The Scotts Miracle-Gro Co. (SMG)

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Scotts Miracle-Gro Company (NYSE: SMG) earns its spot as a marijuana stock thanks to the company's Hawthorne Gardening subsidiary, which ranks as the top supplier of hydroponic gardening products to the U.S. cannabis industry.

In Scotts' fiscal 2019 first quarter, this business contributed 47% of the company's total revenue.

SMG notes that each state’s cannabis industry and regulatory system are still in the process of maturing and says that “our experience growing an expansive, thriving business enterprise, and the company’s history of collaborating with government entities and other stakeholders to address difficult regulatory issues can provide invaluable insight and expertise to officials grappling with the challenges inherent in building comprehensive regulation for the cannabis industry. We are committed to working with regulatory bodies at all levels of government to help achieve these goals.”