Top Cannabis Stocks Worth Watching – July 24th

Incannex Healthcare, Indivior, Tilray Brands, Turning Point Brands, Canopy Growth, Innovative Industrial Properties, and Gibraltar Industries are the seven Cannabis stocks to watch today, according to MarketBeat’s stock screener tool. Cannabis stocks are shares of publicly traded companies involved in the cultivation, processing, distribution or ancillary services of cannabis and hemp-derived products. By buying these equities, investors gain exposure to the growing legal marijuana market—spanning medical, recreational and industrial uses—but should be aware that regulatory shifts and market volatility can lead to significant price swings. 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 up $0.49 during trading on Thursday, reaching $1.50. The stock had a trading volume of 167,132,714 shares, compared to its average volume of 45,911,375. The company has a market cap of $44.00 million, a P/E ratio of -1.19 and a beta of 7.47. The business’s 50-day moving average price is $0.27 and its 200-day moving average price is $0.81. Incannex Healthcare has a fifty-two week low of $0.08 and a fifty-two week high of $3.12.

Indivior (INDV)

Indivior PLC, together with its subsidiaries, engages in the development, manufacture, and sale of buprenorphine-based prescription drugs for the treatment of opioid dependence and co-occurring disorders in the United States, the United Kingdom, and internationally. The company develops medicines to treat substance use disorders, serious mental illnesses, and opioid overdose.

NASDAQ INDV traded down $0.28 on Thursday, hitting $16.68. 940,178 shares of the company’s stock were exchanged, compared to its average volume of 1,430,468. The firm’s 50-day moving average price is $13.90 and its two-hundred day moving average price is $11.59. Indivior has a fifty-two week low of $7.33 and a fifty-two week high of $17.11.

Tilray Brands (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 Brands stock traded down $0.04 during trading hours on Thursday, reaching $0.70. 14,812,059 shares of the company’s stock were exchanged, compared to its average volume of 35,538,480. Tilray Brands has a 52-week low of $0.35 and a 52-week high of $2.15. The firm has a market capitalization of $704.55 million, a price-to-earnings ratio of -0.66 and a beta of 1.82. The company has a fifty day moving average of $0.48 and a 200-day moving average of $0.67. The company has a current ratio of 2.62, a quick ratio of 1.61 and a debt-to-equity ratio of 0.12.

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.

NYSE TPB traded down $0.72 during trading hours on Thursday, hitting $78.99. The company had a trading volume of 82,013 shares, compared to its average volume of 244,554. The firm’s 50 day moving average is $74.64 and its 200 day moving average is $66.18. The company has a debt-to-equity ratio of 1.44, a current ratio of 4.42 and a quick ratio of 2.64. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 34.62 and a beta of 0.75. Turning Point Brands has a fifty-two week low of $34.78 and a fifty-two week high of $81.25.

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.

NASDAQ:CGC traded down $0.04 during mid-day trading on Thursday, reaching $1.14. The stock had a trading volume of 3,499,535 shares, compared to its average volume of 8,257,299. The company has a market capitalization of $232.85 million, a price-to-earnings ratio of -0.28 and a beta of 0.73. Canopy Growth has a 1-year low of $0.77 and a 1-year high of $8.04. The stock’s 50 day simple moving average is $1.37 and its two-hundred day simple moving average is $1.48. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.12 and a quick ratio of 2.10.

Innovative Industrial Properties (IIPR)

NYSE IIPR traded down $0.55 during trading hours on Thursday, reaching $54.29. The company’s stock had a trading volume of 58,147 shares, compared to its average volume of 319,170. The business has a 50-day simple moving average of $55.98 and a 200 day simple moving average of $60.83. The stock has a market cap of $1.52 billion, a PE ratio of 10.45 and a beta of 1.69. The company has a current ratio of 10.73, a quick ratio of 10.73 and a debt-to-equity ratio of 0.15. Innovative Industrial Properties has a 52 week low of $45.44 and a 52 week high of $138.35.

Gibraltar Industries (ROCK)

Gibraltar Industries, Inc. manufactures and provides products and services for the renewable energy, residential, agtech, and infrastructure markets in the United States and internationally. It operates through four segments: Renewables, Residential, Agtech, and Infrastructure. The Renewables segment designs, engineers, manufactures, and installs solar racking and electrical balance of systems for commercial and distributed generation scale solar installations.

Shares of NASDAQ ROCK traded down $0.66 during mid-day trading on Thursday, reaching $64.96. 39,134 shares of the company traded hands, compared to its average volume of 267,308. Gibraltar Industries has a fifty-two week low of $48.96 and a fifty-two week high of $81.90. The firm has a market cap of $1.92 billion, a PE ratio of 14.93 and a beta of 1.32. The stock has a fifty day simple moving average of $60.49 and a 200-day simple moving average of $59.88.