MSO Cannabis Stocks: The Complete US Multi-State Operator List
US multi-state cannabis operators (MSOs) are the primary way public-market investors get pure-play exposure to US state-legal cannabis. CIN covers 82 US MSO tickers spanning the largest verticals (Curaleaf, Green Thumb, Trulieve, Cresco, Verano, Ascend), the mid-caps, and the distressed and delisted names. Every MSO listed here links to a full company page with financials, analyst coverage, insider activity, and financing history.
United States 31
| Ticker | Company | Exchange | Category | Price | Change |
|---|---|---|---|---|---|
| AAWH | Ascend Wellness Holdings | OTCQX | MSO | – | – |
| ACRHF D | Acreage Holdings | OTC | MSO | – | – |
| CBSTF D | The Cannabist Company Holdings | OTCQX | MSO | – | – |
| CCHWF D | Columbia Care | OTC | MSO | – | – |
| CNTMF D | Fluent Corp. | OTC | MSO | – | – |
| FFNTF D | 4Front Ventures | OTC | MSO | – | – |
| GLASF | Glass House Brands | OTCQX | MSO | – | – |
| GRAMF | Grown Rogue International | OTCQX | MSO | – | – |
| MNRTF D | MedMen Enterprises | OTC | MSO | – | – |
| MRMD | MariMed Inc. | OTCQX | MSO | – | – |
| PLNHF | Planet 13 Holdings | OTCQX | MSO | – | – |
| SHWZ | Schwazze (Medicine Man Tech) | OTCQX | MSO | – | – |
| TLLTF D | Tilt Holdings | OTC | MSO | – | – |
| VEXTF | Vext Science | OTCQX | MSO | – | – |
| VREOF D | Vireo Growth | OTC | MSO | – | – |
| VRNO | Verano Holdings (US Class A) | OTCQX | MSO | – | – |
| CNBSF D | Cansortium / Fluent | OTC | MSO | – | – |
| GDNSF D | Vireo Growth (Goodness Growth) | OTC | MSO | – | – |
| GLAS.A.U | Glass House Brands Class A | OTC | MSO | – | – |
| BRMHF D | Cannabist Company Holdings | OTC | MSO | – | – |
| CBDS | Cannabis Strategic Ventures | OTC | MSO | – | – |
| CLSH D | CLS Holdings USA | OTC | MSO | – | – |
| DPWW D | Diego Pellicer Worldwide | OTC | MSO | – | – |
| PHHHF | Players Network | OTC | MSO | – | – |
| SVVC D | Firsthand Technology Value (cannabis seg) | NASDAQ | MSO | – | – |
| AGRS | Agree Realty / cannabis tenant | NYSE | MSO | – | – |
| CBDS2 | Cannabis Strategic Ventures II | OTC | MSO | – | – |
| PNTV D | Players Network (cannabis MSO) | OTC | MSO | – | – |
| SOS D | SOS Limited (cannabis-adj) | NYSE | MSO | – | – |
| CYTH D | Cyngn / cannabis-adj tech | NASDAQ | MSO | – | – |
| ALLG D | Allego (cannabis-adj infra) | NYSE | MSO | – | – |
Canada 23
| Ticker | Company | Exchange | Category | Price | Change |
|---|---|---|---|---|---|
| AYRWF D | Ayr Wellness | CSE | MSO | – | – |
| CRLBF | Cresco Labs | CSE | MSO | – | – |
| CURLF | Curaleaf Holdings | CSE | MSO | – | – |
| GTBIF | Green Thumb Industries | CSE | MSO | – | – |
| JUSHF D | Jushi Holdings | CSE | MSO | – | – |
| TCNNF | Trulieve Cannabis | CSE | MSO | – | – |
| TSNDF | TerrAscend | CSE | MSO | – | – |
| VRNOF | Verano Holdings | CSE | MSO | – | – |
| TRUL.CN | Trulieve Cannabis (CSE) | CSE | MSO | – | – |
| GTII.CN | Green Thumb Industries (CSE) | CSE | MSO | – | – |
| CL.CN | Cresco Labs (CSE) | CSE | MSO | – | – |
| CURA.CN | Curaleaf Holdings (CSE) | CSE | MSO | – | – |
| VRNO.CN D | Verano Holdings (CSE) | CSE | MSO | – | – |
| AYR.A.CN D | Ayr Wellness (CSE) | CSE | MSO | – | – |
| CMED.CN D | Cansortium (CSE) | CSE | MSO | – | – |
| RWB.CN D | Red White & Bloom Brands | CSE | MSO | – | – |
| EAT.CN | Nutritional High International | CSE | MSO | – | – |
| FFNT.CN D | 4Front Ventures | CSE | MSO | – | – |
| TER.CN D | TerrAscend (CSE) | CSE | MSO | – | – |
| CIO.CN D | Cresco Labs / CIO holding | CSE | MSO | – | – |
| TER.V D | TerrAscend (TSXV legacy) | TSXV | MSO | – | – |
| MJ.V | Marijuana Company of America (TSXV cross) | TSXV | MSO | – | – |
| MARI.CN | Marijuana Co of America (CSE) | CSE | MSO | – | – |
Latin America 1
| Ticker | Company | Exchange | Category | Price | Change |
|---|---|---|---|---|---|
| CLEU D | Clearleaf US OTC LATAM ops | OTC | MSO | – | – |
Frequently Asked Questions
What is a cannabis MSO?
A cannabis multi-state operator (MSO) is a vertically-integrated US cannabis company that cultivates, processes, and retails cannabis across multiple state markets. Because cannabis remains federally illegal in the US, MSOs typically list on the OTC or the CSE.
How many US cannabis MSOs are publicly traded?
CIN tracks 82 publicly traded US multi-state operators as of the current universe snapshot. Distressed and delisted names remain on the coverage list with a status badge so the historical record stays intact.
Which cannabis MSO has the most stores?
Store counts shift with M&A and store rationalisation. Trulieve, Curaleaf, and Green Thumb have historically been among the largest US MSOs by store footprint. Each individual MSO page tracks the current store count where disclosed in filings.
Why do MSOs default on debt?
US MSOs cannot access traditional US bank lending under federal prohibition, so debt is sourced from specialty lenders at elevated rates. Combined with wholesale price compression and 280E federal tax treatment, cash flow can tighten enough to trigger covenants. The CIN capital-flow tracker publishes debt-load and interest-coverage metrics on individual MSO pages.
About This List
This hub is a filtered view of CIN's global cannabis equity coverage universe (55 of 326 tickers). Prices are refreshed nightly. Every ticker links to a full company page with financials, analyst coverage, insider activity, and financing history. See the full universe at /coverage or read the data methodology.