Cannabis Stocks To Follow Now - August 5th

Key Points

• MarketBeat has identified five cannabis stocks to watch, including Indivior, Incannex Healthcare, and Tilray Brands, driven by high trading volumes and evolving regulatory frameworks.
• Indivior PLC focuses on opioid dependence treatment, noticing a significant increase in stock price to $21.39, while maintaining a market cap of $2.95 billion.
• Tilray Brands operates internationally in medical cannabis cultivation and distribution, with shares trading at $0.62 and a market capitalization of $627.05 million.

Indivior, Incannex Healthcare, Tilray Brands, Turning Point Brands, and Gibraltar Industries are the five Cannabis stocks to watch today, according to MarketBeat's stock screener tool. Cannabis stocks are shares of publicly traded companies that cultivate, process, distribute or provide services and products related to cannabis and hemp. By buying these stocks, investors gain exposure to the rapidly evolving medical, recreational and CBD markets. As an emerging asset class, cannabis stocks often experience heightened volatility driven by shifting regulations, market demand and industry expansion. These companies had the highest dollar trading volume of any Cannabis stocks within the last several days.

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.

NASDAQ:INDV traded up $0.17 on Tuesday, reaching $21.39. 1,320,338 shares of the stock traded hands, compared to its average volume of 1,734,726. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 34.37 and a beta of 0.74. Indivior has a 1-year low of $7.33 and a 1-year high of $21.73. The company's 50 day moving average is $14.85 and its 200-day moving average is $11.90.

Read Our Latest Research Report on INDV

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 Incannex Healthcare stock traded down $0.04 on Tuesday, reaching $0.41. 41,001,313 shares of the company's stock were exchanged, compared to its average volume of 56,019,859. The company has a market capitalization of $11.92 million, a P/E ratio of -0.34 and a beta of 7.66. Incannex Healthcare has a 52 week low of $0.08 and a 52 week high of $3.12. The firm's 50-day moving average is $0.38 and its two-hundred day moving average is $0.75.

Read Our Latest Research Report on IXHL

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 TLRY traded up $0.02 during trading hours on Tuesday, reaching $0.62. The stock had a trading volume of 14,546,042 shares, compared to its average volume of 35,546,277. Tilray Brands has a 12 month low of $0.35 and a 12 month high of $1.98. The firm has a 50-day simple moving average of $0.51 and a 200 day simple moving average of $0.62. The company has a current ratio of 2.46, a quick ratio of 1.49 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $627.05 million, a price-to-earnings ratio of -0.27 and a beta of 1.85.

Read Our Latest Research Report on TLRY

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.

Shares of NYSE TPB traded down $1.26 during mid-day trading on Tuesday, reaching $80.54. 105,713 shares of the company's stock were exchanged, compared to its average volume of 251,739. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 35.10 and a beta of 0.66. Turning Point Brands has a 52 week low of $34.78 and a 52 week high of $84.05. The company has a debt-to-equity ratio of 1.44, a current ratio of 4.42 and a quick ratio of 2.64. The firm has a 50-day moving average price of $75.64 and a two-hundred day moving average price of $67.49.

Read Our Latest Research Report on TPB

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.

ROCK traded down $0.17 during trading hours on Tuesday, hitting $64.27. The stock had a trading volume of 63,491 shares, compared to its average volume of 264,702. The company's fifty day simple moving average is $61.39 and its 200 day simple moving average is $60.27. Gibraltar Industries has a 1 year low of $48.96 and a 1 year high of $74.97. The stock has a market cap of $1.90 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 0.88 and a beta of 1.32.

Read Our Latest Research Report on ROCK

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