first_img Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. What’s going on with the Kanabo share price? See all posts by Zaven Boyrazian Zaven Boyrazian does not own shares in Kanabo. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Simply click below to discover how you can take advantage of this. Image source: Getty Images Zaven Boyrazian | Tuesday, 18th May, 2021 | More on: KNB Get the full details on this £5 stock now – while your report is free. FREE REPORT: Why this £5 stock could be set to surge The Kanabo (LSE:KNB) share price has had a rough time since its IPO. Despite rising from its issue price of 6.5p to over 40p within 48 hours of being listed, the stock has since tumbled substantially. In fact, it’s so far lost around half its value and currently trades at a price of around 19p per share. But is this an opportunity to buy the stock at a discount? Let’s take a look.The falling Kanabo share priceI’ve previously explored Kanabo’s business model. But as a quick reminder, it is a medical cannabis company that develops and manufactures CBD-based products and inhalers. The long-term strategy is to create and sell a wide range of unlicensed medical oils that can be used in combination with its inhalation devices. If successful, it may lead to the replication of Gillette’s razor and blade type of business model that continues to generate consistent recurring revenue.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…With that in mind, I can see why investors were initially excited at the prospect of owning shares in this business. So why has the Kanabo share price fallen by so much since? There are likely to be many contributing factors. But as far as I can tell, it seems the initial excitement has started to die down after investors have taken a closer look.The firm has only just begun generating revenue from a relatively unproven collection of products. While that doesn’t mean it can’t be successful, it does add a considerable level of risk for investors, should it fail to meet performance expectations. Having said that, Kanabo has been making good progress.Revenue on the horizonThe firm recently published its first-quarter operational update for 2021. And so far, it seems everything is progressing as expected. The management team has begun making preparations to launch new medical cannabis products within the next six months.What’s more, its flagship vaporisation device, VapePod MD, is currently being reviewed for certification. However, it is worth noting that the average approval time for a new medical device can vary from a week to eight months. In other words, Kanabo and its share price may not be able to fully benefit until 2022.Beyond product development, it has also has signed two new partnerships. The first is with PharmaCann Polska, which increased Kanabo’s production capacity by an additional 36,000 vaping cartridges per month. And the second is a distribution agreement with Astral Health. This contract allows the business to tap into an established patient ecosystem — a valuable advantage to have, given Kanabo’s current lack of brand awareness. At least, that’s what I think.Is it time to invest?The medical cannabis industry is growing at a phenomenal rate. And as more governments legalise the use of medical marijuana, this level of growth will likely accelerate. As such, Kanabo and its share price seem to be operating in an increasingly favourable environment.However, there remains a long road ahead, with plenty of other companies trying to penetrate the same market. So for now, I’m keeping Kanabo on my watch list. Enter Your Email Address Are you on the lookout for UK growth stocks?If so, get this FREE no-strings report now.While it’s available: you’ll discover what we think is a top growth stock for the decade ahead.And the performance of this company really is stunning.In 2019, it returned £150million to shareholders through buybacks and dividends.We believe its financial position is about as solid as anything we’ve seen.Since 2016, annual revenues increased 31%In March 2020, one of its senior directors LOADED UP on 25,000 shares – a position worth £90,259Operating cash flow is up 47%. (Even its operating margins are rising every year!)Quite simply, we believe it’s a fantastic Foolish growth pick.What’s more, it deserves your attention today.So please don’t wait another moment. But there is another growth stock that caught my eye this week… I would like to receive emails from you about product information and offers from The Fool and its business partners. 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