The marijuana industry is becoming a talk of the town because of its growing dominance in both medical and recreational industries. Today, marijuana stocks belong to smaller companies investing in the production, research, and development of cannabis-based products. However, most companies are still lagging behind in profitability. If you have a long-term growth prospect in mind for a growing industry, check out our list of the top 7 marijuana stocks to invest in August.
1. Cara Therapeutics (CARA)
Cara Therapeutics closed its follow-on public offering at $23 per share at the end of July for $145.5 million. The clinical-stage biopharmaceutical company develops treatments for pain management and pruritus. It works specifically on peripherally acting kappa opioid for the treatment of the two conditions. The company is expected to submit a new drug application to the US FDA
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