Top Cannabis Stocks To Follow Now – May 20th

Incannex Healthcare, Canopy Growth, Tilray, Aurora Cannabis, Turning Point Brands, Innovative Industrial Properties, and Indivior are the seven Cannabis stocks to watch today, according to MarketBeat’s stock screener tool. Cannabis stocks are shares of publicly traded companies involved in the legal marijuana industry—ranging from growers and processors to distributors, biotech firms developing cannabis-derived medicines, and ancillary service providers. By buying these equities, investors gain exposure to the emerging cannabis market’s growth potential, as well as its regulatory risks and price volatility. 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.

Incannex Healthcare stock traded up $0.06 during mid-day trading on Tuesday, hitting $0.26. The company’s stock had a trading volume of 122,770,651 shares, compared to its average volume of 9,685,536. The company has a quick ratio of 1.65, a current ratio of 1.80 and a debt-to-equity ratio of 2.47. The stock has a market capitalization of $4.64 million, a P/E ratio of -0.18 and a beta of 7.67. Incannex Healthcare has a twelve month low of $0.08 and a twelve month high of $3.55. The stock’s fifty day moving average price is $0.53 and its two-hundred day moving average price is $1.37.

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 $0.06 during midday trading on Tuesday, reaching $1.70. The stock had a trading volume of 5,955,310 shares, compared to its average volume of 5,750,779. The firm’s fifty day simple moving average is $1.17 and its two-hundred day simple moving average is $2.17. Canopy Growth has a twelve month low of $0.77 and a twelve month high of $11.14. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.52 and a quick ratio of 2.58. The firm has a market cap of $311.65 million, a price-to-earnings ratio of -0.45 and a beta of 0.79.

Tilray (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 stock traded up $0.01 during midday trading on Tuesday, reaching $0.46. The stock had a trading volume of 9,483,051 shares, compared to its average volume of 28,101,786. The firm’s fifty day simple moving average is $0.53 and its two-hundred day simple moving average is $0.95. Tilray has a twelve month low of $0.41 and a twelve month high of $2.15. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58. The firm has a market cap of $466.01 million, a price-to-earnings ratio of -1.54 and a beta of 1.95.

Aurora Cannabis (ACB)

Aurora Cannabis Inc., together with its subsidiaries, produces, distributes, and sells cannabis and cannabis-derivative products in Canada and internationally. It operates through three segments: Canadian Cannabis, European Cannabis, and Plant Propagation. The company produces, distributes, and sells medical and consumer cannabis products in Canada.

Shares of NASDAQ:ACB traded up $0.17 during trading on Tuesday, reaching $5.19. 737,836 shares of the company traded hands, compared to its average volume of 1,564,430. The firm has a fifty day simple moving average of $4.50 and a 200 day simple moving average of $4.61. The firm has a market cap of $291.81 million, a P/E ratio of 103.92 and a beta of 1.94. Aurora Cannabis has a 1-year low of $3.42 and a 1-year high of $7.62. The company has a quick ratio of 1.60, a current ratio of 3.30 and a debt-to-equity ratio of 0.07.

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.

Shares of TPB stock traded up $0.44 on Tuesday, hitting $73.82. The company’s stock had a trading volume of 47,076 shares, compared to its average volume of 167,709. The firm’s fifty day moving average price is $61.25 and its 200-day moving average price is $61.19. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 29.21 and a beta of 0.69. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. Turning Point Brands has a fifty-two week low of $30.61 and a fifty-two week high of $81.05.

Innovative Industrial Properties (IIPR)

Shares of NYSE IIPR traded up $0.40 during trading hours on Tuesday, reaching $57.41. The stock had a trading volume of 57,778 shares, compared to its average volume of 269,932. The business’s fifty day moving average is $56.01 and its two-hundred day moving average is $74.23. The company has a debt-to-equity ratio of 0.16, a current ratio of 14.32 and a quick ratio of 11.53. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 10.37 and a beta of 1.73. Innovative Industrial Properties has a twelve month low of $45.44 and a twelve month high of $138.35.

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 down $0.30 on Tuesday, reaching $11.39. The company’s stock had a trading volume of 269,852 shares, compared to its average volume of 1,006,103. The firm has a market cap of $1.57 billion, a PE ratio of -32.53 and a beta of 0.98. The business has a 50-day moving average price of $10.15 and a 200 day moving average price of $10.66. Indivior has a 52 week low of $7.33 and a 52 week high of $18.59.