The month of May has been a bad one for Canopy Growth (TSX:WEED)(NYSE:CGC). After an epic four-month rally, shares in the world’s biggest weed company started falling, reaching as low as $60 after flirting with $70 weeks earlier.

This isn’t the first time Canopy shares have tanked. Shortly after marijuana was legalized last year, weed stocks fell in a bear market that brought Canopy as low as $36.

Having long been an industry that existed behind the scenes, the cannabis industry is maturing at an extraordinary rate.

Between mid-2017 and mid-2018, pot companies spent most of their efforts on securing funding for capacity expansion, and actually constructing (or acquiring) cultivation farms and processing facilities. Now, marijuana companies have turned their attention to the next most important facet of their development: getting noticed!

Aurora Cannabis Inc. shares rose Tuesday, after the Canadian company said it has entered a multiyear, multimillion-dollar agreement with mixed martial arts organization UFC to research the effect of hemp-derived CBD products on athlete recovery and wellness.

The companies have agreed to conduct the research at UFC’s Las Vegas institute, setting up clinical studies to evaluate CBD, a nonintoxicating ingredient in cannabis and hemp, as a treatment for pain management, inflammation, injury/exercise recovery and mental well being. Aurora sharesACB, +2.00% ACB, -0.77%  rose 3%.

Whether you realize it or not, mid-May a special time of the year for investors -- and I'm not talking about the barrage of earnings reports that have hit the newswires over the past couple of weeks. No, I'm talking about May 15 being the deadline for primetime money managers and Wall Street institutions to file Form 13F with the Securities and Exchange Commission.

Cronos Group Inc (TSX:CRON)(NASDAQ:CRON) has had a mixed year so far. The first three months or so saw the firm’s share price make giant leaps forward. However, a series of bad news have brought it back to earth.

Cronos released its fourth-quarter earnings report in March, and more recently, its financial results for the first quarter of the current fiscal year. Both times, Cronos disappointed investors. However, could now be a good time to buy shares of Cronos? What is the Toronto-based pot company doing that might be attractive to investors?

Zenabis Global (TSXV:ZENA) is not a name that is usually on most marijuana investors’ radars. Then again, in this post-legalization environment, it’s easy to see how a company like Zenabis, which has yet to complete its initial cultivation ramp up, can be overlooked in lieu of a name like Aurora Cannabis, which is selling products and battling for market share.

That said, Zenabis, for the most part, was comfortable being the underdog, as it quietly ramped up capacity and inked supply agreements and LOIs with every provincial regulatory body across Canada. That is until last month, when the company announced a disastrous $100 million raise consisting of convertible debt, warrants, and equity.

The marijuana industry has been dominated quite heavily buy the companies that can put forth groundbreaking innovation to help the future of the market flow smoother than ever. Only a few companies have been able to put this level of growth into their sights, which has made the market look even brighter for the coming years. While most in the industry keep a close eye on the companies that grow the substance, it seems as though there is quite a large opportunity with the companies that offer alternative products and services to the space.

One of our consistent favorites, OrganiGram Holdings Inc (OTCMKTS:OGRMF) is back on the move and making new all-time highs. We have said this one would lead the way, and we told you it would apply and list on a major US exchange. That trend continues, with shares breaking above the $7.50 level this week. Helping to drive the action, the company just announced the recent appointment of government relations expert Cameron Bishop as the Company’s Vice President, Public Affairs and Stakeholder Relations (North America).

Marijuana stocks continue to take the investing world by storm, with most cannabis companies having seen impressive share-price advances during 2019. However, Tilray (NASDAQ:TLRY) has been among the weaker performers in the space, as investors have increasingly questioned whether the company has what it takes to sustain a leadership role in the extremely competitive marijuana industry. Tilray knows that growth is an essential component of its success, but it's had to play catch-up with some of its larger rivals.

The marijuana stock market has left nothing to be desired for investors who have been watching the industry for some time now. The market has changed quite drastically over the course of the past few years which is one of the main reasons so many people have flocked to it. One of the largest shifts has been that of the general aura surrounding the industry. Many people have become overwhelmingly comfortable with the idea of legal cannabis, which has, in turn, made the investor space one of the friendliest that we have ever seen.