So far, marijuana stocks have fared pretty well overall this year. In the first quarter, the biggest winners included relatively smaller Canadian marijuana producers. But which marijuana stocks look like good picks to buy in Q2?

There are plenty of strong candidates. However, two marijuana stocks that I think look attractive right now are CannTrust Holdings (NYSE:CTST) and Innovative Industrial Properties (NYSE:IIPR). Here's what makes these two stocks stand out in my view.

The marijuana industry is currently on an unstoppable upward trajectory. Global marijuana production and sales are set to reach incredible new heights by 2022. While the industry isn’t without its risks, now is the perfect time to take advantage of the opportunity.

Though about half a dozen pot companies garner most of the attention from investors and analysts, a few small-cap firms are worth a mention. Let’s look at two marijuana firms that you should keep an eye on.

Can the Canadian marijuana stocks with market caps measured in the billions of dollars keep moving higher? Absolutely. It doesn't matter that they have astronomical valuations using traditional metrics. The global cannabis market is growing so rapidly that valuation measurements based on historical sales and earnings should be tossed out the window.

Some big Canadian marijuana stocks should be able to jump much higher and potentially do so more quickly than others, though. Which big Canadian marijuana stock has the most upside potential right now? I think it's none other than Aphria (NYSE:APHA).

The marijuana industry is absolutely blossoming before our eyes. This year alone, according to a research report released earlier this year by Arcview Market Research and BDS Analytics, global sales should soar by 38% to $16.9 billion. This roughly $4.7 billion year-over-year improvement is the result of sales picking up in the now recreationally legal Canada, supply chain issues resolving in California (the largest legal market in the world), and ongoing legalizations in both the U.S. and overseas markets.

You're probably not surprised a bit that Canadian marijuana stocks are hot again. Most of the stocks stank in the fourth quarter of 2018. It's been a much better story this year, though. At least a dozen Canadian marijuana stocks are up more than 50% year to date. Three stocks, however, have sailed past the rest of the pack.

Shares of Village Farms International(NASDAQ:VFF), Organigram Holdings (NASDAQOTH:OGRMF), and HEXO (NYSEMKT:HEXO) have skyrocketed 92% or more so far in 2019.

Following the opening of Canada's recreational adult-use marijuana market last October, top marijuana stocks could capture billions of dollars in sales as consumers shift their spending from the black market to licensed marijuana retailers. The potential to profit from pot is sparking a green rush of investment that has some marijuana growers already benefiting more than others. 

Warren, Gardner introduce STATES Act to U.S. Senate

Queens County in Nova Scotia is embracing a new type of crop cultivation.

For decades, the forestry sector was the biggest employer in the area. But in 2012, the Bowater Mersey pulp mill was shut down and hundreds of people were suddenly out of a job.

Seven years later, there's a cannabis production facility on the former mill site and 50 people are working there.

Owner Aqualitas set up its operation in one of the old Bowater warehouses.

It's an investment that hasn't come cheaply.

The large warehouse is one of the newer buildings on the site, but it still cost $20 million to get it ready for cannabis production, says Aqualitas CEO MyrnaGillis.

Cannabis stocks tripped on Thursday after significant gains on Wednesday. While the majority of cannabis players have had a bumping 2019 when it comes to stock prices, concerns remain about what lies ahead. 

The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, dropped 1% to 305.61. The Horizons Marijuana Life Sciences Index ETF was down 0.7% at C$21.57. 

Marijuana stocks have been practically unstoppable since the year began. Through the first three months of the year, the Horizons Marijuana Life Sciences ETF, which holds around four dozen pot stocks of various weightings, had galloped higher by more than 50%.

However, March wasn't a particularly strong month for pot stocks. In fact, the aforementioned ETF, the first cannabis ETF to trade in Canada, wound up losing just over 2% (inclusive of a dividend distribution) in March.

Although last month saw most pot stocks tread water, a few -- six, to be exact -- ventured into the deep end of the pool and sunk like a stone. Listed from the bottom up, here are the worst-performing pot stocks of March.