Cannabis Stocks To Keep An Eye On – June 18th

Aurora Cannabis, Tilray Brands, Quantum Biopharma, Canopy Growth, and Incannex Healthcare are the five Cannabis stocks to watch today, according to MarketBeat’s stock screener tool. Cannabis stocks are equity shares of companies involved in the cultivation, processing, distribution or retail sale of cannabis and cannabis-derived products for medicinal and/or recreational use. They may also include ancillary businesses such as equipment suppliers, biotechnology firms developing cannabinoid-based therapies, and licensed dispensaries. Because the legal status of cannabis varies widely across jurisdictions, these stocks often experience higher volatility and unique regulatory risks. These companies had the highest dollar trading volume of any Cannabis stocks within the last several days.

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.

ACB traded down $1.19 during trading on Wednesday, hitting $4.70. The company’s stock had a trading volume of 3,849,631 shares, compared to its average volume of 1,536,243. The stock’s fifty day moving average price is $5.04 and its 200-day moving average price is $4.74. The firm has a market capitalization of $263.91 million, a P/E ratio of 93.72 and a beta of 1.82. The company has a quick ratio of 1.60, a current ratio of 3.30 and a debt-to-equity ratio of 0.07. Aurora Cannabis has a twelve month low of $3.42 and a twelve month high of $7.20.

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.

Shares of NASDAQ TLRY traded down $0.01 during midday trading on Wednesday, hitting $0.38. 26,658,040 shares of the stock traded hands, compared to its average volume of 34,262,820. The company has a market cap of $381.46 million, a PE ratio of -0.36 and a beta of 1.83. The business has a 50 day moving average price of $0.45 and a two-hundred day moving average price of $0.80. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 2.62. Tilray Brands has a one year low of $0.37 and a one year high of $2.15.

Quantum Biopharma (QNTM)

Quantum Biopharma Ltd. is a biotechnology pharmaceutical research and development company, which focuses on the cultivation, process, and sale of medical cannabis. It operates through the Biotechnology and Strategic Investments segments. The Biotechnology segment is involved in the research and development of the company’s three drug candidates consisting of FSD-PEA, Lucid-PSYCH, and Lucid-MS.

Shares of NASDAQ:QNTM traded up $3.00 during mid-day trading on Wednesday, hitting $28.73. 282,387 shares of the company traded hands, compared to its average volume of 945,793. The stock has a market cap of $77.86 million, a P/E ratio of -1.80 and a beta of 0.55. The stock has a 50-day moving average price of $10.72 and a two-hundred day moving average price of $7.25. Quantum Biopharma has a 12-month low of $2.70 and a 12-month high of $29.99.

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 $0.03 on Wednesday, hitting $1.30. The stock had a trading volume of 4,242,424 shares, compared to its average volume of 6,074,054. Canopy Growth has a 1 year low of $0.77 and a 1 year high of $8.65. The firm’s fifty day simple moving average is $1.40 and its two-hundred day simple moving average is $1.81. The stock has a market cap of $238.11 million, a P/E ratio of -0.32 and a beta of 0.75. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.10 and a current ratio of 3.12.

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.

IXHL stock traded up $0.00 during midday trading on Wednesday, hitting $0.22. The company’s stock had a trading volume of 22,631,593 shares, compared to its average volume of 13,991,707. Incannex Healthcare has a 1 year low of $0.08 and a 1 year high of $3.55. The stock has a market cap of $6.59 million, a price-to-earnings ratio of -0.19 and a beta of 7.63. The stock’s 50-day moving average price is $0.31 and its 200 day moving average price is $1.08.