Cannabis Stocks To Watch Now – July 23rd

Incannex Healthcare, Tilray Brands, Indivior, 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, production, distribution or ancillary services of legal cannabis products. Investing in these stocks offers exposure to the rapidly evolving marijuana industry but also carries heightened volatility and regulatory risk due to shifting laws and market dynamics. 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.

Shares of NASDAQ IXHL traded up $0.21 during trading on Wednesday, hitting $1.05. 138,901,813 shares of the company traded hands, compared to its average volume of 24,378,253. The company has a 50-day moving average price of $0.24 and a 200-day moving average price of $0.82. Incannex Healthcare has a 1 year low of $0.08 and a 1 year high of $3.12. The firm has a market capitalization of $30.75 million, a P/E ratio of -0.82 and a beta of 7.47.

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.

NASDAQ:TLRY traded down $0.05 on Wednesday, reaching $0.74. The stock had a trading volume of 51,020,806 shares, compared to its average volume of 31,731,214. The stock has a market cap of $740.78 million, a P/E ratio of -0.70 and a beta of 1.82. The company has a 50-day moving average of $0.47 and a 200 day moving average of $0.67. 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 12-month low of $0.35 and a 12-month high of $2.15.

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.

INDV traded up $0.60 on Wednesday, hitting $16.78. 1,318,612 shares of the company’s stock were exchanged, compared to its average volume of 1,253,943. Indivior has a twelve month low of $7.33 and a twelve month high of $16.82. The stock has a fifty day moving average of $13.68 and a two-hundred day moving average of $11.52.

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.

Turning Point Brands stock traded up $0.56 during mid-day trading on Wednesday, hitting $78.61. The company’s stock had a trading volume of 153,199 shares, compared to its average volume of 203,233. The company has a quick ratio of 2.64, a current ratio of 4.42 and a debt-to-equity ratio of 1.44. The stock has a market capitalization of $1.41 billion, a P/E ratio of 34.47 and a beta of 0.75. Turning Point Brands has a twelve month low of $34.78 and a twelve month high of $81.25. The stock’s fifty day moving average price is $74.32 and its two-hundred day moving average price is $66.00.

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.

Shares of Canopy Growth stock traded down $0.05 during midday trading on Wednesday, reaching $1.21. 6,011,788 shares of the company’s stock traded hands, compared to its average volume of 6,659,486. The company has a market cap of $221.56 million, a price-to-earnings ratio of -0.30 and a beta of 0.73. The company’s 50 day simple moving average is $1.39 and its 200 day simple moving average is $1.50. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.10 and a current ratio of 3.12. Canopy Growth has a 52 week low of $0.77 and a 52 week high of $8.65.