11 Best Cannabis Stocks To Invest In

5. Canopy Growth Corporation (NASDAQ:CGC)

Number of Hedge Fund Holders: 9

An early mover in the Canadian market, Canopy Growth Corporation (NASDAQ:CGC) engages in the production, distribution, and sale of cannabis and cannabinoid-based products for both adult use and medical purposes.

Canopy Growth Corporation’s (NASDAQ:CGC) net revenue decreased 9% YoY in Q2 2025 ending September 30th 2024. However, if we exclude net revenue from businesses divested during the prior fiscal year, net revenue increased by 3%. Its Germany-based Storz & Bickel business, known for premium high-margin devices like the Volcano and Venti, delivered an overall net revenue growth of 32% YoY. The brand also witnessed strong growth in the US, led by increased orders from new distribution partners. Moreover, the company’s Canadian medical cannabis segment grew 16% YoY, while the Canada adult-use cannabis declined by 24%, in part due to an interruption in the supply of Wana edibles. It also seems to be doing well on the international front, as its sales grew by 72% YoY in the high-margin European markets. Canopy Growth’s asset-light model for Europe is also coming online now, supported by agreements with multiple EU-based cultivators, and is expected to provide the scalability that it needs to meet rising demand over the coming quarters without the need for heavy capital investments. The firm still incurred a net loss of $820,000 during Q2 2025, but it was approximately 37% less than the net loss it suffered in the same period last year.

The company is positioning itself to be a top Canadian entrant into the US market, as earlier this week, it announced the acquisition of Acreage, a multi-state operator of cannabis ‎cultivation and retailing facilities in the country. This comes after it had already announced the acquisitions of Wana Wellness, The CIMA Group, and Mountain High Products in October.

David Klein, CEO of Canopy Growth Corporation (NASDAQ:CGC) stated:

“Completing the acquisition of Acreage marks the final step in establishing Canopy USA as a unified platform which we believe offers significant upside as the Canopy USA portfolio of brands can now capitalize on the rapidly expanding U.S. cannabis market, independent of the need for federal legalization. With a vertically integrated presence across key U.S. states in the Midwest and Northeast, as well as licensing agreements which support asset-light operations in state-legal markets nationally, Canopy USA is well positioned to demonstrate efficient growth ahead.”