CORAL GABLES, FL / ACCESSWIRE / July 12, 2017 / Marijuana Stocks have typically seen slower months during the summer but this week it looks like many of the stocks that have pulled back during recent weeks are seeing some positive momentum this week. The uncertainty of where the government stands on the issue of legalization has been of a concern to some but as more states legalize different variations of cannabis (be it medical or recreational), the argument against legalization is getting harder to maintain. For those bullish on the topic, this may present growing positive sentiment and on Tuesday, July 11, several beaten down cannabis stocks have begun to climb.
Cara Therapeutics (CARA) has also seen a shift in trading momentum on Tuesday, July 11, 2017. After pulling back from highs of $28.50 just a few weeks ago, shares of the company have rebounded slightly from lows of $11.83. Despite mixed clinical results of its pain drug CR845, the company has announced that it will request a meeting with the U.S. Food and Drug Administration to discuss a way for CR845 to be redeveloped to address chronic pain.
Potnetwork Holdings, Inc. (POTN) was trading just shy of $0.10 in June but since then, shares have pulled back to lows of $0.05 on Monday, July 10. Yesterday morning, Tuesday, July 11, 2017, the company announced that its revenue for the past two months had exceeded revenue figures from the entire first quarter. Maria Gomez, Regional Vice President of Sales for Diamond CBD, Inc. said, "At this point, we are focusing our attention on production since our strengthened efforts have been rewarded with even more consumer enthusiasm. As new consumer orders meet growing recurring order flow, we are strategizing to maintain product availability to meet continually heightening demand."
GW Pharmaceuticals (NASDAQ: GWPH) was up roughly 5% on Tuesday Morning 7/11/17. After hitting lows on Monday, July 10 of $99.01, the market has seen a rebound with GW Pharmaceuticals hitting morning highs of $105.20. In general, the price of GW shares has increased by as much as 13.5% since June 8, 2017. The company's main product pipeline includes therapies to address epilepsy and multiple sclerosis.
Player's Network, Inc. (PNTV) announced the availability of its Green Leaf Farms rosin products at the Pisos Dispensary, a few weeks ago. In the announcement, the company stated that "The State of Nevada -- especially the City of Las Vegas -- is emerging as the next 'Amsterdam,' and is expected to become the largest recreational marijuana market in the world. To ring in this historical occasion, Weed TV will cover, as part of its upcoming 'High Stakes' television series, a special event from Pisos Dispensary."
After seeing its own pullback to lows of $0.134 just a few days ago, yesterday Tuesday 7/11/17 saw shares of Player's Network hit new highs of $0.2085.
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