Cannabis Stocks To Watch Today – June 24th

InMed Pharmaceuticals, Quantum Biopharma, Innovative Industrial Properties, Tilray 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 involved in the cultivation, processing, distribution or sale of cannabis products. By purchasing these equities, investors gain exposure to the growing medical and recreational marijuana market without directly handling the plant itself. Because the industry is still young and subject to changing regulations and consumer trends, cannabis stocks can experience significant price volatility. These companies had the highest dollar trading volume of any Cannabis stocks within the last several days.

InMed Pharmaceuticals (INM)

InMed Pharmaceuticals Inc., a clinical stage pharmaceutical company, develops a pipeline of prescription-based products. The company operates through two segments, the InMed and the BayMedica. The InMed segment researches and develops cannabinoid-based pharmaceuticals products. The BayMedica segment develops proprietary manufacturing technologies to produce and sell rare cannabinoids for the health and wellness industry.

InMed Pharmaceuticals stock traded up $1.09 during trading hours on Tuesday, reaching $3.54. 99,266,983 shares of the company’s stock traded hands, compared to its average volume of 955,293. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.04 and a current ratio of 3.49. InMed Pharmaceuticals has a fifty-two week low of $1.72 and a fifty-two week high of $15.70. The firm has a market capitalization of $4.27 million, a price-to-earnings ratio of -0.30 and a beta of 0.17. The firm’s 50 day moving average is $2.78 and its 200-day moving average is $3.26.

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 QNTM stock traded up $3.63 on Tuesday, reaching $26.64. The company had a trading volume of 447,233 shares, compared to its average volume of 945,071. The stock has a market cap of $77.53 million, a PE ratio of -1.68 and a beta of 0.54. The company has a 50-day moving average of $12.54 and a 200-day moving average of $7.97. Quantum Biopharma has a 12 month low of $2.70 and a 12 month high of $38.25.

Innovative Industrial Properties (IIPR)

Shares of NYSE:IIPR traded up $0.84 during mid-day trading on Tuesday, reaching $59.06. The stock had a trading volume of 88,780 shares, compared to its average volume of 276,382. The firm has a market cap of $1.65 billion, a PE ratio of 11.36 and a beta of 1.70. The firm has a 50 day simple moving average of $55.04 and a two-hundred day simple moving average of $64.90. The company has a current ratio of 10.73, a quick ratio of 10.73 and a debt-to-equity ratio of 0.15. Innovative Industrial Properties has a twelve month low of $45.44 and a twelve month high of $138.35.

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 up $0.01 during mid-day trading on Tuesday, reaching $0.37. The stock had a trading volume of 13,724,571 shares, compared to its average volume of 29,481,894. The firm has a market cap of $371.40 million, a PE ratio of -0.35 and a beta of 1.83. The firm has a 50 day simple moving average of $0.44 and a two-hundred day simple moving average of $0.78. The company has a current ratio of 2.62, a quick ratio of 1.61 and a debt-to-equity ratio of 0.12. Tilray Brands has a twelve month low of $0.35 and a twelve month high of $2.15.

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 up $0.03 during trading hours on Tuesday, reaching $1.22. 3,830,039 shares of the company’s stock were exchanged, compared to its average volume of 6,144,829. The company’s 50-day moving average is $1.42 and its two-hundred day moving average is $1.73. Canopy Growth has a one year low of $0.77 and a one year high of $8.65. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.10 and a current ratio of 3.12. The company has a market capitalization of $223.40 million, a price-to-earnings ratio of -0.30 and a beta of 0.75.