LAS VEGAS, November 8, 2017 /PRNewswire/ --

The 2016 elections created a lot of excitement among marijuana and CBD supporters, as voters approved marijuana legalization in eight states, including four states (California, Maine, Massachusetts, and Nevada) that will allow recreational marijuana use.

This has policy-makers thinking more approvals could be coming that further expand the legal marijuana market. As such, investors are increasingly looking for stocks that could benefit from growing marijuana use, while there are some obvious routes like drug companies seeking to profit from developing marijuana-derived medicines. There are also companies utilizing the medicinal properties of CBD to improve non medicinal products.

A few Marijuana/CBD companies we're tracking include: NightFood Holdings (OTC: NGTF), GW Pharmaceuticals Plc (NASDAQ: GWPH), Insys Therapeutics (NASDAQ: INSY), Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP), and AbbVie Inc. (NYSE: ABBV).

NightFood Holdings (OTC: NGTF)

Market Cap: $2.7 Million Share Price: $0.089 

NGTF announced it is working on making snacks utilizing CBD which has been found to promote and support better sleep. NightFood is already is the first (and currently only) nutrition company to formulate and manufacture sleep friendly snacks to solve the $50 Billion dollar nighttime craving problem. Their first product is the NightFood nutrition bar which is selling on Amazon. The product is highly rated and has been gaining traction since becoming available toward the middle of June. The company is also planning additional snack formats, including the late night snacking staple: ice cream. CBD snacks would be a huge benefit for this already exciting company.

GW Pharmaceuticals Plc (NASDAQ: GWPH)

Market Cap: $2.88 Billion Share Price: $113.84 

GWPH has one of the most robust pipeline of potential marijuana medicines. The company has already won European approval for its THC drug, Sativex, for treating multiple sclerosis-related muscle spasms, and it's researching therapies created from the marijuana cannabinoid CBD, too.

Insys Therapeutics (NASDAQ: INSY)

Market Cap: $375.74 Million Share Price: $376.84 

INSY had a ferociously frightening month, highlighted by the arrest of its founder, the setting aside of $150 million for lawsuits, and slumping sales. All this was behind a 42% crash in October, according to S&P Global Market Intelligence . Insys Therapeutics' troubles stem from Subsys, a powerful fentanyl spray approved to treat breakthrough pain in cancer patients.

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP)

Market Cap: $381.37 Million Share Price: $6.93 

CRBP has seen some dramatic ups and downs over the past year. Hopes rise and fall for its marijuana-based drugs, which are in clinical trials. Resunab, which is designed to treat sclerosis, has had promising trials. The stock has tended to dip just before trial results are announced and then rally when the results are positive. Corbus is now testing Resunab as a treatment for cystic fibrosis. The pessimism/optimism pattern will likely continue to play out as this drug is tested yet again. The company has negative operating income, and revenues are close to zero. Corbus is a company depending on the success of a single drug that could make or break it.

AbbVie Inc. (NYSE: ABBV)

Market Cap: $148.2 Billion Share Price: $92.97 

ABBV is a pharmaceutical company that is ahead of the pack because it has a cannabis-based drug on the market. The FDA approved Marinol, which helps alleviate nausea or vomiting for chemotherapy patients. The drug also helps AIDS patients who have lost their desire to eat. It is important to note that Marinol is not AbbVie's flagship drug. In fact, it is not even the company's biggest seller. The company is benefiting from a host of useful drugs, including Marinol. AbbVie is another way to play the marijuana trend without incurring 100% exposure to the plant much like NightFood Holdings (NGTF).

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