It’s been a big week for Cannabis-related stocks, and the Cannabis industry, as Canada decided to formally legalize the recreational use of marijuana. In addition, Cannabis stocks have soared nearly 10% since the summer.
There is indeed a rising tide of interested investors and traders, looking to take advantage of the pot stock boom. Most of the stocks garnering interest are listed in Canada, but there are certainly a few cross-listed on U.S exchanges.
What’s particularly fascinating is that millennials are stepping up to eagerly participate in the market. Whether the interest is for medicinal or recreational purposes, the estimated market is about 50 million people.
Further to this interest, there’s a growing interest in the sector from larger corporations including major biotech players.
While the interest is there, the regulatory environment and legal liabilities appear to be the biggest threat to these stocks and the sector at large. Regardless of these concerns, the market is ripe for opportunities for eager investors and traders that are looking to take advantage of trading marijuana stocks.
Here are a few Cannabis stocks that we find interesting:
ABBVIE Inc. (NYSE: ABBV)
AbbVie is a global, research-driven biopharmaceutical company committed to developing innovative advanced therapies for some of the world’s most complex and critical conditions. With a new synthetic cannabis drug, used to treat nausea for those in chemotherapy, the drug Marinol, has already been approved by the Food and Drug Administration. This is one to watch.
ARENA Pharmaceuticals, INC. (NASDAQ: ARNA)
Arena is a biotech company involved in manufacturing medicinal cannabis drugs. The company has a major focus on research and development for cannabis biotech initiatives.
Atlantic Alliance Partnership Corp. (NASDAQ: AAPC)
Mergers and acquisitions are the name of the game in the biotech world – and this stock is right in the middle of one with a REIT focused on regulated cannabis industry.
CARA Therapeutics Inc. (NASDAQ: CARA)
Another biotech company focused on commercializing new solutions for fighting painful itching, is in the hunt working on a preclinical research on the use of cannabis to treat neuropathic pain.
INSYS Therapeutics is a specialty pharmaceutical company with a focus on providing therapeutic solutions helping to improve the lives of patients. This is a great stock to trade, and very optionable.
Some other stocks on our potential watch list are:
- Corbus Pharmaceuticals Holdings Inc. (NASDAQ: CRBP)
- Cronos Group Inc. (NASDAQ: CRON)
- GW Pharmaceuticals PLC (NASDAQ: GWPH)
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