a disclosure policy.

5 Best Marijuana Stocks for 2026 and How to Invest

Key Points

Five top marijuana stocks for 2026

1. Green Thumb Industries

Key Data Points

2. Trulieve Cannabis

Key Data Points

3. Innovative Industrial Properties

Key Data Points

4. Quest Diagnostics

Key Data Points

5. Turning Point Brands

Key Data Points

How to buy marijuana stocks

Benefits and risks of investing in marijuana stocks

Methodology: How these stocks were chosen

Should you invest in marijuana stocks?

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5 Best Psychedelic Stocks for 2026 and How to Invest

FAQ

Investing in Marijuana Stocks FAQ

What is the biggest marijuana company?

What is the biggest marijuana company?

How much is the marijuana industry worth?

How much is the marijuana industry worth?

Is the marijuana industry profitable?

Is the marijuana industry profitable?

Will marijuana stocks ever recover?

Will marijuana stocks ever recover?

How can investors manage risk in marijuana stocks?

How can investors manage risk in marijuana stocks?

How do changes in legislation impact marijuana stocks?

How do changes in legislation impact marijuana stocks?

About the Author

Read Next

Stocks Mentioned

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Premium Investing Services

Five top marijuana stocks for 2026

Key Data Points

2. Trulieve Cannabis

Key Data Points

Key Data Points

4. Quest Diagnostics

Key Data Points

5. Turning Point Brands

Key Data Points

How to buy marijuana stocks

Benefits and risks of investing in marijuana stocks

Methodology: How these stocks were chosen

Should you invest in marijuana stocks?

Best Pharmaceutical Stocks for 2026 and How to Invest

Best Growth Stocks to Buy in 2026

6 Best Healthcare Stocks for 2026 and How to Invest

5 Best Psychedelic Stocks for 2026 and How to Invest

Investing in Marijuana Stocks FAQ

What is the biggest marijuana company?

What is the biggest marijuana company?

How much is the marijuana industry worth?

How much is the marijuana industry worth?

Is the marijuana industry profitable?

Is the marijuana industry profitable?

Will marijuana stocks ever recover?

Will marijuana stocks ever recover?

How can investors manage risk in marijuana stocks?

How can investors manage risk in marijuana stocks?

How do changes in legislation impact marijuana stocks?

How do changes in legislation impact marijuana stocks?

3. Innovative Industrial Properties