Best Cannabis Stocks To Consider – August 10th

Incannex Healthcare, Canopy Growth, and Indivior are the three Cannabis stocks to watch today, according to MarketBeat’s stock screener tool. Cannabis stocks are equity shares in publicly traded companies that cultivate, produce, distribute or research cannabis and cannabis-derived products—ranging from medical and recreational marijuana to CBD oils and other cannabinoids. Their performance tends to be volatile, driven largely by shifting regulatory landscapes, legalization efforts, market competition and changing 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.

NASDAQ IXHL traded down $0.02 during mid-day trading on Friday, hitting $0.44. The company’s stock 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 stock’s fifty day simple moving average is $0.40 and its two-hundred day simple moving average is $0.71. 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.

Shares of CGC traded up $0.20 during mid-day trading on Friday, reaching $1.25. 45,587,447 shares of the stock traded hands, compared to its average volume of 7,896,604. The firm has a market cap of $256.44 million, a price-to-earnings ratio of -0.41 and a beta of 0.67. The stock has a fifty day simple moving average of $1.23 and a 200 day simple moving average of $1.36. Canopy Growth has a 12-month low of $0.77 and a 12-month high of $7.21. The company has a quick ratio of 2.10, a current ratio of 3.12 and a debt-to-equity ratio of 0.62.

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 INDV traded down $0.05 during mid-day trading on Friday, reaching $22.00. 2,192,955 shares of the stock traded hands, compared to its average volume of 4,354,715. The stock has a fifty day simple moving average of $15.83 and a 200 day simple moving average of $12.24. Indivior has a 12-month low of $7.33 and a 12-month high of $22.45.