Best Marijuana Stocks to Buy: Cannabis Stocks for Investing

The best marijuana stocks have been put through the wringer for years. But with U.S. cannabis sales on the rise, these picks could finally have their day in the sun.

A marijuana plant growing in the sun.
(Image credit: Getty Images)

Marijuana stocks have given cannabis investors nothing but false starts over the past few years.

The industry has struggled with a plethora of issues, including delays by the federal government to legalize cannabis nationwide, inflation, overproduction, lack of capital, job losses and cratering stock prices amid a broader market sell-off in early 2025.

It's pretty grim until you consider the cannabis industry's contribution to the American economy.

According to the latest update to the MJBiz Factbook, the total impact of regulated cannabis sales in 2025 could be over $124 billion, 9% higher than in 2024. That's pretty good for an industry some consider to be on its deathbed.

Estimates suggest the total economic impact in the U.S. from cannabis could reach $200 billion by 2030.

While the likelihood of marijuana reform in the U.S. in 2025 is almost non-existent, the number of states where cannabis is legal continues to grow.

Currently, there are only nine states where neither medical nor recreational-use marijuana is legal, while there are 24, plus the District of Columbia, where both are legal.

The industry is well past the tipping point.

Investors who hold the industry's best stocks to buy and the top exchange-traded funds (ETFs) – and perhaps a bit more patience – should be best-positioned for marijuana's eventual renaissance.

Ultimately, the following picks look like the best marijuana stocks (and fund) to benefit from this ongoing growth and maturation.

Data is as of May 12. Dividend yields are calculated by annualizing the most recent payout and dividing by the share price.

Will Ashworth
Contributing Writer, Kiplinger.com

Will has written professionally for investment and finance publications in both the U.S. and Canada since 2004. A native of Toronto, Canada, his sole objective is to help people become better and more informed investors. Fascinated by how companies make money, he's a keen student of business history. Married and now living in Halifax, Nova Scotia, he's also got an interest in equity and debt crowdfunding.

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