5 top hemp stocks to buy in 2024

Both hemp and cannabis are increasingly popular industries. But while these two industries are based on the same plant, there is a key difference. Cannabis stocks are shares of companies that offer THC and CBD products, more commonly known as marijuana. Hemp refers to products with little to no THC. Hemp is most commonly used in clothing as an eco-friendly fiber and in health foods, like vegan hemp milk.

We've compiled a list of popular hemp stocks. The best stocks depend on your portfolio and investment goals — while volatility can be ideal for day traders, long-term investors will want to look to stocks with steadier gains over time. And if you're looking for more info on cannabis stocks, read our guide to investing in marijuana.

5 popular hemp stocks picks to buy in 2024

We round up a selection of stocks in or related to the hemp industry, weighting the list more heavily towards popular mid- and large-cap US stocks.

1. Levi Strauss-and-Co Class A (LEVI)
2. Campbell Soup Company (CPB)
3. Tilray (TLRY)
4. Amazon-com (AMZN)
5. Ecofibre (EOF)

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The hemp stocks industry is affected by a range of complex factors such as trade policies, regulations, and fluctuating supply and demand. So when considering hemp stocks to buy, it's important that you have access to vital information about a company's financial health, leadership team, and market positioning.

Our picks for platforms with research tools

How to invest in hemp stocks

1. Choose an online stock trading platform. Choose from our Top Picks above, use our comparison table below or jump straight to the best stock trading apps of 2024.
2. Sign up for an account. Provide your personal information and sign up.
3. Set up a funding method to pay for the transaction. Deposit funds into your account by linking your banking information.
4. Choose the stocks you want to buy. Search for the stock by name or ticker symbol like LEVI or CPB.
5. Place your order. Buy the stock. It's that simple.

Take a deeper dive into hemp stocks

If you're interested in investing in the hemp industry, take a closer look at what companies in this industry do and how the stocks have historically performed. Keep in mind that positive past performance doesn't guarantee that a stock will continue to rise in the future.

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1. Levi Strauss-and-Co Class A (LEVI)

Levi Strauss & Co. designs, markets, and sells apparels and related accessories for men, women, and children worldwide. The company offers jeans, casual and dress pants, activewears, tops, shorts, skirts, dresses, jumpsuits, shirts, sweaters, jackets, footwear, and related accessories under the Levi's, Dockers, Signature by Levi Strauss & Co.

Levi Strauss-and-Co Class A stock opened the day at $21.15 after a previous close of $21.09. The latest price was $21.13 (25-minute delay). Levi Strauss-and-Co Class A is listed on the NYSE, has a trailing 12-month revenue of around USD6 billion and employs 19,100 staff.

• Market capitalization: $8,179,495,424
• P/E ratio: 68.5

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2. Campbell Soup Company (CPB)

Campbell Soup Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States and internationally. The company operates through Meals & Beverages and Snacks segments. The Meals & Beverages segment engages in the retail and foodservice businesses in the United States and Canada.

Campbell Soup Company stock opened the day at $45.17 after a previous close of $45.37. The latest price was $44.85 (25-minute delay). Campbell Soup Company is listed on the NYSE, has a trailing 12-month revenue of around USD$9.3 billion and employs 14,500 staff.

• Market capitalization: $13,575,611,392
• P/E ratio: 17.8588
• PEG ratio: 1.3305

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3. Tilray (TLRY)

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. The company operates through four segments: Cannabis Business, Distribution Business, Beverage Alcohol Business, and Wellness Business.

Tilray stock opened the day at $1.77 after a previous close of $1.75. The latest price was $1.78 (25-minute delay). Tilray is listed on the NASDAQ, has a trailing 12-month revenue of around USD$743.2 million and employs 1,600 staff.

• Market capitalization: $1,424,213,376

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4. Amazon-com (AMZN)

Amazon. com, Inc. engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally.

Amazon-com stock opened the day at $177.80 after a previous close of $173.67. The latest price was $179.62 (25-minute delay). Amazon-com is listed on the NASDAQ, has a trailing 12-month revenue of around USD$574.8 billion and employs 1,525,000 staff.

• Market capitalization: $1,837,012,746,240
• P/E ratio: 60.8931
• PEG ratio: 2.32

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5. Ecofibre (EOF)

Ecofibre Limited, together with its subsidiaries, engages in the researching, producing, and selling of polymer-based industrial products and hemp derived nutraceuticals and food in the United States and Australia. The company operates through three segments: Ananda Health, Ananda Food, and Hemp Black. It offers cannabinoid based health products for human and pet consumption; hemp related food products; and textile and hemp products.

Ecofibre stock opened the day at A$0.06 after a previous close of A$0.06. The latest price was A$0.06 (25-minute delay). Ecofibre is listed on the Australian Securities Exchange (ASX) and has a trailing 12-month revenue of around AUD$29.7 million. All prices are listed in Australian Dollars.

• Market capitalization: $23,111,314

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Compare more stock trading platforms to invest in hemp stocks

Compare online trading platforms by fees, asset types and bonuses to find the best for your investment in hemp stocks.

Bottom line

While it’s possible to turn a profit investing in hemp stocks, keep in mind that — like any investment — hemp stocks are not immune to risk. These stocks are subject to fluctuating conditions — both in the market and in the hemp industry, so carefully vet your picks before you invest. And if you’re new to investing, or if it’s been awhile since you’ve taken a critical look at your investing accounts, compare brokers to make sure you’re getting the best features in your trading account.

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