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Best cannabis stocks

Check out the 8 best weed stocks on the TSX.

Best cannabis stocks on the TSX Jump to list
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Worth over $13 billion USD, the global legal cannabis sector is expected to grow 25.5% annually until 2030, according to a 2021 Grand View Research report. Find out how to invest in cannabis stocks and cannabis ETFs in Canada, and check out a list of the best weed stocks.

Best weed stocks on the TSX

Cronos Group Inc (CRON.TO)

Cronos Group Inc. operates as a cannabinoid company that engages in the cultivation, production and marketing of cannabis products in Canada, Israel, and Germany.
  • Market cap: C$1.525 billion
  • YTD performance: -52.66%
  • 1 Year performance: 87.84%
  • 5 Year performance: 87.84%
  • P/E Ratio: N/A
  • Headquarters: Canada

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OrganiGram Holdings Inc (OGI.TO)

Organigram Holdings Inc., through its subsidiaries, engages in the production and sale of cannabis and cannabis-derived products in Canada. It offers medical cannabis products, including whole flower, milled flower, pre-rolls, infused pre-rolls, vapes, gummies, and concentrates for medical retailers; adult use recreational cannabis under the SHRED, Holy Mountain, Big Bag O' Buds, Monjour, Trailblazer, SHRED'ems, Edison Cannabis Co., Edison JOLTS, Tremblant, and Laurentian brands.
  • Market cap: C$279.128 million
  • YTD performance: 68.83%
  • 1 Year performance: 485.72%
  • 5 Year performance: 485.72%
  • P/E Ratio: N/A
  • Headquarters: Canada

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Canopy Growth Corp (WEED.TO)

Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in Canada, the United States, and Germany. It operates through two segments, Global Cannabis and Other Consumer Products.
  • Market cap: C$1.011 billion
  • YTD performance: 138.93%
  • 1 Year performance: 2981.64%
  • 5 Year performance: 4239.09%
  • P/E Ratio: N/A
  • Headquarters: Canada

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Tilray Inc (TLRY.TO)

Tilray Brands, Inc. engages in the research, cultivation, processing, and distribution of medical cannabis products in Canada, the United States, Europe, Australia, New Zealand, Latin America, and internationally.
  • Market cap: C$2.209 billion
  • 1 Year performance: 41%
  • 5 Year performance: 41%
  • P/E Ratio: N/A
  • Headquarters: Canada

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Curaleaf Holdings Inc. (CURA.TO)

Curaleaf Holdings, Inc. operates a cannabis operator in the United States.
  • 1 Year performance: 117.55%
  • 5 Year performance: 148.73%
  • P/E Ratio: N/A
  • Headquarters: Canada

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The Green Organic Dutchman Holdings Ltd (TGOD.TO)

The Green Organic Dutchman Holdings Ltd., through its subsidiaries, produces and sells organic cannabis in Canada. It offers organic cannabis products, such as cannabis plants, cannabis plant seeds, dried cannabis, fresh cannabis, cannabis oils, cannabis topicals, cannabis extracts, and edible cannabis to retailers or distributors, and federal licensed entities.
  • Market cap: C$89.955 million
  • P/E Ratio: N/A
  • Headquarters: Canada

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Aurora Cannabis Inc (ACB.TO)

Aurora Cannabis Inc., together with its subsidiaries, produces, distributes, and sells cannabis and cannabis-derivative products in Canada and internationally. It operates through three segments: Canadian Cannabis, European Cannabis, and Plant Propagation.
  • Market cap: C$548.121 million
  • YTD performance: -3.24%
  • 1 Year performance: 1945.1%
  • 5 Year performance: 1945.1%
  • P/E Ratio: N/A
  • Headquarters: Canada

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Village Farms International Inc (VFF.NASDAQ)

Village Farms International, Inc., together with its subsidiaries, produces, markets, and sells greenhouse-grown tomatoes, bell peppers, and cucumbers in North America. It operates through four segments: Produce, Cannabis-Canada, Cannabis-U.S., and Energy.
  • Market cap: $138.914 million
  • YTD performance: -87.46%
  • 1 Year performance: 126.32%
  • 5 Year performance: 126.32%
  • P/E Ratio: N/A
  • Headquarters: USA

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Neptune Wellness Solutions Inc (NEPT.NASDAQ)

Neptune Wellness Solutions Inc. operates as a consumer packaged goods company in Canada, the United States, and internationally.
  • Market cap: $906,408
  • YTD performance: -94.9%
  • 1 Year performance: INF%
  • 5 Year performance: INF%
  • P/E Ratio: N/A
  • Headquarters: USA

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What you should know before buying the best cannabis stocks

There’s no single winning strategy to finding what experts might call the best weed stocks on the TSX by performance, because the most important considerations are your own goals and circumstances. It’s not personal financial advice, and your personal objectives and financial situation have not been taken into consideration. Do your own research, and speak with an investment professional if in doubt.

Whether you care more about short-term capital gains or long-term dividend growth, it’s important to know whether a stock is performing well, making a profit, paying dividends or going backwards. Always remember that past performance does not guarantee future results. Investments can increase and decrease in value.

This list and data was compiled September 14, 2022. The algorithm was last updated 27 January 2021.

Buy the best cannabis stocks through an online broker

To invest in weed stocks, you’ll need a brokerage account. Compare online stock trading platforms below, and click Go to site to get started.

1 - 5 of 5
Name Product Finder Rating Available Asset Types Stock Trading Fee Account Fee Signup Offer Table description
Interactive Brokers
Finder Score:
4.2 / 5
Stocks, Bonds, Options, Index Funds, ETFs, Currencies, Futures
min $1.00, max 0.5%
Winner for Best Overall Broker in the Finder Stock Trading Platform Awards.
Moomoo Financial Canada
Finder Score:
3.9 / 5
Stocks, Options, ETFs
Get up to $1,300 or a $1,200 Apple gift card
Trade US stocks for up to 90% less and access free real time stock quotes and level 2 market data. T&C's Apply.
CIBC Investor's Edge
Finder Score:
3.7 / 5
Stocks, Bonds, Options, Mutual Funds, ETFs
$0 if conditions met, or $100
100 free trades + up to $4,500 cash back
An easy-to-use platform with access to a variety of tools to help you trade with confidence.
Finder Score:
3.9 / 5
Stocks, Bonds, Options, Mutual Funds, ETFs, GICs, International Equities, Precious Metals
$4.95 - $9.95
Get $50 in free trades when you fund your account with a minimum of $1,000.
Opt for self-directed investing and save on fees or get a pre-built portfolio to take out some of the guesswork.
Qtrade Direct Investing
Finder Score:
3.6 / 5
Stocks, Bonds, Options, Mutual Funds, ETFs, GICs
$6.95 - $8.75
$0 if conditions met, otherwise $25/quarter
Get up to a $150 sign-up bonus. Use code OFFER2024. Ends October 31, 2024.
Low trading commissions and an easy-to-use platform with access to powerful tools and a wide selection of investment options.

How do I buy cannabis stocks?

  1. Choose a stock trading platform. If you’re a beginner, our table below can help you choose.
  2. Open your account. You’ll need your ID, bank details and Social Insurance Number (SIN).
  3. Confirm your payment details. You’ll generally need to fund your account with a bank transfer.
  4. Find the stocks you want to buy. Search the platform and buy shares of the companies or ETFs you like. It’s that simple.

Invest in cannabis ETFs

Cannabis stocks aren’t the only way to buy into the industry. Exchange traded funds (ETFs) hold stocks in many companies. Sometimes, these funds hold stocks listed in a specific index with the goal of mimicking how that index performs.

  • Horizons Marijuana Life Sciences Index ETF (TSX: HMMJ)
  • ETFMG Alternative Harvest (NYSEArca: MJ)
  • The Cannabis ETF (NYSEArca: THCX)
  • Cambria Cannabis ETF (BATS: TOKE)
  • AdvisorShares Pure Cannabis ETF (NYSEArca: YOLO)

Marijuana products

While smoking weed for recreational purposes is perhaps the most well-known use of cannabis, there are many types of businesses that can benefit from this growing industry. Cannabis can be used in a variety of ways including:

  • Medicinal products. Medicinal cannabis is used for the treatment of cancer pain, epilepsy, palliative care, chemotherapy nausea, neuropathic pain, anorexia and neurological conditions. Cannabidiol, also known as CBD, is a derivative of the marijuana plant that’s become increasingly popular for medical uses.
  • Science and research. Scientific study of marijuana has accelerated in recent years with the discovery of many other beneficial compounds besides the psychoactive THC.
  • Recreational use. Marijuana as a recreational drug is legal in Canada but still restricted in some states and the US federal government. However, legalizing is starting to occur in parts of the US.
  • Food products. Hemp is used as an ingredient in a range of products including cooking oils, snacks, protein powder, cooking flour and more. The sale of food products made from hemp seeds was authorized in the US by the 2018 Farm Bill.
  • Building materials. Hemp is used in insulation and building construction materials and has several names such as hempcrete, hemp masonry and hemplime.
  • Clothing. Hemp is broadly recognized as one of the most sustainable materials available in clothing manufacturing.
  • Beauty products. Hemp is commonly used in health and beauty products like moisturizers, lip balms, makeup and skin oils.

Marijuana vs. hemp

Unlike marijuana, hemp does not have psychoactive properties. While hemp and marijuana come from the same cannabis plant, hemp contains only trace amounts of THC—the psychoactive component that gives the feeling of “getting high.” Typically, hemp is used in food products, building materials and textiles, while marijuana is used for medicinal and recreational purposes.

Bottom line

The legal cannabis industry is growing significantly, and there are a number of ways investors can get on board including weed stocks and ETFs. Keep in mind that past performance does not guarantee a profit. All investments come with risk.

Before buying cannabis stocks, carefully compare stock trading platforms to make sure you find the one that’s right for you.

Frequently asked questions

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades. Read the Product Disclosure Statement (PDS) and Target Market Determination (TMD) for the product on the provider's website.

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