Promising Cannabis Stocks To Add to Your Watchlist – July 15th

Incannex Healthcare, Turning Point Brands, and Innovative Industrial Properties are the three Cannabis stocks to watch today, according to MarketBeat’s stock screener tool. Cannabis stocks are shares of publicly traded companies operating in the legal marijuana industry, including cultivation, processing, distribution, and ancillary services such as biotechnology and retail. Investors buy these equities to gain exposure to the sector’s growth potential and changing regulatory landscape. Like other equity investments, cannabis stocks can be volatile, reflecting shifts in policy, market competition, and consumer demand. 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.

IXHL traded up $0.08 during trading hours on Tuesday, hitting $0.31. The company’s stock had a trading volume of 277,542,399 shares, compared to its average volume of 17,149,942. The business’s 50-day moving average price is $0.21 and its 200-day moving average price is $0.87. Incannex Healthcare has a 12 month low of $0.08 and a 12 month high of $3.12. The stock has a market cap of $9.21 million, a price-to-earnings ratio of -0.26 and a beta of 7.47.

Turning Point Brands (TPB)

Turning Point Brands, Inc., together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker’s Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.

TPB stock traded up $1.08 during mid-day trading on Tuesday, reaching $75.69. 175,964 shares of the stock traded hands, compared to its average volume of 194,670. The company has a debt-to-equity ratio of 1.44, a quick ratio of 2.64 and a current ratio of 4.42. Turning Point Brands has a one year low of $34.78 and a one year high of $81.25. The stock has a market capitalization of $1.35 billion, a PE ratio of 33.13 and a beta of 0.75. The business has a 50-day moving average price of $73.58 and a two-hundred day moving average price of $65.25.

Innovative Industrial Properties (IIPR)

Shares of NYSE IIPR traded down $1.50 during mid-day trading on Tuesday, reaching $54.73. The company had a trading volume of 207,665 shares, compared to its average volume of 282,688. The business’s 50-day moving average is $56.12 and its 200-day moving average is $61.50. The company has a current ratio of 10.73, a quick ratio of 10.73 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 10.53 and a beta of 1.69. Innovative Industrial Properties has a 52 week low of $45.44 and a 52 week high of $138.35.