TM editors' note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence.

Marijuana stocks have been on fire recently and many investors are wondering if the marijuana trade is back on.

While we are favorable on the recent rally, we are not going all in. Instead, we recently exited several positions that are up considerably in the last month and have raised cash for future opportunities.

From Canadian licensed medical marijuana producers to biotech firms focused on developing treatments from cannabis, we want to highlight five stocks that every investor should be watching.

1. MedReleaf Corp. (LEAF.TO) (MEDFF) announced a milestone after it completed its first international export. The company is the first to import medical cannabis oil to Brazil and helps establish its position as a leading source of cannabis-based pharmaceutical products. The export is being made to treat the symptoms of Sofia Langenbach, a child who carries the CDKL5 genetic syndrome causing her to experience severe seizures. The symptoms have only been alleviated by medical cannabis and we think this is a significant milestone for the firm.
2. Lifestyle Delivery Systems Inc. (LDS.CN) (LDSYF) announced the City of Adelanto's second reading and approval of Ordinance 572 for Medical Cannabis Manufacturing and Extraction at the July 26th regular scheduled City Council meeting. The ordinance is scheduled to go into effect on August 25th and the firm intends to file a request for final inspection of its manufacturing facility on August 24th. Upon a final approval by the city, the company will prepare the facility for the commencement of operations which will include both dry and wet production runs to calibrate the equipment and coordinate operational support systems and protocols. 
3. Marapharm Ventures Inc. (MRPHF) (MDM.CN) announces that approximately $6 million of the common share warrants announced on July 5th have been reserved and/or paid for. Due to overwhelming interest, Marapharm decided that they will extend the warrant offering to September 15th and will include new exemptions to make the offering more inclusive. The company may complete a portion of the offering pursuant to Multilateral CSA Notice 45-318 Prospectus Exemption for Certain Distributions through an Investment Dealer and the corresponding instruments, orders and rules implementing CSA 45-318 in the participating jurisdictions. In addition to conducting the offering pursuant to the exemption, Marapharm will also accept subscriptions for warrants where other prospectus exemptions are available.
4. Nemus Bioscience (NMUS) has come off its highs from last week and we continue to monitor the shares for a bottom. The shares moved higher last week after Nemus said it will present new data on August 12th on NB2111 analgesic and anti-addiction cannabinoid treatment.Nemus also reported that the data from the University of Mississippi (Nemus’ R&D partner) will be presented on August 12th at the Chemistry and Pharmacology of Drug Abuse Conference supported by the National Institute of Drug Abuse (NIDA) meeting at Northeastern University in Boston. The title of the presentation is, Differential Modulation of Addiction and Pain by Cannabidiol (CBD) and CBD Derivatives.
5. Terra Tech Inc. (TRTC​) reported second quarter earnings yesterday and despite the better-than-expected demand for recreational marijuana in Nevada, the company left its full-year guidance unchanged.

During the quarter, Terra Tech recorded a $454,000 net loss on $7.84 million in revenue. When compared to the same quarter last year, revenue declined by more than 19% while its gross margin improved by 3.3%.