Cannabis Stocks To Follow Today – March 18th

Tilray, Innovative Industrial Properties, Canopy Growth, Indivior, and Quantum Biopharma are the five Cannabis stocks to watch today, according to MarketBeat’s stock screener tool. Cannabis stocks are equity shares of publicly traded companies that are involved in the cultivation, production, distribution, or research of cannabis and its related products. These stocks are subject to market dynamics and regulatory shifts, making them a volatile investment that reflects the evolving legal and commercial landscape of the cannabis industry. These companies had the highest dollar trading volume of any Cannabis stocks within the last several days.

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 up $0.03 during trading hours on Tuesday, hitting $0.67. 24,972,869 shares of the stock were exchanged, compared to its average volume of 31,420,736. The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average of $0.96 and a 200 day moving average of $1.33. Tilray has a 12-month low of $0.58 and a 12-month high of $2.97. The company has a market cap of $628.23 million, a price-to-earnings ratio of -2.24 and a beta of 2.13.

Innovative Industrial Properties (IIPR)

NYSE:IIPR traded up $0.47 during trading hours on Tuesday, hitting $64.68. The company’s stock had a trading volume of 208,757 shares, compared to its average volume of 237,852. Innovative Industrial Properties has a 52-week low of $62.45 and a 52-week high of $138.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 11.53 and a current ratio of 14.32. The business’s 50-day moving average is $70.50 and its two-hundred day moving average is $98.77. The company has a market capitalization of $1.83 billion, a PE ratio of 11.66 and a beta of 1.49.

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 up $0.03 during trading hours on Tuesday, reaching $1.21. The company had a trading volume of 10,058,435 shares, compared to its average volume of 8,496,431. The company has a current ratio of 3.52, a quick ratio of 2.58 and a debt-to-equity ratio of 0.74. Canopy Growth has a 12-month low of $1.05 and a 12-month high of $14.92. The firm has a 50 day simple moving average of $1.85 and a 200-day simple moving average of $3.31. The company has a market capitalization of $191.13 million, a price-to-earnings ratio of -0.32 and a beta of 0.87.

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.

Indivior stock traded down $0.29 during mid-day trading on Tuesday, reaching $9.70. The company had a trading volume of 629,914 shares, compared to its average volume of 611,680. The stock’s 50-day simple moving average is $10.60 and its 200-day simple moving average is $10.47. Indivior has a 1 year low of $7.33 and a 1 year high of $22.53. The company has a market capitalization of $1.34 billion, a P/E ratio of -27.71 and a beta of 0.82.

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.

QNTM stock traded up $0.42 during midday trading on Tuesday, hitting $7.60. 516,153 shares of the stock were exchanged, compared to its average volume of 1,152,167. Quantum Biopharma has a fifty-two week low of $2.70 and a fifty-two week high of $18.00. The stock has a market capitalization of $14.59 million, a PE ratio of -0.49 and a beta of 0.37. The stock’s 50-day moving average is $5.61.