The marijuana industry continues to expand, leaving investors with an abundance of options. While Canada remains the hotbed of the cannabis investing world, US cannabis stocks are seeing a rush of interest.
Despite its nebulous federal status, cannabis is flourishing in the US. Companies largely act as multi-state operators (MSOs), owning assets in states where the drug is legal. Others have investments or partnerships.
For those interested in the growing cannabis investment arena, here the Investing News Network offers a look at a variety of publicly traded US cannabis stocks on American exchanges. The list includes US cannabis stocks that are operating in the industry or are involved in the marijuana space through other relationships. Companies are divided by their respective exchanges. Read on to learn more.
NYSE and NYSEAMERICAN
The cannabis companies listed on the NYSE and NYSEAMERICAN represent a mix of pure cannabis plays and established companies that have gained exposure to the marijuana market in one way or another.
Due to federal restrictions on cannabis in the US, the companies on these exchanges can’t be directly involved with the marijuana market in the country by way of touching the cannabis plant itself.
22nd Century Group (NYSEAMERICAN:XXII)
This biotech company is working on the development of genetically modified cannabis plants thanks to a sublicense agreement with Anandia Laboratories, an Aurora Cannabis (NYSE:ACB,TSX:ACB) subsidiary.
Altria Group (NYSE:MO)
As one of the largest tobacco companies, Altria Group manages a portfolio of assets across the globe. The company secured its stake in the marijuana industry with an investment deal signed with Cronos Group (NASDAQ:CRON,TSX:CRON).
Anheuser Busch InBev (NYSE:BUD)
This beverage maker gained an entry to the cannabis space thanks to a partnership to develop marijuana-infused drinks with Tilray (NASDAQ:TLRY).
Aurora Cannabis (NYSE:ACB,TSX:ACB)
Aurora Cannabis is a leading producer of marijuana in Canada and has global operations. The company has acquired players involved in all parts of the supply chain and the development of marijuana technology.
This cannabidiol (CBD) company makes THC-free hemp-based products, including oils, gummies, capsules and creams. It has offerings for people, as well as dogs and cats.
Constellation Brands (NYSE:STZ)
The beverage maker behind Corona beer has a play in the cannabis market thanks to its investment and ownership stake in Canopy Growth (NASDAQ:CGC,TSX:WEED).
Similar to its peers, HEXO was able to secure a partnership with an established beverage maker to develop cannabis-infused drinks. It has a joint venture with Molson Coors Beverage Company (NYSE:TAP).
India Globalization Capital (NYSEAMERICAN:IGC)
An investment holding company, India Globalization Capital focuses on the infrastructure and life science sectors. The company has an established hemp and CBD product distribution network in the US market.
Innovative Industrial Properties (NYSE:IIPR)
Innovative Industrial Properties is a real estate investment trust (REIT) that signs lease deals for the use of facilities in the medical cannabis space. As a REIT, the company operates in the cannabis space, but does not touch the cannabis plant in any way.
Molson Coors Beverage Company (NYSE:TAP)
Molson Coors Beverage Company is another beverage maker that gained an entry to the cannabis market through a partnership. The firm will aid in the development of cannabis-infused drinks for the legal Canadian market as part of its joint venture with HEXO (NYSE:HEXO,TSX:HEXO).
PerkinElmer is focused on diagnostics and life science research, as well as food, environmental and industrial testing. Its reach extends into cannabis and hemp testing solutions.
Power REIT (NYSEAMERICAN:PW)
As its name suggests, Power REIT is another REIT. It owns real estate assets related to controlled environmental agriculture, including greenhouse cannabis cultivation.
Scotts Miracle-Gro Company (NYSE:SMG)
As one of the biggest sellers of lawn and garden products, this company has found a way to gain from the cannabis market by offering services for growers without being directly involved in the industry.