There are more cannabis stocks than you can shake a stick at that have performed dismally over the past couple of months. Many of them, though, started out in 2019 with nice gains. Big up-and-down swings come with the territory when you invest in cannabis stocks.

However, some of these stocks are coming back, and more could be on the way to doing so. Three cannabis stocks that I think investors should consider buying on the rebound in June are CannTrust Holdings (NYSE: CTST), Canopy Growth (NYSE: CGC), and KushCo Holdings (NASDAQOTH: KSHB). Here's why these stocks look like good picks.

However, natural gas may not be the only megaindustry that presents Chart with a big opportunity. On the first-quarter conference call, CEO Jill Evanko called out the massive global growth of cannabis in the coming years, describing it as having "double-digit growth potential" for the company, considering the expectation for global cannabis sales to reach $32 billion within a few years.

Could cannabis be Chart's next big source of growth? Let's take a closer look.

Just how big is the cannabis opportunity?

According to Evanko, there were $10.5 billion in legal (at the state level) cannabis sales in the U.S. in 2018, and that amount is expected to more than double to $22 billion in 2022, and close in on $32 billion around the world.

It's been a great year for Aurora Cannabis (NYSE: ACB) and Scotts Miracle-Gro Company (NYSE: SMG) so far. Both stocks are up more than 50% year to date. 

How the stocks achieved those gains have been quite different, though. Aurora's share price doubled by mid-March before falling back down to earth a bit. Scotts, meanwhile, rose relatively steadily throughout the year.

Which stock is the better pick for long-term investors? Here are the top arguments for both Aurora and Scotts Miracle-Gro.

In less than six years, Aurora Cannabis (NYSE:ACB) has built a cannabis empire.

It's an empire that stretches across five continents to 24 countries. Aurora now claims the highest production capacity in the entire cannabis industry. And the company's sales are growing by 21% -- not year over year but quarter over quarter.

But that's where Aurora has been and is now. Where will the company be in 10 years? There's no way to know for sure, of course. I think, however, that we can make some educated guesses.

Like many in the investing world, I’m excited about the marijuana boom. Everyone expected enormous gains post-legalization. But as it turned out, the marijuana industry is more complex than initially imagined. Instead of reporting massive profits, Canadian cannabis producers are reporting staggering losses.

The problem now is, how long it would take to recover those losses and post profits. As the players ramp up production to build scale, losses continue to rise. Hence, it somehow poses a dilemma to choose a favourite marijuana stock this year.

Generally speaking, penny stocks -- publicly traded companies with a low share price, usually below $5 -- are bad news. Stocks that have very low share prices are typically low for very good reasons.

This might include uncertainty about staying solvent, persistent losses, or operating in a highly competitive or unproven industry. The point being that while penny stock pops do amaze from time to time, penny stocks are, far more often than not, money losers for investors.

Kaya Holdings, Inc. (OTCQB:KAYS), an integrated retailer and producer of legal medical and recreational cannabis products, today announced that it is finalizing preparations to leverage its existing chain of Kaya Shack™  cannabis stores through the sale of franchises and licensing. 

 Harvest One Inc. (“Harvest One” or the “Company”) (TSXV: HVT; OTCQX: HRVOF), through it’s wholly-owned subsidiary Satipharm Ltd.(“Satipharm”) today announced that it has entered into an agreement to distribute their proprietary Satipharm CBD 10mg Gelpell® through Holland & Barrett, Europe’s largest retailer of nutritional supplements and wellness products with over 145 years of experience in the health and wellness industry.

Last week the FDA held its first-ever hearing on CBD, the non-psychoactive substance in cannabis. It has long-been used for medical applications and now that it’s being put into food items and sold on a mass-scale, the FDA is requesting more information. The hearing lasted nearly 10-hours and saw more than 100 speakers testify about the wide range of experiences and segments of the industry over the years. At the end of the day, everything seems to come down to compliance yet the FDA still has to determine how it will regulate CBD.

Cannabis stocks dipped on Thursday, with shares broadly down across US and Canadian markets.

The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, was down 1.5% to 242.7 points on Thursday afternoon. The Horizons Marijuana Life Sciences Index ETF dropped 1.7% to C$18.49. The newly launched OTCQX Cannabis Index was down 2.5% at 770.5 points.