Best Cannabis Stocks To Follow Today – August 15th

Tilray Brands, Canopy Growth, Turning Point Brands, Indivior, and Incannex Healthcare are the five Cannabis stocks to watch today, according to MarketBeat’s stock screener tool. Cannabis stocks are shares of publicly traded companies whose primary business involves the cultivation, distribution, processing, or retail of cannabis and related products. Investors buy these equities to gain exposure to the rapidly growing medical and recreational marijuana markets. Like other sector-specific stocks, their performance is influenced by regulatory changes, market demand, and industry developments. These companies had the highest dollar trading volume of any Cannabis stocks within the last several days.

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.

Tilray Brands stock traded down $0.11 during trading on Friday, hitting $1.08. The company’s stock had a trading volume of 46,661,939 shares, compared to its average volume of 40,333,520. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.49 and a current ratio of 2.46. Tilray Brands has a 1-year low of $0.35 and a 1-year high of $1.97. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -0.47 and a beta of 1.85. The stock’s fifty day moving average is $0.58 and its 200 day moving average is $0.61.

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.

CGC traded down $0.11 on Friday, reaching $1.39. The company’s stock had a trading volume of 11,173,219 shares, compared to its average volume of 9,740,301. The stock has a market cap of $284.13 million, a price-to-earnings ratio of -0.46 and a beta of 0.67. Canopy Growth has a 1 year low of $0.77 and a 1 year high of $7.12. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.07 and a quick ratio of 2.10. The business’s 50 day moving average is $1.25 and its 200 day moving average is $1.35.

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 $0.63 during trading hours on Friday, reaching $98.71. 120,056 shares of the stock were exchanged, compared to its average volume of 267,387. The company has a quick ratio of 2.64, a current ratio of 4.22 and a debt-to-equity ratio of 1.30. The firm has a 50 day simple moving average of $79.19 and a 200-day simple moving average of $69.58. The stock has a market capitalization of $1.78 billion, a P/E ratio of 41.29 and a beta of 0.66. Turning Point Brands has a 52 week low of $38.08 and a 52 week high of $102.90.

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.

INDV traded up $0.21 during trading hours on Friday, hitting $23.38. The company’s stock had a trading volume of 399,192 shares, compared to its average volume of 1,787,226. The company has a 50-day simple moving average of $16.60 and a 200 day simple moving average of $12.54. Indivior has a fifty-two week low of $7.33 and a fifty-two week high of $23.43.

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 Incannex Healthcare stock traded down $0.01 during midday trading on Friday, hitting $0.39. The company’s stock had a trading volume of 18,726,405 shares, compared to its average volume of 58,034,039. Incannex Healthcare has a 1-year low of $0.08 and a 1-year high of $3.12. The stock has a 50-day simple moving average of $0.41 and a 200-day simple moving average of $0.68. The firm has a market capitalization of $11.42 million, a P/E ratio of -0.32 and a beta of 7.67.