As we fast approach May, it seems as though a lot of focus continues to be paid to marijuana stocks. In the past two months, we have witnessed a large amount of bearish sentiment in the cannabis market simply due to the overwhelming issues with coronavirus. The pandemic has caused a lot of issues on the pot stock supply chain as well as on day to day operations. One interesting result of the coronavirus is an actual rise in demand for marijuana.
With so many millions of people at home, it seems as though there are more people using cannabis than before. In addition, many leading companies in the cannabis industry have decided to offer a drive-thru pick up service or curbside pick up. This has helped to keep individual dispensaries up and running in this very difficult time.
But, the pure-play pot stocks have taken too much attention away from the ancillary and secondly marijuana stocks. Those such as MSOs or pharmaceutical cannabis stocks have been quietly turning profits at times when others are not. Because of this, there are some lesser-known marijuana stock options that may be solid pot stocks to watch.
A Leading Pharmaceutical Marijuana Stock to Watch
Cara Therapeutics Inc. (CARA Stock Report) is quite a popular non-pot pot stock working out of the pharmaceutical side of the cannabis market. Although many who want to invest in a pharmaceutical pot stock tend to look at GW Pharmaceuticals Inc. (GWPH Stock Report), Cara has quite a lot to offer on its own. Its most popular substance, Korsuva, was created with the goal of treating chronic itching conditions brought on by kidney disorders.
The drug has been hailed as being a miracle treatment for pruritus, as many other pharmaceuticals do not work nearly as well. Normally, doctors would prescribe pain medicine for this situation, but the side effects and addiction potential remain very high. The drug is currently in its trials, waiting to be approved broadly in the U.S. But, the company is continuing its efforts to get this drug to the public. With cannabis-related pharmaceuticals, the FDA is key. As we wait for them to make a decision, Cara Therapeutics continues to be a solid marijuana stock to watch.
A Leading MSO Marijuana Stock With Not a Lot of Notoriety
iAnthus Capital Holdings Inc. (ITHUF Stock Report) is one of the leading multi-state operator pot stocks. Even though it has not received as much notoriety as others, the company remains one of the most prominent MSOs in the U.S. cannabis market. It currently has operations in as many as 11 states. But, what makes it really interesting is its verticality. The company has access to as much as 817,000 square feet of production space which is quite a lot.
In addition, the company has the potential to open as many as 68 dispensaries with its current licenses. If all that wasn’t enough, the company also has its products in almost 200 licensed facilities around the country. Its recent acquisition of MPX Bioceutical has helped it to grow even further in recent months. Because of its commitment to growth in the U.S., ianthus remains one of the most prominent MSO marijuana stocks to watch.