Best Cannabis Stocks Worth Watching – August 4th

Incannex Healthcare, Indivior, Tilray Brands, Turning Point Brands, and Gibraltar Industries are the five Cannabis stocks to watch today, according to MarketBeat’s stock screener tool. Cannabis stocks are shares of publicly traded companies that are involved in the legal cannabis industry, including the cultivation, processing, distribution, and sale of marijuana and hemp products. Investors buy these stocks to gain exposure to the rapidly evolving market for medicinal and recreational cannabis. Performance of cannabis stocks can be influenced by regulatory changes, consumer demand, and developments in cannabinoid research. 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 $0.05 during trading on Monday, reaching $0.43. 103,997,561 shares of the stock were exchanged, compared to its average volume of 55,803,352. Incannex Healthcare has a 1-year low of $0.08 and a 1-year high of $3.12. The stock has a fifty day moving average of $0.38 and a two-hundred day moving average of $0.76. The firm has a market cap of $12.68 million, a price-to-earnings ratio of -0.36 and a beta of 7.67.

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.

Shares of NASDAQ:INDV traded down $0.00 during trading on Monday, reaching $21.05. 1,151,619 shares of the stock were exchanged, compared to its average volume of 1,718,684. Indivior has a 1-year low of $7.33 and a 1-year high of $21.49. The stock has a fifty day moving average of $14.85 and a two-hundred day moving average of $11.90.

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 NASDAQ:TLRY traded up $0.04 during trading on Monday, reaching $0.61. 9,443,996 shares of the stock were exchanged, compared to its average volume of 35,620,961. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.46 and a quick ratio of 1.49. Tilray Brands has a 1-year low of $0.35 and a 1-year high of $1.98. The stock has a fifty day moving average of $0.51 and a two-hundred day moving average of $0.63. The firm has a market cap of $609.94 million, a price-to-earnings ratio of -0.26 and a beta of 1.85.

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.

Shares of NYSE:TPB traded up $1.30 during trading on Monday, reaching $82.26. 47,303 shares of the stock were exchanged, compared to its average volume of 251,350. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 36.13 and a beta of 0.66. The stock has a fifty day moving average of $75.64 and a two-hundred day moving average of $67.49. Turning Point Brands has a 1-year low of $34.78 and a 1-year high of $84.05. The company has a debt-to-equity ratio of 1.44, a current ratio of 4.42 and a quick ratio of 2.64.

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.

NASDAQ ROCK traded down $0.29 on Monday, reaching $64.03. The company had a trading volume of 46,638 shares, compared to its average volume of 265,061. The stock has a market capitalization of $1.89 billion, a P/E ratio of 14.72, a P/E/G ratio of 0.88 and a beta of 1.32. The company’s fifty day moving average is $61.28 and its 200 day moving average is $60.25. Gibraltar Industries has a 52-week low of $48.96 and a 52-week high of $74.97.