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Cara Therapeutics Inc (NASDAQ:CARA) Fails To Extend Gains

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In the last trading session, the stock price of Cara Therapeutics Inc (NASDAQ:CARA) declined around 1% to close the day at $13.37. The decline came at a share volume of 462,177 compared to average share volume of 980,416.

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As per a report by New Frontier Data, the sales of medical cannabis are expected to hit $5.3 billion in this year, or account for 67% of total cannabis sales. Moreover, by 2025, medical sales are expected to surge to $13.2 billion, considering the current number of legal states, and will account for 55% of total sales.

Comparatively, the projected adult-use cannabis sales for this year stands at $2.6 billion, and jumping to $10.9 billion by 2025. This brings focus on California, which provides the perfect example of the reason it is so vital to comprehend trends in consumer behavior. The state’s authorized industry is expected to grow to $5.6 billion in 2020 from $2.8 billion in 2017.

New Frontier also remarked on the growth in cannabis investing in the next two years, including the response of the investment community to the general elections held last year. Cannabis stocks have seen notable growth in previous years, with the Viridian Cannabis Stock Index jumping 236.1% in 2016 alone.

Giadha Aguirre De Carcer, the CEO of New Frontier Data, reported that cannabis stocks considerably outperformed major indexes last year, supported by speculative investment dependent on expected expansion of new approved markets. In the run up to the general election, stocks surged by 207.8% and continued to grow, even with an uncertainty under the new administration. While recent remarks by the Trump administration did have a preliminary stifling effect on the market, they have witnessed continued growth relative to the fourth quarter of 2016 whereby cannabis equities are still outperforming other segments.

Cara Therapeutics is advancing lead molecules that selectively control peripheral CB receptors without aiming CNS cannabinoid receptors. As a part of the process, Peripheral CB receptor modulators will be preliminary advanced as a unique therapeutic process for neuropathic pain.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of MMJReporter.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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