3 Top Marijuana Stocks to Watch in October 2026
The American cannabis industry continues to evolve as investors evaluate changing federal policies, expanding markets, and improving business opportunities. After years of regulatory uncertainty, marijuana companies are entering another potentially transformative period. Meanwhile, investors are watching developments in Washington that could influence the industry’s financial outlook and long-term growth.
Federal marijuana rescheduling remains one of the most significant developments affecting cannabis stocks in 2026. Moving cannabis from Schedule I to Schedule III could substantially change how the federal government regulates the industry. Furthermore, the change could eventually eliminate certain federal tax restrictions that have weighed heavily on marijuana businesses.
Currently, Section 280E prevents many cannabis operators from deducting ordinary business expenses when calculating federal taxable income. As a result, companies often face significantly higher effective tax rates than businesses in other industries. Removing these restrictions could improve profitability, increase available cash, and support future expansion.
However, rescheduling alone would not federally legalize recreational marijuana or eliminate every regulatory challenge. Cannabis companies would still face complicated banking restrictions, state regulations, and intense competition. Additionally, declining wholesale prices continue to create financial pressure for operators in several established markets.
Despite these challenges, the American cannabis industry continues offering opportunities for companies with strong market positions. Florida, Illinois, Pennsylvania, New Jersey, and California remain important markets for established marijuana operators. Meanwhile, expanding recreational programs and growing medical marijuana participation could create additional opportunities for revenue growth.
Investors increasingly favor companies that demonstrate financial discipline, positive operating cash flow, and sustainable business strategies. Rather than concentrating exclusively on dispensary expansion, many operators are prioritizing profitability and cost management. This shift could help distinguish financially stable businesses from competitors struggling with debt and operating expenses.
As October begins, three cannabis companies stand out for their market presence, financial performance, and growth potential. Green Thumb Industries, Glass House Brands, and Verano Holdings each take a different approach to competing in America’s marijuana industry.
[Read More] Cannabis Stocks in 2027: New Markets, Reform, and Investment Risks
Top 3 Cannabis Stocks to Watch in October 2026 as Federal Policy Shifts
- Green Thumb Industries (OTCQX: GTBIF)
- Glass House Brands (NYSE: GLAS)
- Verano Holdings (OTCQX: VRNO)
Green Thumb Industries (OTCQX: GTBIF)
Green Thumb Industries is one of America’s leading cannabis companies, with an established presence across several major markets. Founded in 2014 and headquartered in Chicago, the company operates a vertically integrated business focused on cultivation, manufacturing, and retail. Its popular cannabis brands include RYTHM, Dogwalkers, Incredibles, Good Green, and &Shine. Additionally, Green Thumb operates its nationwide retail network under the RISE Dispensaries brand.
As of June 2026, the company operated 123 dispensaries across 14 states, giving it considerable exposure to established cannabis markets. Illinois remains an important market for Green Thumb, while Florida represents another significant opportunity for continued retail expansion. The company also maintains operations in Pennsylvania, Ohio, New Jersey, and several other states.
Furthermore, Green Thumb benefits from selling its branded products through both company-owned dispensaries and independent retailers. This strategy creates multiple revenue opportunities while strengthening customer relationships. Its diversified geographic footprint also reduces dependence on any single state’s cannabis market.
Latest Financial Performance
Green Thumb reported second-quarter 2026 revenue of $306.7 million, up about 4.6% from the previous year. Revenue benefited from Minnesota’s recreational cannabis market and continued growth across Florida, Connecticut, and Ohio. However, increased competition and declining cannabis prices continued pressuring profitability across several markets.
Gross profit reached $137.9 million, down from $146.3 million in the corresponding quarter in 2025. Consequently, gross margins fell from about 49.9% to 45%, reflecting higher costs and pricing pressure.
Nevertheless, Green Thumb reported quarterly net income of $4.9 million, improving from a $600,000 loss one year earlier. Earnings per share reached $0.02, highlighting progress despite ongoing industry challenges.
The company also reported EBITDA of $53.1 million, down from $69.1 million in the previous year’s quarter. Looking ahead, investors should monitor operating margins, retail sales, and the company’s ability to manage expenses.
Additionally, changes to federal cannabis taxes could create opportunities to strengthen profitability. Green Thumb remains an important marijuana stock to watch throughout October 2026.
[Read More] Marijuana Stocks And The Cannabis Industry: What Investors Should Watch
Glass House Brands (NYSE: GLAS)
Glass House Brands is a California-based cannabis producer known for large-scale cultivation and an expanding wholesale business. Founded in 2015, the company has developed extensive greenhouse facilities designed to produce cannabis efficiently and at competitive prices. Its leading brands include Glass House Farms, Allswell, and PLUS, serving different segments of California’s cannabis market.
California represents the company’s largest American market, where its cultivation facilities support a substantial wholesale distribution network. Previously, Glass House operated 10 dispensaries across California, including locations in Santa Barbara, Berkeley, Santa Ana, and Los Angeles. However, the company separated these retail operations into an independently controlled business in June 2026.
Glass House retains approximately 90% of the former retail business’s economic interest but no longer directly controls those dispensaries. Furthermore, its business strategy increasingly emphasizes large-scale cultivation, wholesale distribution, and lower production costs.
The company also completed its New York Stock Exchange listing in June 2026. Consequently, investors now follow its shares under GLAS rather than the former GLASF ticker.
Latest Financial Performance
Glass House Brands reported second-quarter 2026 revenue of $47 million, compared with $47.6 million in the prior-year quarter. However, revenue rose considerably from $28.6 million in the first quarter of 2026.
Wholesale cannabis biomass generated $41.7 million, accounting for approximately 89% of quarterly revenue. Meanwhile, packaged cannabis products contributed another $5.3 million.
Gross profit reached $15.8 million, representing a 34% margin. This compared with a 55% gross margin during the corresponding quarter in 2025. Nevertheless, profitability improved significantly compared with the first quarter’s 14% margin.
Adjusted EBITDA reached $5.7 million, reversing the previous quarter’s $4.2 million loss. Operating cash flow also improved to approximately $200,000.
Cannabis biomass production reached approximately 246,000 pounds, establishing a quarterly production record. Production costs declined to $122 per pound from $175 during the previous quarter.
Furthermore, management reaffirmed its full-year production forecast of approximately one million pounds. Investors should monitor wholesale pricing, production efficiency, and future profitability.
Glass House remains an interesting October marijuana stock because its cultivation strategy offers considerable operating leverage.
[Read More] Cannabis Stocks Enter A New Moment Of Financial Discipline
Verano Holdings (OTCQX: VRNO)
Verano Holdings is a major American cannabis operator with an established retail network and extensive cultivation operations. Headquartered in Chicago, the company serves medical and recreational cannabis consumers across several important American markets.
Its retail operations include the popular MÜV and Zen Leaf dispensary brands. Additionally, Verano produces cannabis products under brands including Savvy, Encore, BITS, and Avexia.
Florida represents Verano’s largest dispensary market, making the state especially important to its overall retail strategy. As of its August 2026 operational update, Verano operated 163 dispensaries nationwide, including 86 Florida locations.
The company operates in 13 states, supported by 14 production facilities and extensive cultivation capacity. Furthermore, Verano maintains a meaningful presence in Illinois, New Jersey, Pennsylvania, and other established cannabis markets.
Its vertically integrated structure allows Verano to manage cultivation, manufacturing, distribution, and retail sales. As a result, the company can maintain greater control over product quality, inventory, and operating expenses.
Latest Financial Performance
Verano reported second-quarter 2026 revenue of about $218 million, an 8% increase from the previous year. Revenue also rose about 5% from the first quarter, marking the third consecutive quarter of growth.
Gross profit reached approximately $100 million, representing 46% of total revenue. Meanwhile, selling, general, and administrative expenses totaled about $92 million, or 42% of revenue.
Despite improving sales, Verano reported a quarterly net loss of approximately $13.4 million. However, this improved from the $19.2 million loss reported in the prior year’s corresponding quarter.
Adjusted EBITDA reached $51.2 million, representing approximately 24% of quarterly revenue. Additionally, the company generated $31 million in operating cash flow while spending approximately $12 million on capital expenditures.
Verano also announced a $20 million share repurchase authorization, demonstrating management’s focus on shareholder value. Furthermore, the company completed a reverse stock split supporting its potential future listing on a major American exchange.
Looking ahead, investors should monitor Florida expansion, operating expenses, and continued revenue growth. Verano’s substantial retail presence makes it another marijuana stock worth watching during October 2026.
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
