Cannabis Stocks To Keep An Eye On – July 16th

Incannex Healthcare, Indivior, and Tilray Brands are the three Cannabis stocks to watch today, according to MarketBeat’s stock screener tool. Cannabis stocks are shares of publicly traded companies involved in the legal cannabis industry, including cultivation, processing, distribution and ancillary services. By buying these stocks, investors gain exposure to the financial performance and growth potential of businesses operating in both recreational and medical marijuana markets. Their value is influenced by factors such as regulatory changes, consumer demand and industry competition. 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 up $0.04 on Wednesday, reaching $0.38. The company had a trading volume of 210,568,132 shares, compared to its average volume of 35,820,352. The firm has a market capitalization of $11.18 million, a PE ratio of -0.31 and a beta of 7.47. Incannex Healthcare has a 1 year low of $0.08 and a 1 year high of $3.12. The firm has a 50-day moving average of $0.22 and a 200-day moving average of $0.86.

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.

Shares of Indivior stock traded up $0.10 on Wednesday, hitting $15.48. 840,964 shares of the company’s stock traded hands, compared to its average volume of 1,380,453. The firm’s 50-day moving average is $13.31 and its 200 day moving average is $11.43. Indivior has a 52-week low of $7.33 and a 52-week high of $15.91.

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 Tilray Brands stock traded up $0.02 on Wednesday, hitting $0.62. 13,369,653 shares of the company’s stock traded hands, compared to its average volume of 35,055,070. The firm’s 50-day moving average is $0.45 and its 200 day moving average is $0.69. Tilray Brands has a 52-week low of $0.35 and a 52-week high of $2.15. The stock has a market cap of $619.00 million, a P/E ratio of -0.59 and a beta of 1.82. The company has a quick ratio of 1.61, a current ratio of 2.62 and a debt-to-equity ratio of 0.12.