Cannabis Stocks Worth Watching – August 16th

Tilray Brands, Indivior, and Turning Point Brands are the three 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 and sale of medical or recreational marijuana, as well as firms providing ancillary products and services (such as growing equipment, software or testing laboratories) to the legal cannabis industry. Investing in these stocks offers exposure to a rapidly growing market but carries unique risks including shifting regulations, federal legality concerns and high price volatility. 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.

NASDAQ TLRY traded down $0.15 on Friday, hitting $1.03. 88,738,522 shares of the company’s stock were exchanged, compared to its average volume of 75,635,760. The stock has a 50-day moving average of $0.59 and a 200-day moving average of $0.61. The company has a current ratio of 2.46, a quick ratio of 1.49 and a debt-to-equity ratio of 0.20. Tilray Brands has a 52 week low of $0.35 and a 52 week high of $1.97. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -0.45 and a beta of 1.85.

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 up $0.29 on Friday, hitting $23.46. 1,559,768 shares of the company’s stock were exchanged, compared to its average volume of 4,491,097. The stock has a 50-day moving average of $16.79 and a 200-day moving average of $12.62. Indivior has a 52 week low of $7.33 and a 52 week high of $23.55.

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 $0.84 on Friday, hitting $98.50. 340,606 shares of the company’s stock were exchanged, compared to its average volume of 452,670. The stock has a 50-day moving average of $79.64 and a 200-day moving average of $69.84. The company has a current ratio of 4.22, a quick ratio of 2.64 and a debt-to-equity ratio of 1.30. Turning Point Brands has a 52 week low of $38.08 and a 52 week high of $102.90. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 41.21 and a beta of 0.66.