Top U.S. Marijuana Stocks to Watch in November 2025
The U.S. cannabis market continues to evolve quickly as investors search for strong opportunities heading into late 2025. The industry has expanded significantly during the past few years, and it now generates billions in annual revenue. Many states continue to experience steady growth in both medical and adult-use sales. In addition, consumer interest remains high even during broader market volatility. Because of this consistent demand, leading multistate operators continue to strengthen their national presence. However, the sector still moves cautiously, especially with federal reform remaining uncertain. Even so, several companies continue to separate themselves through scale, branding, and strong operational discipline.
Investors are watching the upcoming months closely, especially as conversations about rescheduling and broader cannabis reform continue in Washington. Any meaningful policy shift could change industry conditions quickly. Therefore, traders are paying close attention to operators with durable balance sheets and strong retail networks. Technical analysis also plays a major role right now. Many cannabis charts have been forming tight consolidation patterns, while others are showing signs of renewed momentum. Because volatility remains high, proper risk management is especially important. As always, investors should wait for clean setups, defined support levels, and strong volume confirmation before entering trades.
Consequently, November 2025 offers a unique mix of opportunity and caution. Some companies are demonstrating real financial progress, while others are still battling margin pressure and debt challenges. Yet the long-term potential remains compelling, and many traders believe the sector is nearing an important turning point. With that in mind, three U.S. companies stand out this month. Green Thumb Industries, Curaleaf Holdings, and Cresco Labs each bring strong market presence, growing brand portfolios, and meaningful long-term catalysts. Their business models differ, yet each company offers a distinct advantage within the evolving U.S. cannabis landscape. These stocks deserve close attention as the industry moves toward its next phase of growth.
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The Best U.S. Marijuana Stocks for November 2025
- Green Thumb Industries Inc. (OTC: GTBIF)
- Curaleaf Holdings Inc. (OTC: CURLF)
- Cresco Labs Inc. (OTC: CRLBF)
Green Thumb Industries Inc. (GTBIF)
Green Thumb Industries remains one of the most established multistate cannabis operators in the country. The company is headquartered in Chicago and continues to expand through its well-known RISE Dispensaries chain. It operates in major markets such as Illinois, Florida, Pennsylvania, Ohio, and New York. Today, the company manages more than 100 dispensaries across fourteen states, giving it a strong national footprint. This reach helps the company connect with both medical and adult-use consumers. Green Thumb also owns several well-recognized cannabis brands that range from premium flower to edibles and wellness products. Because of this diversified approach, the company benefits from consistent brand loyalty. Additionally, its vertical structure allows it to control cultivation, manufacturing, and retail. This improves margins while also supporting stable product quality. As the U.S. industry matures, Green Thumb remains positioned as a reliable operator with strong long-term potential.
Financially, Green Thumb continues to demonstrate disciplined management and steady performance. The company recently reported quarterly revenue approaching the $300 million range, showing slow but stable year-over-year growth. Gross margins remain healthy, supported by strong retail traffic and expanding product categories. More importantly, the company continues to generate positive net income. This is meaningful in an industry where many operators still struggle with profitability. Green Thumb also maintains a strong cash position, which helps support future growth and provides a cushion during volatile market periods. Operating cash flow remains consistent, driven by efficient cost controls and predictable demand in key markets. Adjusted EBITDA margins stay near the high-20% range, pointing to strong operational discipline. Although growth is gradual, it remains steady. Because of these strengths, Green Thumb stands out as one of the more financially stable U.S. cannabis operators entering November 2025.
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Curaleaf Holdings Inc. (CURLF)
Curaleaf Holdings maintains its position as the largest cannabis operator in the United States based on total revenue. The company operates more than 145 dispensaries nationwide and has a presence in over seventeen states. Curaleaf’s largest operations include Florida, Arizona, New York, and New Jersey, though it remains active in many additional markets. The company’s scale gives it major advantages in distribution, branding, and long-term retail growth. Curaleaf also supports a broad wholesale network, allowing its products to reach stores outside its own chain. Furthermore, the company remains one of the few U.S. operators with a developing international footprint. This expansion strategy could provide meaningful opportunities as global markets gradually move toward legalization. Despite ongoing challenges across the sector, Curaleaf’s national reach continues to make it a central player in the industry.
On the financial side, Curaleaf regularly reports quarterly revenue above $300 million, demonstrating strong consumer demand. Nevertheless, the company still faces profitability challenges. Net losses remain part of its financial picture as it manages costs, restructures operations, and invests in long-term projects. Even so, gross margins remain solid near the 50% level, reflecting strong product performance. The company continues to strengthen its balance sheet while also improving free cash flow through more efficient operations. Cash reserves remain adequate, giving Curaleaf space to manage debt and pursue selective growth. Although profitability is not yet consistent, signs of operational improvements are emerging. Investors must balance Curaleaf’s enormous growth potential against its ongoing financial risks. If federal reform advances or wholesale pricing stabilizes, Curaleaf could benefit significantly. Therefore, the stock remains one of the most closely watched cannabis names in the U.S. market.
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Cresco Labs Inc. (CRLBF)
Cresco Labs continues to build a strong reputation as a leader in branded cannabis products and retail operations. The company is headquartered in Chicago and operates the well-known Sunnyside retail chain. Its presence extends into major markets such as Illinois, Pennsylvania, Ohio and Florida, giving it a broad base of consumers. Cresco focuses heavily on branded product consistency, which helps strengthen customer loyalty. Its portfolio includes popular options across flower, concentrates, vapes and edibles, allowing the company to compete in several key categories. Additionally, Cresco maintains a meaningful wholesale distribution network. This strategy allows the company’s brands to reach stores beyond its own retail footprint. Though store counts vary by state, Cresco has built efficient operations in competitive markets. Its product-led approach gives it a unique position as the industry shifts toward brand-driven consumer behavior.
Financially, Cresco continues to deliver stable revenue in the mid-$160 million range each quarter. Gross margins remain near the high-40% level, driven by better production efficiency and steady demand. However, Cresco still reports net losses due to restructuring costs, debt-related expenses and non-cash adjustments. Even so, the company has maintained positive operating cash flow, which is encouraging for long-term stability. Cresco’s disciplined structure suggests that the company may be entering a more stable period. Although profitability has not yet been achieved, Cresco continues improving operational consistency. If pricing pressures ease or regulatory changes improve industry conditions, Cresco could gain significant upside. Its strong brand presence, reliable demand and growing retail network give it several potential catalysts for recovery. As a result, Cresco remains a potential value opportunity for investors seeking long-term growth within the U.S. cannabis sector.
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