Top Marijuana Penny Stocks to Watch This Week Amid Industry Growth
The U.S. cannabis industry continues to expand despite recent market volatility. In 2024, legal cannabis sales surpassed $30 billion nationwide. Analysts project sales could grow to nearly $50 billion by 2030. This growth is fueled by the opening and expansion of new markets and medical programs. Recently, headlines focused on ongoing discussions about federal legalization and potential reclassification of cannabis under the Controlled Substances Act. Although full reform remains uncertain, optimism persists as more states approve recreational use. Therefore, penny stocks in the marijuana sector can offer high-risk but high-reward opportunities. However, investors must remain selective and prepared for sharp swings in value.
Because these stocks exhibit high volatility, technical analysis becomes a crucial tool. Traders often use support and resistance levels to spot opportunities. Additionally, monitoring moving averages and volume patterns can provide better timing. Proper risk management is equally critical. Position sizing should remain small to reduce exposure. Stop-loss levels must be planned before entry. Moreover, diversifying across multiple trades helps mitigate downside risk. When combined, these strategies enable traders to capture potential gains while minimizing excessive risk. Consequently, marijuana penny stocks can fit into a balanced watchlist when approached with discipline and caution.
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3 Marijuana Stocks to Watch Before October 2025
- AYR Wellness Inc. (OTC: AYRWF)
- Planet 13 Holdings Inc. (OTC: PLNH)
- Verano Holdings Corp. (OTC: VRNOF)
AYR Wellness Inc. (AYRWF)
Company, footprint, and dispensaries
AYR Wellness is a U.S. multi-state operator with a strong retail-led strategy. The company has built a portfolio of cannabis brands and dispensaries across several regulated markets. Its largest presence is in Florida, where it recently celebrated its 67th dispensary opening in Miami-Midtown, marking its first store within Miami city limits. The company has also expanded into Ohio with a growing store base. Across the U.S., AYR currently operates more than 90 licensed dispensaries, making it one of the larger retail operators in the cannabis sector. Florida serves as the company’s main growth driver, supported by cultivation and production facilities. However, AYR has been reshaping its footprint by closing underperforming locations and reallocating capital to higher-growth markets. This strategy reflects its commitment to long-term efficiency. As the company continues its transition, both investors and traders should watch for operational catalysts heading into year-end.
Latest financials
AYR Wellness reported 2024 revenue of approximately $463.6 million, but also posted a net loss of about $161 million. These results underscored the need for restructuring and capital reallocation. In 2025, the company filed its first-quarter financials, providing updates on liquidity and performance. AYR also entered a restructuring support agreement designed to reduce debt and prioritize its strongest assets. Currently, the company operates around 97 stores and remains focused on improving efficiency and profitability. Management continues to emphasize cost controls and stronger retail productivity, particularly in Florida. The Ohio market also offers growth potential as adult-use legalization progresses. Execution on same-store performance and margin stabilization will be critical. While risk remains elevated, AYR’s scale and turnaround efforts provide opportunities for those willing to navigate volatility. The company’s success in 2025 will depend on disciplined execution and stronger cash flow generation.
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Planet 13 Holdings Inc. (PLNH)
Company, footprint, and dispensaries
Planet 13 is one of the most recognized retail brands in cannabis, best known for its Las Vegas SuperStore. The store serves as both a retail dispensary and a destination experience center, attracting thousands of visitors each month. Beyond Las Vegas, Planet 13 also operates a SuperStore in Orange County, California, and a newer location in Waukegan, Illinois. However, the company’s largest retail presence today is in Florida. Planet 13 closed its acquisition of VidaCann in 2024, which added 26 medical dispensaries and a fully integrated supply chain. By March 2025, the Florida network had grown to 32 dispensaries, with new openings continuing throughout the year. The company also launched its first Las Vegas cannabis consumption lounge, DAZED!, in 2025. This blend of destination retail and a growing Florida footprint offers Planet 13 a unique advantage in combining brand appeal with scale.
Latest financials
Planet 13 reported second-quarter 2025 revenue of $26.9 million. However, the company also posted a net loss of $13.3 million and an adjusted EBITDA loss of $2.4 million. These results reflect the near-term challenges of integrating VidaCann and managing expansion expenses. Florida remains the company’s largest growth opportunity, but it requires significant upfront investment in systems and infrastructure. While expenses currently outpace revenues, the integration of VidaCann’s supply chain and retail footprint sets the foundation for future margin improvements. Investors should watch same-store sales trends, gross margins, and the pace of new Florida openings. Additionally, brand penetration across multiple markets remains a priority. Stronger sell-through of Planet 13’s proprietary products could help lift margins. Tourism in Las Vegas also plays a key role in quarterly results. Although the company faces short-term financial pressure, its unique combination of destination appeal and Florida scale positions it for long-term growth.
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Verano Holdings Corp. (VRNOF)
Company, footprint, and dispensaries
Verano is one of the largest multi-state operators in the U.S., with operations in 13 states. The company runs dispensaries under the Zen Leaf and MÜV brands. Florida is Verano’s most important retail market, where it operates 82 MÜV dispensaries as of September 2025. This makes Verano one of the largest players in the state. The company also owns 15 production facilities, totaling more than 1.1 million square feet of cultivation and processing space. Nationally, Verano operates over 150 dispensaries, offering a mix of medical and adult-use access. Its strategy blends high-density retail with vertical integration in limited-license markets. This balance allows the company to maximize operating leverage as demand expands. With Florida’s potential shift to adult-use in the coming years, Verano’s extensive presence gives it a strong competitive advantage. The company’s scale and diversified footprint make it a top operator in the cannabis industry.
Latest financials
In the second quarter of 2025, Verano reported revenue of about $202 million. Adjusted EBITDA reached $66 million, representing a 33% margin. Operating cash flow was $11 million, while capital expenditures came in at $10 million. Although revenue was down compared to the prior year and the previous quarter, Verano maintained strong margins through disciplined cost controls. This financial resilience positions the company well for long-term growth. Florida remains the most important catalyst, as a shift to adult-use sales would significantly boost revenue. Additionally, branded product expansion across multiple states supports margin stability and retail loyalty. Verano’s balance sheet and consistent cash generation provide flexibility for expansion, acquisitions, or new store development. Overall, Verano combines scale, efficiency, and a dominant Florida footprint. This makes it one of the most defensively positioned marijuana stocks heading into the final quarter of 2025.
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U.S. Cannabis Market Growth Sparks Interest in Marijuana Penny Stocks
Each of these marijuana stocks offers a unique investment profile before October 2025. AYRWF represents a restructuring play with potential upside if execution improves. PLNH blends destination retail with a growing Florida presence, creating a long-term growth story. VRNOF stands out as a scaled operator with resilient margins and strong exposure in Florida. For investors, technical analysis and proper risk management will remain essential. Watching support and resistance levels, volume trends, and market catalysts can help identify optimal entry points. While risks remain in the cannabis sector, these three companies offer compelling opportunities as we head into late 2025.
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
