Top Cannabis Stocks To Watch Now – August 9th

Incannex Healthcare, Canopy Growth, Indivior, Turning Point Brands, Innovative Industrial Properties, Tilray Brands, and Gibraltar Industries are the seven Cannabis stocks to watch today, according to MarketBeat’s stock screener tool. Cannabis stocks represent shares in publicly traded companies that cultivate, process, distribute or provide ancillary services for legal marijuana and hemp products. Investing in these equities offers exposure to the rapidly growing cannabis industry but carries heightened regulatory, legal and market-volatility risks. 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 stock traded down $0.02 during trading on Friday, hitting $0.44. The company had a trading volume of 171,145,759 shares, compared to its average volume of 236,864,848. Incannex Healthcare has a 52-week low of $0.08 and a 52-week high of $3.12. The company has a 50 day simple moving average of $0.40 and a 200-day simple moving average of $0.72. The firm has a market capitalization of $13.01 million, a P/E ratio of -0.37 and a beta of 7.67.

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.

Canopy Growth stock traded up $0.20 during midday trading on Friday, hitting $1.25. 45,587,447 shares of the company’s stock were exchanged, compared to its average volume of 7,896,604. Canopy Growth has a 12 month low of $0.77 and a 12 month high of $7.21. The company has a market cap of $256.44 million, a PE ratio of -0.31 and a beta of 0.67. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.10 and a current ratio of 3.12. The firm has a 50-day moving average of $1.23 and a two-hundred day moving average of $1.37.

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 $0.05 during trading on Friday, reaching $22.00. The stock had a trading volume of 2,192,955 shares, compared to its average volume of 4,354,715. Indivior has a one year low of $7.33 and a one year high of $22.45. The firm’s 50-day simple moving average is $15.83 and its 200 day simple moving average is $12.24.

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 $2.69 during trading on Friday, reaching $96.83. The company had a trading volume of 348,949 shares, compared to its average volume of 448,246. The firm has a 50-day simple moving average of $77.27 and a 200-day simple moving average of $68.44. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 40.51 and a beta of 0.66. 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 twelve month low of $36.35 and a twelve month high of $98.37.

Innovative Industrial Properties (IIPR)

IIPR stock traded down $0.26 during trading on Friday, reaching $45.84. The company had a trading volume of 604,363 shares, compared to its average volume of 312,100. Innovative Industrial Properties has a twelve month low of $45.44 and a twelve month high of $138.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 10.73 and a current ratio of 10.30. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 9.92 and a beta of 1.65. The firm has a 50-day simple moving average of $54.89 and a 200-day simple moving average of $59.58.

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.

TLRY traded down $0.00 during trading on Friday, reaching $0.65. 28,704,128 shares of the company’s stock were exchanged, compared to its average volume of 36,457,260. Tilray Brands has a 1 year low of $0.35 and a 1 year high of $1.98. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.46 and a quick ratio of 1.49. The stock has a market capitalization of $652.92 million, a P/E ratio of -0.28 and a beta of 1.85. The company’s fifty day simple moving average is $0.52 and its 200-day simple moving average is $0.62.

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 $1.93 during trading on Friday, hitting $58.15. 253,071 shares of the stock traded hands, compared to its average volume of 241,194. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 13.94, a P/E/G ratio of 0.82 and a beta of 1.32. The company has a fifty day moving average price of $61.52 and a two-hundred day moving average price of $60.26. Gibraltar Industries has a 52-week low of $48.96 and a 52-week high of $74.97.