Will Next Month Produce Gains For These Marijuana Stocks
The month of June has been difficult to characterize for marijuana stocks. We started the month with a lot of leading cannabis stocks up by high amounts. As the month went on, however, we have seen some steep declines and steep increases throughout the cannabis industry. And with so many pot stocks to watch, keeping track of all the gains and losses in the industry can be a difficult task at times. But, it seems as though the month of July could bring some solid positive sentiment for some of the leading marijuana stocks to watch.
The hopes are that next month will give the cannabis industry a hint more of stability. Although stability can at times be a downside for those who swing trade, it is better for the future of the market. Many believe that marijuana stocks are great as a long term play. For this reason, investors are working to put money into the next 5-10 years of the industry’s growth. With that, there are some companies that could be more solid as long term pot stocks to watch. For that reason, these two marijuana stocks should remain in investors eyes moving forward.
A Leading Pharmaceutical Marijuana Stock
Cara Therapeutics Inc. (CARA Stock Report) is one of the most prominent biotech pot stocks to watch. Since mid-March, CARA stock has shot up by almost 70%. While that may seem like a lot, the majority of marijuana stocks to watch have also shot up by very solid amounts. The company is a clinical-stage biopharmaceutical business that works on producing pharmaceuticals that utilize cannabis compounds. Several of its drugs have shown extreme promise for treating everything from pain to inflammation and more.
Because of its large success rate, many believe that CARA stock is a solid long term play. Although it is quite a volatile marijuana stocks given its place in the industry, it does seem as though CARA stock has a great deal of forward momentum right now. In its most recent first quarter, the company reported as much as 85% in revenue growth. That type of growth is quite unprecedented in the cannabis industry, and definitely should not go ignored. For these reasons, Cara Therapeutics remains a marijuana stock to watch.
A Small-Cap MSO Pot Stock To Watch
Columbia Care Inc. (CCHWF Stock Report) is quite an unknown MSO in the cannabis industry. Despite that, CCHWF stock has shown some solid momentum after its most recent earnings report. The report for its first quarter showed $28 million in revenue which is almost 7 times what the company reported in the previous quarter. One of the main reasons that so many investors believe in CCHWF stock is the markets that the company has a hand in. Columbia Care has dispensaries in several key statewide cannabis markets.
These include Florida, Illinois, Massachusetts and more. In addition to this, the leading pot stock also has a license to sell cannabis in the E.U. CCHWF stock is known to be quite volatile but this is mostly due to its size. And even with Covid impacting cannabis stocks in a big way, the company has been able to show increases in revenue. Columbia Care has stated that it projects revenue for the 2020 year to hit as high as $210 million. Well that may be an overstatement, it definitely is an interesting aspect that investors should look out for.