Here’s What To Know About Cannabis Stocks Now That Marijuana Is A Class 3
Donald Trump’s recent executive order moving cannabis off Schedule I marks a pivotal moment for the U.S. cannabis sector. While the order does not legalize marijuana at the federal level, rescheduling fundamentally changes how the plant is viewed under federal law. With meaningful implications for operators, investors, and public markets. For the cannabis industry, the most immediate impact is financial. A shift to Schedule III would effectively eradicate IRS Section 280E. This is a law that currently prevents cannabis businesses from deducting standard operating expenses.
Removing this burden could dramatically improve margins and cash flow. As well as strengthen balance-sheets across multi-state operators and vertically integrated companies. Improved profitability also enhances the industry’s ability to reinvest, consolidate, and professionalize operations. From an investment standpoint, marijuana stocks are likely to experience both short-term volatility and longer-term repricing. Initial market reactions may reflect uncertainty around implementation timelines and future regulatory steps.
However, companies with strong fundamentals stand to benefit most as financial metrics normalize. Rescheduling also signals reduced federal risk, which could attract sidelined institutional capital and expand analyst coverage over time. All of which could have a positive impact on how cannabis stocks trade in the market. For investors seeking to remain profitable, the path forward is one of selective positioning rather than broad speculation. Focus on operators with positive cash flow potential post-280E. Below are several marijuana stocks to watch as things begin to evolve further.
Top Marijuana Stocks For Investors Today
- Green Thumb Industries Inc. (OTC:GTBIF)
- Ayr Wellness Inc. (OTC:AYRWF)
- Jushi Holdings Inc. (OTC:JUSHF)
Green Thumb Industries Inc.
Green Thumb Industries Inc. manufactures, distributes, markets, and sells of cannabis products for medical and adult-use in the United States. 
It operates through two segments, Retail and Consumer Packaged Goods. In early November, the company reported its Q3 2025 earnings.
Keymentions And Highlights
- Revenue of $291.4 million, an increase of 1.6% over the prior year.
- Cash at quarter end totaled $226.2 million.
- GAAP net income of $23.3 million or $0.10 per basic and diluted share, excluding the one-time gain on asset sales, GAAP net income would have been $9.7 million or $0.04 per basic and diluted share.
- Adjusted EBITDA of $80.2 million or 27.5% of revenue.
- Cash flow from operations of $74.1 million.
[Read More] 3 Marijuana Stocks For You To Invest In That Could Yield Profits
Ayr Wellness Inc.
Ayr Wellness Inc. cultivates, manufactures, and retails cannabis products and branded cannabis packaged goods in the United States. On November 17th, the company announced the initiation of proceedings under the Companies’ Creditors Arrangement Act in the Supreme Court of British Columbia. 
The CCAA proceedings are part of the Company’s restructuring process. This is pursuant to the previously disclosed Restructuring Support Agreement dated July 30, 2025. Under the RSA, core assets of AYR’s subsidiaries will be transitioned to a newly-formed acquisition vehicle owned by certain of AYR’s senior noteholders.
[Read More] Donald Trump Has Officially Reclassified Marijuana To A Schedule 3 Substance
Jushi Holdings Inc.
Jushi Holdings Inc., a vertically integrated cannabis company, engages in the cultivation, processing, retail, and distribution of cannabis for the medical and adult-use markets in the United States. 
In more recent news, Jushi announced that there will be an amendment to the CEO’s employment agreement. All of the Employment Agreement Amendments were approved on behalf of the Company by the independent directors of the Company.
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