Cannabis Stocks To Add to Your Watchlist – May 29th

Incannex Healthcare, Indivior, Tilray, Turning Point Brands, and Canopy Growth 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, processing, distribution or ancillary services of cannabis and hemp products. By purchasing these equities, investors gain exposure to the medical, recreational and CBD markets without directly handling the plant. Their performance is driven by factors such as shifting regulations, consumer demand and individual company financial health. 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 $0.01 during trading hours on Thursday, reaching $0.22. The company’s stock had a trading volume of 42,024,308 shares, compared to its average volume of 28,388,684. The firm has a fifty day simple moving average of $0.45 and a 200-day simple moving average of $1.27. The stock has a market cap of $6.45 million, a P/E ratio of -0.16 and a beta of 7.67. Incannex Healthcare has a 52 week low of $0.08 and a 52 week high of $3.55. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.80 and a quick ratio of 1.65.

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 $0.10 during trading hours on Thursday, reaching $12.14. The company’s stock had a trading volume of 427,762 shares, compared to its average volume of 1,027,015. The firm has a fifty day simple moving average of $10.38 and a 200-day simple moving average of $10.73. The stock has a market cap of $1.67 billion, a P/E ratio of -34.41 and a beta of 0.98. Indivior has a 52 week low of $7.33 and a 52 week high of $18.59.

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.

NASDAQ TLRY traded down $0.00 during trading hours on Thursday, reaching $0.45. The company’s stock had a trading volume of 7,990,557 shares, compared to its average volume of 34,792,305. The firm has a fifty day simple moving average of $0.50 and a 200-day simple moving average of $0.90. The stock has a market cap of $451.92 million, a P/E ratio of -1.50 and a beta of 1.95. Tilray has a 52 week low of $0.41 and a 52 week 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.

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 up $0.68 on Thursday, reaching $72.21. 48,763 shares of the stock traded hands, compared to its average volume of 170,330. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 28.62 and a beta of 0.69. The company’s 50 day moving average is $63.37 and its 200-day moving average is $62.15. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33. Turning Point Brands has a 1-year low of $30.61 and a 1-year high of $81.05.

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.

NASDAQ:CGC traded down $0.05 on Thursday, reaching $1.73. 1,968,079 shares of the stock traded hands, compared to its average volume of 7,623,257. The firm has a market capitalization of $317.17 million, a price-to-earnings ratio of -0.45 and a beta of 0.79. The company’s 50 day moving average is $1.27 and its 200-day moving average is $2.06. The company has a current ratio of 3.52, a quick ratio of 2.58 and a debt-to-equity ratio of 0.74. Canopy Growth has a 1-year low of $0.77 and a 1-year high of $10.04.