Top Marijuana Stocks to Watch in February 2026
The U.S. cannabis sector continues adjusting as February 2026 approaches. While volatility remains, investor interest has not disappeared. Instead, attention has shifted toward sustainability and execution. Many cannabis operators now prioritize efficiency over rapid expansion. Higher interest rates forced companies to reassess spending habits. As a result, balance sheet strength has become increasingly important. Revenue quality now matters more than headline growth figures. Companies generating consistent sales stand out more clearly.
State-level legalization continues expanding across the country. Several markets have matured into stable revenue generators. This provides operators with predictable consumer demand. Medical and adult-use programs remain key growth drivers. Federal reform discussions also linger in the background. Rescheduling remains a potential catalyst for the sector. However, timing remains uncertain and politically dependent. That uncertainty continues to limit institutional participation.
Retail investors, therefore, remain critical to cannabis trading volume. February often marks renewed interest after year-end repositioning. Tax-loss selling pressure usually fades by this point. Consequently, fundamentally sound stocks can attract attention. Dispensary count remains a key evaluation metric. Geographic exposure also plays an important role. Operators with diversified footprints reduce market-specific risk. Brand recognition further supports customer loyalty.
At the same time, financial discipline determines long-term survival. Companies with real revenue streams gain investor credibility. Those relying on speculation face increasing pressure. This article highlights three marijuana stocks worth monitoring closely. Each company follows a distinct operating strategy. Together, they offer insight into the broader cannabis landscape. Understanding these differences helps frame risk and opportunity.
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Three Cannabis Stocks Investors Are Watching Closely in February 2026
- Planet 13 Holdings Inc. (OTC: PLNH)
- FLUENT Corp. (OTC: CNTMF)
- Verano Holdings Corp. (OTC: VRNOF)
Planet 13 Holdings Inc. (PLNH)
Planet 13 Holdings operates as a vertically integrated cannabis retailer. The company is best known for its massive Las Vegas dispensary. That flagship location sits just off the Las Vegas Strip. It attracts both tourists and local consumers daily. Planet 13 emphasizes experiential cannabis retail. Its stores blend entertainment, branding, and product selection. This approach differentiates it from traditional dispensaries. Customer experience remains a central focus.
Beyond Nevada, Planet 13 operates dispensaries in California. The company also maintains a growing presence in Florida. Additionally, it has expanded into Illinois. Altogether, Planet 13 operates more than ten dispensaries nationwide. The company also produces its own cannabis products. These include flower, edibles, concentrates, and vape offerings. Brand development remains a core strategic pillar. Planet 13 targets premium and lifestyle-oriented consumers.
This branding strategy supports strong name recognition. As a result, Planet 13 remains one of the most visible cannabis retailers. From a financial standpoint, Planet 13 continues navigating challenges. Revenue has fluctuated due to pricing pressure and competition. However, the company continues to generate meaningful quarterly sales.
Operating expenses remain elevated due to retail operations. Management has focused on reducing controllable costs. These efforts aim to improve operating margins over time. Capital expenditures have been reduced in recent periods. Cash preservation has become a primary objective. Same-store sales trends remain closely monitored.
The company continues optimizing its product mix. In-house brands help support higher margins. Losses remain, but they have narrowed sequentially. Liquidity appears sufficient for near-term operations. Future performance depends on retail traffic trends. Overall, Planet 13 remains a high-profile cannabis retail play.
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FLUENT Corp. (CNTMF)
FLUENT Corp. operates as a regional cannabis company. The business focuses on vertically integrated operations. Its largest footprint remains in Florida. Florida is one of the largest medical cannabis markets. FLUENT operates multiple dispensaries across the state. It also owns cultivation and manufacturing facilities.
Beyond Florida, the company operates in New York. Additional interests exist in other regulated markets. In total, FLUENT operates more than thirty dispensaries nationwide. The company emphasizes controlled and selective expansion. Management targets markets with favorable regulatory environments. Brand consistency remains a key priority.
FLUENT offers a curated selection of cannabis products. These include flower, edibles, and vape offerings. The company positions itself as a premium retail brand. Customer retention remains an important objective. FLUENT continues to cautiously open new locations. This approach limits unnecessary capital strain.
Financially, FLUENT generates over $100 million in annual revenue. Revenue growth has been modest in recent quarters. Pricing pressure continues to affect margins. However, operating expenses remain relatively controlled. Management focuses heavily on improving operational efficiency. Cash flow stability remains a primary objective.
Debt levels are moderate compared to larger peers. The company has taken steps to improve liquidity. Adjusted EBITDA remains closely watched by investors. New dispensary openings could support future revenue. Product innovation may also enhance margins. However, profitability remains sensitive to market conditions. Overall, FLUENT represents a regional growth opportunity in the cannabis market.
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Verano Holdings Corp. (VRNOF)
Verano Holdings is one of the largest cannabis operators in the United States. The company operates across numerous legalized states. Its dispensary brands include Zen Leaf and MÜV. Verano has a strong presence in Illinois. Florida also represents a major operating region. Additional markets include Arizona and Connecticut.
In total, Verano operates more than 150 dispensaries nationwide. The company also owns several cultivation facilities. Vertical integration supports supply chain control. Verano sells products through both retail and wholesale channels. Its brand portfolio spans multiple consumer categories. These include flower, edibles, and concentrates.
Because of its scale, Verano remains an industry leader. Many investors view it as a benchmark operator. From a financial perspective, Verano generates substantial revenue. Annual revenue totals several hundred million dollars. However, the company continues reporting net losses. Pricing pressure has weighed on margins. Operating costs remain elevated due to scale. Despite this, Verano produces positive adjusted EBITDA.
Management remains focused on cost optimization. Efficiency initiatives continue across operations. The company has refinanced debt to improve flexibility. Liquidity remains adequate for ongoing operations. Selective retail expansion continues in key markets. Wholesale channels provide additional revenue streams. Future profitability depends on margin recovery. Federal reform could materially impact results. Overall, Verano offers scale with ongoing financial risk.
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