Here Are 3 Marijuana Stocks To Watch In The Stock Market 2026
A major catalyst reshaping marijuana stocks has been the U.S. government’s move toward rescheduling cannabis. The shift from a Schedule I to a proposed Schedule III classification represents a significant turning point for the cannabis industry. As a result, marijuana stocks have reacted strongly to policy developments, with trading volumes and volatility increasing around regulatory news. The future outlook for cannabis stocks remains tied to three key drivers: federal reform, state-level legalization, and industry consolidation.
As smaller operators struggle, stronger companies are expected to gain market share through mergers and acquisitions. Cannabis investing is entering a more mature phase. While volatility will likely persist, the long-term outlook for the sector is the focus. Preparation will be key to keeping up with trends and trading patterns in an unpredictable sector. Especially with the continued fight to establish better reform and industry regulations.
Now, the upside to this volatility is the up and down trading that occurs. Versus how the cannabis stocks have been trading, which is not so much unless the right news or catalysts are known. Even still, 2026 is showing to be a strong year for legal operators with all the ongoing changes. The better the changes, the better the odds of marijuana stock investors making money in the market. Below are several marijuana stocks to watch in today’s market.
Marijuana Stocks To Watch Now
- GrowGeneration Corp. (OTC:GRWG)
- Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM)
- The Scotts Miracle-Gro Company (NYSE:SMG)
GrowGeneration Corp.
GrowGeneration Corp., through its subsidiaries, operates as a developer, marketer, retailer, and distributor of products for both indoor and outdoor hydroponic and organic gardening in the United States. 
In recent news, the company announced it will release its financial results for the first quarter ended March 31, 2026, on Tuesday, May 12, 2026, after market close. The announcement will be followed by a live earnings conference call at 4:30 p.m. ET.
Hydrofarm Holdings Group, Inc.
Hydrofarm Holdings Group, Inc., together with its subsidiaries, manufactures and distributes hydroponics equipment and supplies for controlled environment agriculture (CEA) in the United States and Canada. 
At the end of March 2026, the company announced financial results for its fourth quarter and fiscal year ended December 31, 2025.
Fourth Quarter vs. Prior Year Period:
- Net sales decreased to $25.1 million compared to $37.3 million.
- Gross Profit Margin increased to 8.5% of net sales compared to 4.9%.
- Adjusted Gross Profit Margin(1) increased to 15.4% of net sales compared to 9.6%.
- SG&A expense and Adjusted SG&A(1) expense decreased by 43.5% and 18.9%, respectively.
- Adjusted EBITDA(1) of $(4.9) million compared to $(7.3) million.
- Cash used in operating activities and Free Cash Flow(1) were $(4.0) million and $(4.3) million, respectively.
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The Scotts Miracle-Gro Company
The Scotts Miracle-Gro Company, together with its subsidiaries, engages in the manufacture, marketing, and sale of products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. 
Back on April 29th, the company reported strong earnings. So SMG reported results for the second quarter ended March 28, 2026.
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Fiscal 2026 Second Quarter Highlights
- Net sales were $1.46 billion, an increase of 5% versus prior year
- GAAP and non-GAAP adjusted gross margin rate of 41.8% improved by 280 and 240 basis points over prior year, respectively.
- GAAP net income from continuing operations of $4.46 per share and non-GAAP adjusted net income from continuing operations of $4.53 per share improved by
- 18 percent and 13 percent over prior year, respectively.
- Non-GAAP adjusted EBITDA of $437.4 million improved by 9 percent over prior year.
- Net leverage of 3.71x improved 0.70x versus last year.
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