Cannabis stocks were higher Monday, as investors reacted to the latest tie-ups in the sector and awaited the release of quarterly earnings from Tilray Inc. after the close.

Tilray shares TLRY, -0.36%  were up 0.8%, ahead of the company’s fourth-quarter earnings, which are expected to signal whether or not the company can actually sell pot. The company’s third-quarter numbers came just two weeks after Canada legalized cannabis on Oct. 17, and showed they had not sold any recreational cannabis. Chief Executive Brendan Kennedy has said the fourth quarter would change all that.

The hiring spree at Indiva is reflective of the situation playing out at cannabis companies across the country, says the head of the largest marijuana industry association.

“This is a massively growing industry,” said Allan Rewak of the Cannabis Council of Canada, an umbrella group representing some of the country’s largest marijuana companies.

Canada’s cannabis sector employed 11,000 people in December, according to the most recent statistics available, with some projecting that number could hit 150,000 within the next decade, Rewak said.

In Q3, Canopy Growth Corp  (TSX:WEED)(NYSE:CGC) hit a major milestone by achieving $74 million in net income. Although it was not the company’s first profitable quarter, it was the first time it achieved profits that were high as a percentage of revenue. The quarter was seen as a watershed moment for the company, cementing its status as the king of the cannabis castle.

Canopy’s Q3 earnings showcased a business moving closer and closer to consistent profits. Although the company posted an operating loss in the quarter, the loss was down from the prior quarter, indicating that Canopy is inching toward both net and operating profitability.

Village Farms International (NASDAQ:VFF), a Canada-based greenhouse grower of produce that entered the cannabis space in 2017, reported its fourth-quarter and full-year 2018 results on Wednesday. 

HEXO Corp. (NYSEMKT:HEXO) took investors on a roller-coaster ride in 2018. The marijuana stock more than doubled by October, but gave up most of its gains to end the year up by only 5%. HEXO is off to a great start in 2019, though, with shares soaring 78% so far.

Despite its nice run in 2019, HEXO's market cap is still only a little over $1 billion -- well below the steep market caps of several of its peers. But if you're looking to buy HEXO, there are five things you should know about the marijuana stock first. 

Although there are dozens of marijuana stocks for investors to choose from, none is arguably more polarizing than Aurora Cannabis (NYSE:ACB).

Aurora's growth-at-any-cost strategy has come with promise and peril. Although this is a company with a number of organic construction projects, including the completed 800,000-square-foot Aurora Sky build, and the ongoing buildout of Aurora Sun, a 1.2-million-square-foot complex in Medicine Hat, Alberta, Aurora has chosen to primarily grow via acquisition.

If you had a time machine, there's no question which stock you'd go back in time to buy with a choice between Aphria (NYSE:APHA) and Canopy Growth (NYSE:CGC). Aphria has delivered a lifetime return that would have multiplied your initial investment more than 13 times. But Canopy Growth's share price has soared even more.

I'm going to assume, though, that you don't have a time machine. Choosing between Aphria and Canopy Growth isn't as easy without the benefit of hindsight. Which of these top marijuana stocks is more likely to be the bigger winner in the future? Here's how Aphria and Canopy stack up against each other.

Two of the three biggest Canadian marijuana producers by market cap have already reported their financial results from the quarter ended Dec. 31, 2018. Aurora Cannabis (NYSE:ACB) and Canopy Growth(NYSE:CGC) both delivered impressive revenue growth. But we don't know yet how Tilray(NASDAQ:TLRY), the Canadian marijuana grower with the third-largest market cap, performed in the last quarter. It's currently a mystery -- but not for long. Tilray will announce its fourth-quarter results after the market closes on Monday.

According to Health Canada, licensed businesses sold 7,115 kilograms of dried flower in January. That was 3.7% less than in December, which hardly looks like a Canadian sales explosion that will help Aurora Cannabis (NYSE:ACB) or Cronos Group (NASDAQ:CRON) make ends meet before they need to ask investors for more money.

There are more than a few reasons for the slowdown, some of which many investors have been trying their hardest to ignore. Here's what you need to know.  

Let's face it: Marijuana is a commodity. That makes it challenging for marijuana businesses to differentiate themselves from the competition. But it's not impossible to do so.

Actually, three marijuana stocks appear to be in great shape to stand out from the pack for a long time to come. You could even say that Canopy Growth (NYSE:CGC), Cronos Group (NASDAQ:CRON), and Scotts Miracle-Gro (NYSE:SMG) have a killer advantage. Here's why.