Are you ready to invest available cash, and on the hunt for some great deals? The bullish hits that growth stocks have taken over the past few months have rattled some investors. But that doesn't mean there aren't any attractive growth picks out there that can make solid additions to your portfolio.

Two stocks that you'll want to consider are Scotts Miracle-Gro (NYSE:SMG) and Alibaba (NYSE:BABA). They operate in vastly different industries and parts of the world. But together, they offer excellent growth prospects and can add some great diversification to your portfolio. 

Investing in the cannabis industry can be a risky proposition: Many companies aren't profitable, the industry isn't federally legal in the U.S., and many investors have lost lots of money on some bad pot stocks. But Scotts Miracle-Gro is different. While it will benefit from the cannabis industry's growth, it doesn't directly deal with the plant, which means it avoids the legal headaches of where it can and can't do business. It's a pick-and-shovel investment that helps individuals and companies grow cannabis (and other crops).

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