U.S. Cannabis Expansion Sparks Interest in Ancillary Stocks to Watch Now
The U.S. cannabis industry continues to expand rapidly, making ancillary stocks an attractive area for investors. In 2024, legal cannabis sales reached more than $29 billion nationwide. Analysts project the market could surpass $45 billion by 2030 as legalization spreads. Ancillary companies supply the technology, data, and cultivation tools that dispensaries and growers need to operate efficiently. These businesses avoid direct plant-touching risks while benefiting from industry growth. Recently, headlines surrounding potential federal legalization and banking reform have reignited investor interest. Moreover, new state markets continue to open, driving opportunities for service providers. Therefore, ancillary stocks remain critical watchlist candidates.
When trading these stocks, investors should balance opportunity with caution. Technical analysis helps identify support and resistance levels for better timing. Additionally, volume trends often reveal institutional participation and momentum shifts. However, strong discipline is necessary in such a volatile sector. Risk management, including position sizing and stop losses, protects capital. Furthermore, diversification reduces exposure to sudden policy changes. Traders should also monitor news headlines, since regulatory updates can trigger sharp market moves. By combining technical insights with prudent risk control, investors can approach ancillary cannabis stocks strategically.
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Top Ancillary Cannabis Stocks to Watch in September 2025: LFLY, MAPS, GRWG
- Leafly Holdings (NASDAQ: LFLY)
- WM Technology / Weedmaps (NASDAQ: MAPS)
- GrowGeneration (NASDAQ: GRWG)
Leafly Holdings (LFLY)
Leafly is one of the largest cannabis marketplaces in the United States. The platform helps connect consumers to legal cannabis products and dispensaries. It serves as a discovery hub for strains, reviews, and local availability. Unlike operators, Leafly does not own dispensaries. Instead, it enables over 4,600 retailers to publish live menus and product listings. This creates a powerful network that brings consumers closer to licensed businesses. Furthermore, Leafly attracts over 125 million visitors annually, making it one of the most influential digital players in cannabis. Its reach ensures that dispensaries gain exposure and that customers have access to accurate product information. As legalization expands, Leafly remains positioned to benefit from increasing traffic and adoption.
Financially, Leafly has been focused on efficiency and profitability. Recent quarterly revenue was about $7.9 million, slightly lower year over year. However, the company narrowed its net loss significantly, showing improved discipline. Its trailing twelve-month revenue is near $33.5 million, a strong figure considering industry volatility. Importantly, management has emphasized cost control and sustainable growth. Leafly’s cash conservation measures provide flexibility during a challenging cannabis capital environment. Investors should watch trends in average revenue per retail account, as they signal platform monetization strength. Additionally, expansion into new state markets could drive upside. With its established marketplace, Leafly remains a vital ancillary player poised to benefit from future reforms.
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WM Technology / Weedmaps (MAPS)
WM Technology operates Weedmaps, a leading U.S. marketplace and software platform for cannabis businesses. Its presence is strongest in the United States, where it lists dispensaries, brands, and delivery services. Weedmaps is not a plant-touching company. Instead, it provides retailers with software solutions, advertising, and marketplace exposure. Consumers benefit by finding nearby dispensaries and product deals. Weedmaps supports thousands of businesses across the country. As of 2025, more than 5,200 paying clients rely on the platform for visibility and digital tools. This broad reach highlights its importance to both established and emerging state markets. Consequently, Weedmaps remains an essential ancillary service in the growing cannabis sector.
Weedmaps recently reported mixed but encouraging results. Quarterly revenue came in at $44.8 million, a slight decline compared to last year. However, profitability trends improved meaningfully. Adjusted EBITDA increased to $11.7 million, reflecting cost discipline and operating efficiency. Net income was approximately $2.2 million, marking positive earnings growth. The company’s cash position strengthened to nearly $59 million, providing strategic flexibility. Average monthly revenue per client fell modestly, signaling competitive pressure in mature markets. Still, client growth in expansion states offset that decline. Weedmaps’ ability to upsell software and marketing services will be crucial going forward. If federal or state-level reforms accelerate, Weedmaps could see stronger monetization and marketplace demand.
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GrowGeneration (GRWG)
GrowGeneration operates outside the dispensary model, focusing on cultivation support. Its largest presence is in the United States, where it runs hydroponic and gardening superstores. These stores provide equipment and supplies for both commercial and home growers. The company also offers a wholesale business and online B2B platform. Importantly, GrowGeneration owns no dispensaries. Instead, it sells to the businesses that cultivate cannabis. As of mid-2025, GrowGeneration operated 29 retail locations across 11 states. Proprietary brands such as Drip Hydro and Char Coir strengthen their competitive edge. By providing essential supplies, GrowGeneration functions as an indispensable ancillary backbone for the entire industry.
Recent financial results highlight progress in streamlining operations. Second-quarter net sales reached $41 million, a 14.7% increase from the previous quarter. Gross margins improved to 28.3%, supported by growth in proprietary brands. Store operating expenses dropped nearly 23% year over year, reflecting efficiency measures. Net loss narrowed to $4.8 million, showing meaningful progress toward profitability. Adjusted EBITDA losses held steady but showed stability compared to prior periods. Importantly, the company holds $48.7 million in cash and has no debt, giving it financial flexibility. Proprietary brands now account for 32% of cultivation revenue, with targets to expand further. As GrowGeneration optimizes stores and grows its private-label lines, margins should continue to expand. This positions the company well for long-term sector recovery and growth.
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Ancillary Cannabis Stocks Worth Watching This Week
Ancillary cannabis stocks like Leafly, Weedmaps, and GrowGeneration remain critical to the U.S. cannabis ecosystem. They provide technology, platforms, and cultivation supplies rather than direct cannabis sales. Each company shows unique growth opportunities despite ongoing industry challenges. With efficiency improvements and expanding markets, these stocks are worth watching in September 2025.
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
