Cannabis Stocks Worth Watching - August 7th

Key Points

• Innovative Industrial Properties has a market cap of $1.30 billion and experienced significant trading activity, with 663,594 shares exchanged amid a price drop to $46.43.
• Incannex Healthcare focuses on developing medicinal cannabinoid products for various medical conditions and had a trading volume of 68,433,022 shares, reaching a price of $0.40.
• Turning Point Brands reported a market cap of $1.65 billion; its shares traded at $92.41, showing high market activity and a P/E ratio of 40.49.

Innovative Industrial Properties, Incannex Healthcare, Turning Point Brands, Indivior, and Quantum Biopharma 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, produce, distribute or provide ancillary services for cannabis and its derivatives. These companies may operate in medical, recreational or industrial hemp markets, and their performance is often influenced by changing regulations, consumer trends and market sentiment. As a result, cannabis stocks can exhibit higher volatility compared with more established industries. These companies had the highest dollar trading volume of any Cannabis stocks within the last several days.

Innovative Industrial Properties (IIPR)

Innovative Industrial Properties stock traded down $5.19 during midday trading on Thursday, hitting $46.43. 663,594 shares of the company were exchanged, compared to its average volume of 315,862. The business has a fifty day simple moving average of $55.26 and a two-hundred day simple moving average of $59.90. The company has a debt-to-equity ratio of 0.15, a quick ratio of 10.73 and a current ratio of 10.73. The firm has a market capitalization of $1.30 billion, a PE ratio of 8.97 and a beta of 1.65. Innovative Industrial Properties has a fifty-two week low of $45.44 and a fifty-two week high of $138.35.

Read Our Latest Research Report on IIPR

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.

Incannex Healthcare stock traded up $0.05 during midday trading on Thursday, reaching $0.40. The company had a trading volume of 68,433,022 shares, compared to its average volume of 56,331,191. The firm's fifty day simple moving average is $0.39 and its 200-day simple moving average is $0.74. The company has a market capitalization of $11.68 million, a P/E ratio of -0.32 and a beta of 7.67. Incannex Healthcare has a 12-month low of $0.08 and a 12-month high of $3.12.

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 TPB traded down $0.28 during mid-day trading on Thursday, reaching $92.41. The stock had a trading volume of 217,004 shares, compared to its average volume of 259,795. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 40.49 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. The business's fifty day moving average is $76.39 and its 200 day moving average is $67.93. Turning Point Brands has a 52-week low of $36.35 and a 52-week high of $94.40.

Read Our Latest Research Report on TPB

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 stock traded down $0.28 during mid-day trading on Thursday, hitting $21.72. 640,007 shares of the company were exchanged, compared to its average volume of 1,765,391. Indivior has a 12-month low of $7.33 and a 12-month high of $22.33. The business has a fifty day simple moving average of $15.45 and a 200-day simple moving average of $12.10.

Read Our Latest Research Report on INDV

Quantum Biopharma (QNTM)

Quantum Biopharma Ltd. is a biotechnology pharmaceutical research and development company, which focuses on the cultivation, process, and sale of medical cannabis. It operates through the Biotechnology and Strategic Investments segments. The Biotechnology segment is involved in the research and development of the company's three drug candidates consisting of FSD-PEA, Lucid-PSYCH, and Lucid-MS.

Shares of NASDAQ:QNTM traded down $0.28 during mid-day trading on Thursday, reaching $25.87. 282,907 shares of the company were exchanged, compared to its average volume of 1,282,422. Quantum Biopharma has a 1 year low of $2.70 and a 1 year high of $38.25. The firm's 50-day simple moving average is $20.94 and its 200 day simple moving average is $11.90. The firm has a market cap of $75.27 million, a price-to-earnings ratio of -1.62 and a beta of 0.71.

Read Our Latest Research Report on QNTM

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