Best Cannabis Stocks To Watch Today – May 18th

Gibraltar Industries, Incannex Healthcare, and Canopy Growth are the three Cannabis stocks to watch today, according to MarketBeat’s stock screener tool. Cannabis stocks are publicly traded shares of companies involved in the legal cannabis industry, including cultivation, processing, distribution and ancillary services such as biotechnology, equipment manufacturing or retail. Like other equities, their prices fluctuate based on factors such as shifting regulations, consumer demand, market sentiment and broader economic conditions. These companies had the highest dollar trading volume of any Cannabis stocks within the last several days.

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 up $1.27 during trading on Friday, reaching $62.50. The company had a trading volume of 1,383,289 shares, compared to its average volume of 225,980. The company’s fifty day moving average price is $57.43 and its 200-day moving average price is $62.20. Gibraltar Industries has a 12 month low of $48.96 and a 12 month high of $81.90. The stock has a market cap of $1.84 billion, a P/E ratio of 13.98 and a beta of 1.30.

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 down $0.01 during midday trading on Friday, reaching $0.26. The company’s stock had a trading volume of 219,208,393 shares, compared to its average volume of 8,908,861. The firm has a market capitalization of $4.64 million, a price-to-earnings ratio of -0.19 and a beta of 7.67. The company has a debt-to-equity ratio of 2.47, a quick ratio of 1.65 and a current ratio of 1.80. The firm has a 50 day moving average price of $0.54 and a two-hundred day moving average price of $1.39. Incannex Healthcare has a fifty-two week low of $0.08 and a fifty-two week high of $3.55.

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 NASDAQ:CGC traded up $0.32 during midday trading on Friday, reaching $1.66. The company’s stock had a trading volume of 14,584,235 shares, compared to its average volume of 5,748,541. The firm has a 50 day moving average price of $1.16 and a two-hundred day moving average price of $2.21. Canopy Growth has a fifty-two week low of $0.77 and a fifty-two week high of $11.14. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.58 and a current ratio of 3.52. The firm has a market capitalization of $305.22 million, a price-to-earnings ratio of -0.44 and a beta of 0.79.