Why didn’t Stallone make a sequel at the time

I'm gonna take a stab at 'it was a steaming pile of shit'!

From watching the "behind the scenes of cobra" on the Blu-ray. I got the idea that is what he wanted to do. Turn cobra into his next franchise. But I think because Cobra didn't do as well bas he thought it would he nixed it.

because it's not a perfect world. in a perfect world cobra 2 exists.

someone recently made a sequel two-parter comic book which can be tracked down.

https://www.youtube.com/watch?v=Yb5Hsvt73ig

In this retrospective review, one of the critics at about the 14:26 mark, that Cobra didn't become another franchise for Stallone like Rocky or Rambo (or The Expendables later one) because it was much harder to relate to Lt. Marion "Cobra" Cobretti, than it was for audiences to relate to Rocky Balboa or John Rambo.

https://thedissolve.com/features/forgotbusters/749-cobra-gave-the-1980s-the-dirty-harry-knockoff-it-d/

https://www.nathanrabin.com/happy-place/2017/11/20/cannonvember-8-cobra-1986

https://cary-edwards.com/2019/06/04/cobra-george-p-cosmatos-1986-an-unintentional-postmodern-masterpiece/