3 U.S. Marijuana Penny Stocks to Watch in January 2026
U.S. marijuana penny stocks can deliver sharp moves in short periods. That volatility creates opportunity, but it also raises risk. Therefore, focusing on operators with real assets and retail exposure matters. Companies with dispensaries, production, and brand recognition often hold attention longer. As January 2026 begins, these three names stand out for different reasons.
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3 U.S. Cannabis Penny Stocks Traders Are Watching in January 2026
- FLUENT Corp. (OTC: CNTMF)
- Glass House Brands (OTC: GLASF)
- Cresco Labs (OTC: CRLBF)
FLUENT Corp. (CNTMF)
FLUENT Corp. is a U.S.-based multi-state cannabis operator with a growing retail footprint. The company focuses on branded cannabis products across several regulated markets. Although CNTMF trades at penny stock levels, the business itself has meaningful scale. That difference often attracts speculative interest during sector rotations.
Florida is FLUENT’s largest and most important market. The company operates the majority of its dispensaries in the state. Florida’s medical-only structure still supports large patient volumes. As a result, consistent retail execution can generate steady demand. FLUENT operates more than 30 dispensaries in Florida alone. In total, the company runs roughly 37 retail locations nationwide. It also operates multiple cultivation and production facilities to support those stores.
Outside Florida, FLUENT maintains exposure to New York, Pennsylvania, and Texas. This geographic spread reduces reliance on a single market. Meanwhile, management has focused on closing underperforming stores. That decision aims to improve margins and operational efficiency. Therefore, CNTMF enters January as a turnaround-style penny stock. Any improvement in execution could quickly change sentiment.
From a financial standpoint, recent quarters have shown pressure but also stability. Revenue has remained relatively flat year over year. Pricing pressure has weighed on gross margins, especially in Florida. However, the company still generates positive gross profit. Adjusted EBITDA has declined but remains positive.
Cash levels remain adequate for near-term operations. At the same time, debt remains elevated, which investors continue to watch closely. Management has emphasized cost controls and indoor cultivation improvements. If margins begin to recover, the stock could respond quickly. Therefore, CNTMF remains a high-risk, high-reward name to watch.
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Glass House Brands (GLASF)
Glass House Brands is a California-focused cannabis company with a strong cultivation identity. Unlike many peers, the company leans heavily into scale production. That strategy targets lower costs and consistent wholesale supply. GLASF trades as a penny stock, but its operational footprint is substantial.
California is the company’s primary market and biggest challenge. Competition is intense, and pricing pressure remains heavy. However, Glass House believes scale is the solution. Large greenhouse cultivation allows the company to compete as a cost leader. In addition, Glass House continues to invest in brand development.
Retail also plays an important role. The company operates around 10 dispensaries across California. Those stores provide direct consumer access and brand visibility. They also offer higher-margin opportunities than wholesale alone. As production ramps up, retail channels help absorb volume.
Heading into January 2026, the key theme is normalization. Management has discussed a return to higher production levels early in the year. If that happens, revenue trends could improve quickly. Therefore, traders often monitor GLASF for operational updates and shifts in guidance.
Financially, recent results reflected a transition period. Revenue declined compared to earlier quarters due to reduced production. Gross margins also compressed as costs rose temporarily. Adjusted EBITDA turned negative during this phase.
Cash levels remain solid relative to peers. However, operating cash flow has been negative. That makes execution critical going forward. If production ramps as planned, operating leverage could improve results quickly. If not, patience will be tested. As a result, GLASF remains a classic restart story with sharp upside and real risk.
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Cresco Labs (CRLBF)
Cresco Labs is one of the most established U.S. cannabis operators trading near penny stock levels. Unlike many small names, Cresco has a national scale. It combines wholesale brand strength with a large retail footprint. That combination often supports more stable revenue.
The company’s retail stores operate under the Sunnyside brand. Cresco runs more than 70 Sunnyside dispensaries nationwide. Florida is a key growth market within that footprint. The company now operates more than 30 dispensaries in the state. This scale gives Cresco strong visibility and customer reach.
Beyond retail, Cresco remains a leading branded wholesaler. Its products maintain shelf space across multiple states. That diversification helps balance weaker pricing environments. As a result, Cresco often holds up better than smaller peers during downturns.
Entering January 2026, Cresco stands out for consistency. While growth has slowed, profitability metrics remain stronger than those of many competitors. The company continues refining its footprint and optimizing operations.
Recent financials reflected that discipline. Revenue remained steady compared to peers. Gross margins stayed near the upper end of the industry range. Adjusted EBITDA remained solid, despite ongoing pricing pressure.
The company also addressed its balance sheet. Debt refinancing extended maturities and improved flexibility. Cash levels remain supportive of operations. Although net losses persist, they were influenced by one-time refinancing costs.
Therefore, CRLBF offers a different penny stock profile. It carries less upside than distressed names, but also less downside. If the sector regains momentum, Cresco could act as a relative leader.
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Final Thoughts
January 2026 could be active for marijuana penny stocks. FLUENT offers turnaround potential. Glass House provides a production-driven rebound setup. Cresco delivers scale and stability at a discounted price. Together, these three names represent different ways to approach risk in the cannabis sector.
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
