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Cannabis Stocks Worth Watching - August 16th

Tilray Brands logo with Medical background

Key Points

  • Tilray Brands, Indivior, and Turning Point Brands are highlighted as top cannabis stocks to watch due to their high trading volumes and potential for growth in the expanding cannabis market.
  • Tilray Brands has seen a significant 55% increase in its stock value this month despite recent trading volatility, with shares currently around $1.03.
  • Indivior's stock has reached a 52-week high of $23.55, reflecting its focus on developing medications for opioid dependence and related disorders.
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Tilray Brands, Indivior, and Turning Point 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 cultivation, processing, distribution and sale of medical or recreational marijuana, as well as firms providing ancillary products and services (such as growing equipment, software or testing laboratories) to the legal cannabis industry. Investing in these stocks offers exposure to a rapidly growing market but carries unique risks including shifting regulations, federal legality concerns and high price volatility. These companies had the highest dollar trading volume of any Cannabis stocks within the last several days.

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 $0.15 on Friday, hitting $1.03. 88,738,522 shares of the company's stock were exchanged, compared to its average volume of 75,635,760. The stock has a 50-day moving average of $0.59 and a 200-day moving average of $0.61. The company has a current ratio of 2.46, a quick ratio of 1.49 and a debt-to-equity ratio of 0.20. Tilray Brands has a 52 week low of $0.35 and a 52 week high of $1.97. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -0.45 and a beta of 1.85.

Read Our Latest Research Report on TLRY

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 $0.29 on Friday, hitting $23.46. 1,559,768 shares of the company's stock were exchanged, compared to its average volume of 4,491,097. The stock has a 50-day moving average of $16.79 and a 200-day moving average of $12.62. Indivior has a 52 week low of $7.33 and a 52 week high of $23.55.

Read Our Latest Research Report on INDV

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.

NYSE TPB traded down $0.84 on Friday, hitting $98.50. 340,606 shares of the company's stock were exchanged, compared to its average volume of 452,670. The stock has a 50-day moving average of $79.64 and a 200-day moving average of $69.84. The company has a current ratio of 4.22, a quick ratio of 2.64 and a debt-to-equity ratio of 1.30. Turning Point Brands has a 52 week low of $38.08 and a 52 week high of $102.90. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 41.21 and a beta of 0.66.

Read Our Latest Research Report on TPB

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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