Top Marijuana Penny Stocks to Watch in November 2025
The cannabis sector continues to garner attention as investors seek growth opportunities in emerging industries. Although the broader market has experienced volatility, many marijuana companies remain focused on expansion, brand development, and operational efficiency. As a result, some lower-priced cannabis stocks have begun to attract renewed interest. These stocks, often referred to as marijuana penny stocks, can provide significant upside potential when market conditions improve. However, they also involve higher levels of risk, so careful assessment is necessary.
In November 2025, several cannabis companies are showing signs of improving financial discipline and strategic progress. Many operators are adjusting to shifting consumer demand, competitive state markets, and evolving regulatory environments. While federal reform still remains uncertain, continued state-level expansion supports gradual industry growth. Additionally, several companies are emphasizing cost control and margin improvement, which may help stabilize long-term performance. Due to these changes, some investors are seeking selective entry opportunities.
Among the most notable marijuana penny stocks to watch this month are Glass House Brands, Ascend Wellness Holdings, and Planet 13 Holdings. Each of these companies represents a different strategic approach within the United States cannabis market. Glass House focuses heavily on large-scale greenhouse cultivation and California retail operations. Ascend Wellness operates across multiple states with both wholesale distribution and branded retail stores. Planet 13 is known for experience-based retail environments and expanding lifestyle-focused consumer offerings. Together, they illustrate how cannabis companies are evolving to compete in a crowded, regulated space.
Investors should remain disciplined and use strong risk management principles when evaluating these stocks. Penny stocks can be highly volatile and sensitive to news events. Therefore, monitoring volume trends, key support levels, and company guidance is essential. With patience and careful planning, opportunities may emerge as the industry continues to mature.
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Best Cannabis Penny Stocks for November 2025 Growth Potential
- Glass House Brands Inc. (OTC: GLASF)
- Ascend Wellness Holdings, Inc. (OTC: AAWH)
- Planet 13 Holdings Inc. (OTC: PLNH)
Glass House Brands Inc. (GLASF)
Glass House Brands is a vertically integrated cannabis company with operations centered in California. The company cultivates cannabis at scale, produces branded products, and operates retail dispensaries across the state. Its business model emphasizes large-scale greenhouse production to reduce cultivation costs. Glass House has grown its retail presence through strategic acquisitions and new store openings in both coastal and inland California markets. The company also maintains a strong wholesale footprint through the distribution of flower, pre-rolls, and packaged goods to dispensaries across the state. Because California remains one of the largest cannabis markets in the world, Glass House is positioned to benefit from long-term consumer demand. However, competition remains intense, and pricing trends in the market can shift rapidly. The company continues to refine its product portfolio and marketing approach to strengthen brand recognition.
Financial performance has shown signs of improvement as the company focuses on cost efficiency. Revenue has grown due to increased production output and stronger wholesale sell-through. Gross margins have risen as greenhouse yields improve and operational waste decreases. The company has also reported progress in reducing cost per pound of cultivated cannabis, which supports better pricing flexibility. Furthermore, operating income trends have moved in a favorable direction as the company scales production. While Glass House is still navigating a highly competitive landscape, the combination of revenue growth and margin expansion suggests a positive strategic trajectory. Continued cost stabilization, retail optimization, and brand development will be key areas to watch.
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Ascend Wellness Holdings, Inc. (AAWH)
Ascend Wellness Holdings is a multi-state cannabis operator with a footprint across several key U.S. markets. The company owns and operates cultivation facilities, processing sites, and branded dispensaries. Its retail stores offer a range of flower, concentrates, and infused products, supported by in-house and partner brands. Ascend’s presence spans several high-demand states, providing geographic diversification. This structure allows the company to balance pricing pressures in competitive markets with emerging opportunities in developing regions. Ascend has expanded through both acquisition and organic store openings, focusing on high-traffic retail locations. Its product lines aim to serve value, mid-range, and premium consumer segments. The company continues to enhance customer experiences through improved store layouts, product education, and service training.
Financial performance has reflected gradual strengthening in several areas. Revenue growth has been supported by both wholesale growth and new retail storefronts. Gross margins have shown improvement due to better supply chain coordination and manufacturing efficiency. Operating income trends have also shown a positive shift as the company implements expense controls. However, Ascend continues to report net losses due to debt servicing costs and general operating expenses. The company’s ability to manage its debt load will remain a key factor in its long-term stability. Despite these challenges, the improving margin profile indicates meaningful operational progress. Investors will want to monitor expansion results and continued cost discipline.
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Planet 13 Holdings Inc. (PLNH)
Planet 13 Holdings is known for its experience-based approach to cannabis retail. The company operates large-scale, entertainment-oriented dispensary destinations, most notably near the Las Vegas Strip. This flagship location blends retail, tourism, branding, and interactive customer experiences. Planet 13 has expanded beyond Nevada into new states, including California and Florida. The company has also introduced smaller boutique-style stores to complement its destination superstore model. Planet 13 focuses on branded consumer products, emphasizing consistency, customer engagement, and product storytelling. Its retail strategy centers on differentiation through atmosphere and visitor experience, which has given it a recognizable identity. The company continues to expand its cultivation and manufacturing capacity to support branded product distribution.
Financial results have shown modest revenue growth, supported by store expansion and increased product offerings. Gross profit margins remain relatively stable but have faced pressure from higher operating expenses. The company has reported ongoing net losses, primarily due to expansion costs and retail staffing expenses. However, Planet 13 has demonstrated progress in reducing certain overhead costs and improving operational efficiency. Expansion into Florida offers long-term growth potential, particularly if adult-use legalization advances. While profitability remains a challenge, Planet 13’s strong brand recognition and differentiated retail model position it well for future demand.
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