Best Cannabis Stocks To Follow Now - May 23rd

Canopy Growth, Gibraltar Industries, Indivior, Tilray, and Incannex Healthcare 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 and sale of cannabis and related products. Investing in these stocks allows people to gain exposure to the growing legal marijuana market, though they can be volatile due to shifting regulations and market dynamics. These companies had the highest dollar trading volume of any Cannabis stocks within the last several days.

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 CGC traded down $0.12 during mid-day trading on Friday, hitting $1.82. 4,993,673 shares of the company traded hands, compared to its average volume of 5,804,987. Canopy Growth has a 1-year low of $0.77 and a 1-year high of $10.04. The company has a quick ratio of 2.58, a current ratio of 3.52 and a debt-to-equity ratio of 0.74. The business has a 50 day moving average of $1.21 and a 200 day moving average of $2.14. The company has a market capitalization of $333.71 million, a PE ratio of -0.48 and a beta of 0.79.

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Gibraltar Industries (ROCK)

Gibraltar Industries, Inc. manufactures and provides products and services for the renewable energy, residential, agtech, and infrastructure markets in the United States and internationally. It operates through four segments: Renewables, Residential, Agtech, and Infrastructure. The Renewables segment designs, engineers, manufactures, and installs solar racking and electrical balance of systems for commercial and distributed generation scale solar installations.

NASDAQ:ROCK traded down $1.09 on Friday, hitting $58.42. The stock had a trading volume of 79,075 shares, compared to its average volume of 227,825. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 13.10 and a beta of 1.30. Gibraltar Industries has a 1-year low of $48.96 and a 1-year high of $81.90. The company has a fifty day moving average price of $57.10 and a two-hundred day moving average price of $62.05.

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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 $0.02 on Friday, hitting $11.23. 388,890 shares of the company were exchanged, compared to its average volume of 1,012,024. Indivior has a twelve month low of $7.33 and a twelve month high of $18.59. The company has a market cap of $1.55 billion, a price-to-earnings ratio of -32.11 and a beta of 0.98. The firm has a 50-day moving average price of $10.24 and a two-hundred day moving average price of $10.68.

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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 $0.01 during trading hours on Friday, reaching $0.43. 9,235,641 shares of the company's stock were exchanged, compared to its average volume of 28,142,401. The company has a 50-day moving average of $0.52 and a 200 day moving average of $0.93. The firm has a market capitalization of $435.81 million, a price-to-earnings ratio of -1.44 and a beta of 1.95. The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10. Tilray has a 1-year low of $0.41 and a 1-year high of $2.15.

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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 IXHL traded up $0.02 during trading hours on Friday, hitting $0.23. The stock had a trading volume of 14,906,038 shares, compared to its average volume of 10,212,844. The company has a debt-to-equity ratio of 2.47, a quick ratio of 1.65 and a current ratio of 1.80. Incannex Healthcare has a 12-month low of $0.08 and a 12-month high of $3.55. The company's fifty day simple moving average is $0.50 and its 200 day simple moving average is $1.33. The firm has a market cap of $4.02 million, a P/E ratio of -0.16 and a beta of 7.67.

Read Our Latest Research Report on IXHL