Cannabis Stocks To Follow Today – May 19th

Incannex Healthcare, Canopy Growth, Tilray, Innovative Industrial Properties, and Quantum Biopharma are the five Cannabis stocks to watch today, according to MarketBeat’s stock screener tool. Cannabis stocks are shares of publicly traded companies whose primary business involves the cultivation, processing, distribution or support services of cannabis and hemp products. Investing in these stocks offers exposure to the rapidly evolving legal cannabis industry, which is influenced by shifting regulations, consumer demand and market consolidation. Due to regulatory uncertainties and market volatility, cannabis stocks can carry higher risk and potential reward compared to more established sectors. These companies had the highest dollar trading volume of any Cannabis stocks within the last several days.

Incannex Healthcare (IXHL)

Incannex Healthcare Inc., a clinical stage pharmaceutical development company, engages in the research, development, and sale of medicinal cannabinoid and psychedelic pharmaceutical products and therapies. It develops products for the treatment of obstructive sleep apnoea (OSA), traumatic brain injury (TBI) and concussion, lung inflammation (ARDS, COPD, asthma, bronchitis), rheumatoid arthritis, inflammatory bowel disease, anxiety disorders, addiction disorders, pain, and other indications.

Shares of NASDAQ:IXHL traded down $0.06 during midday trading on Monday, hitting $0.20. The stock had a trading volume of 37,466,496 shares, compared to its average volume of 9,028,754. The company’s 50-day moving average price is $0.54 and its 200-day moving average price is $1.38. The company has a market capitalization of $3.63 million, a P/E ratio of -0.15 and a beta of 7.67. Incannex Healthcare has a fifty-two week low of $0.08 and a fifty-two week high of $3.55. The company has a quick ratio of 1.65, a current ratio of 1.80 and a debt-to-equity ratio of 2.47.

Canopy Growth (CGC)

Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in the United States, Canada, Germany, and internationally. It operates through Canada Cannabis, International Markets Cannabis, and Storz & Bickel segments.

CGC traded down $0.14 during trading on Monday, reaching $1.53. 3,647,705 shares of the company’s stock were exchanged, compared to its average volume of 5,740,349. Canopy Growth has a one year low of $0.77 and a one year high of $11.14. The company has a current ratio of 3.52, a quick ratio of 2.58 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $280.39 million, a PE ratio of -0.40 and a beta of 0.79. The firm has a fifty day moving average price of $1.16 and a two-hundred day moving average price of $2.20.

Tilray (TLRY)

Tilray, Inc. engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc. is headquartered in Canada.

Shares of Tilray stock traded down $0.04 during trading on Monday, reaching $0.46. 10,404,252 shares of the company traded hands, compared to its average volume of 28,126,763. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58. The company has a 50 day moving average price of $0.53 and a 200-day moving average price of $0.96. Tilray has a 1-year low of $0.41 and a 1-year high of $2.15. The firm has a market capitalization of $460.98 million, a PE ratio of -1.52 and a beta of 1.95.

Innovative Industrial Properties (IIPR)

Shares of IIPR stock traded down $0.05 on Monday, hitting $56.91. The stock had a trading volume of 55,076 shares, compared to its average volume of 270,279. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 10.29 and a beta of 1.73. The business has a 50 day moving average of $56.29 and a 200 day moving average of $74.72. The company has a debt-to-equity ratio of 0.16, a current ratio of 14.32 and a quick ratio of 11.53. Innovative Industrial Properties has a 12-month low of $45.44 and a 12-month high of $138.35.

Quantum Biopharma (QNTM)

Quantum Biopharma Ltd. is a biotechnology pharmaceutical research and development company, which focuses on the cultivation, process, and sale of medical cannabis. It operates through the Biotechnology and Strategic Investments segments. The Biotechnology segment is involved in the research and development of the company’s three drug candidates consisting of FSD-PEA, Lucid-PSYCH, and Lucid-MS.

NASDAQ:QNTM traded up $1.27 on Monday, reaching $11.52. 264,280 shares of the company’s stock were exchanged, compared to its average volume of 1,015,342. The firm has a market cap of $31.17 million, a price-to-earnings ratio of -0.75 and a beta of 0.11. The stock has a fifty day simple moving average of $7.13 and a 200-day simple moving average of $5.76. Quantum Biopharma has a 52 week low of $2.70 and a 52 week high of $18.00.