Cannabis Stocks To Keep An Eye On - August 2nd

Key Points

• MarketBeat highlights seven cannabis stocks to watch, including Indivior, Incannex Healthcare, and Tilray Brands, which are involved in various aspects of the legal cannabis industry.
• Cannabis stocks often experience higher volatility due to shifting regulations and market sentiment, making them distinct investment opportunities compared to more established sectors.
• Indivior PLC has seen significant trading volume, with shares reaching $21.05, and a market capitalization of $2.90 billion, indicating strong investor interest in its opioid treatment products.

Indivior, Incannex Healthcare, Turning Point Brands, Innovative Industrial Properties, Gibraltar Industries, Tilray Brands, and Akanda are the seven 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 ancillary services related to legal cannabis products. By buying these equities, investors gain exposure to the rapidly expanding medical and recreational marijuana markets. Because the industry is still evolving under shifting regulations and market sentiment, cannabis stocks often exhibit higher volatility than more established sectors. 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.

Shares of NASDAQ:INDV traded up $0.85 during trading on Friday, hitting $21.05. 5,588,537 shares of the company were exchanged, compared to its average volume of 3,499,157. The stock has a market capitalization of $2.90 billion, a P/E ratio of 33.95 and a beta of 0.65. Indivior has a 12-month low of $7.33 and a 12-month high of $21.09. The firm's 50 day moving average price is $14.85 and its 200-day moving average price is $11.89.

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 NASDAQ:IXHL traded down $0.20 during trading on Friday, hitting $0.39. 190,789,198 shares of the company were exchanged, compared to its average volume of 209,069,792. The stock has a market capitalization of $11.35 million, a P/E ratio of -0.32 and a beta of 7.47. Incannex Healthcare has a 12-month low of $0.08 and a 12-month high of $3.12. The firm's 50 day moving average price is $0.38 and its 200-day moving average price is $0.77.

Read Our Latest Research Report on IXHL

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 $1.98 during trading on Friday, hitting $80.96. 495,470 shares of the company were exchanged, compared to its average volume of 357,837. The stock has a market capitalization of $1.45 billion, a P/E ratio of 35.51 and a beta of 0.66. The company has a debt-to-equity ratio of 1.44, a current ratio of 4.42 and a quick ratio of 2.64. Turning Point Brands has a 12-month low of $34.78 and a 12-month high of $84.05. The firm's 50 day moving average price is $75.64 and its 200-day moving average price is $67.34.

Read Our Latest Research Report on TPB

Innovative Industrial Properties (IIPR)

IIPR stock traded down $0.38 on Friday, hitting $51.32. The company's stock had a trading volume of 290,640 shares, compared to its average volume of 253,116. The firm has a 50 day moving average of $55.51 and a two-hundred day moving average of $60.21. Innovative Industrial Properties has a 1 year low of $45.44 and a 1 year high of $138.35. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 9.87 and a beta of 1.65. The company has a current ratio of 10.73, a quick ratio of 10.73 and a debt-to-equity ratio of 0.15.

Read Our Latest Research Report on IIPR

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 stock traded down $1.71 on Friday, hitting $64.32. The company's stock had a trading volume of 224,223 shares, compared to its average volume of 187,816. The firm has a 50 day moving average of $61.28 and a two-hundred day moving average of $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 price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 0.90 and a beta of 1.32.

Read Our Latest Research Report on ROCK

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.

TLRY stock traded down $0.01 on Friday, hitting $0.57. The company's stock had a trading volume of 20,437,416 shares, compared to its average volume of 47,214,824. The firm has a 50 day moving average of $0.51 and a two-hundred day moving average of $0.63. Tilray Brands has a 1 year low of $0.35 and a 1 year high of $1.98. The stock has a market cap of $572.40 million, a price-to-earnings ratio of -0.25 and a beta of 1.85. The company has a current ratio of 2.46, a quick ratio of 1.61 and a debt-to-equity ratio of 0.20.

Read Our Latest Research Report on TLRY

Akanda (AKAN)

AKAN stock traded down $0.04 on Friday, hitting $1.10. The company's stock had a trading volume of 8,275,812 shares, compared to its average volume of 58,437. The firm has a 50 day moving average of $1.30 and a two-hundred day moving average of $1.38. Akanda has a 1 year low of $0.93 and a 1 year high of $4.10.

Read Our Latest Research Report on AKAN

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