Cannabis Stocks To Follow Today – May 14th

Incannex Healthcare, InMed Pharmaceuticals, Turning Point Brands, Innovative Industrial Properties, and Tilray 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 cultivate, process, distribute or provide ancillary services for marijuana and hemp products. By buying these stocks, investors gain exposure to an industry driven by expanding legalization, shifting regulations and growing consumer demand. Because the market is still maturing and subject to regulatory changes, 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.

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 $0.65 during mid-day trading on Wednesday, reaching $0.73. 1,029,311,429 shares of the company’s stock were exchanged, compared to its average volume of 4,530,722. The business’s fifty day simple moving average is $0.57 and its 200 day simple moving average is $1.43. The company has a quick ratio of 1.65, a current ratio of 1.80 and a debt-to-equity ratio of 2.47. The firm has a market capitalization of $13.07 million, a PE ratio of -0.53 and a beta of 7.67. Incannex Healthcare has a one year low of $0.08 and a one year high of $3.55.

InMed Pharmaceuticals (INM)

InMed Pharmaceuticals Inc., a clinical stage pharmaceutical company, develops a pipeline of prescription-based products. The company operates through two segments, the InMed and the BayMedica. The InMed segment researches and develops cannabinoid-based pharmaceuticals products. The BayMedica segment develops proprietary manufacturing technologies to produce and sell rare cannabinoids for the health and wellness industry.

NASDAQ:INM traded up $0.60 during trading hours on Wednesday, reaching $3.22. The stock had a trading volume of 1,995,834 shares, compared to its average volume of 238,270. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.44 and a current ratio of 3.05. The stock has a 50 day simple moving average of $2.63 and a 200 day simple moving average of $3.68. InMed Pharmaceuticals has a 12-month low of $1.72 and a 12-month high of $15.70. The stock has a market cap of $3.89 million, a P/E ratio of -0.23 and a beta of 0.21.

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 up $0.97 during midday trading on Wednesday, hitting $71.06. 52,129 shares of the company traded hands, compared to its average volume of 218,425. The stock has a 50-day moving average of $60.21 and a 200-day moving average of $60.39. Turning Point Brands has a one year low of $30.61 and a one year high of $81.05. The firm has a market cap of $1.27 billion, a P/E ratio of 28.20 and a beta of 0.69. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78.

Innovative Industrial Properties (IIPR)

IIPR traded up $0.57 on Wednesday, reaching $56.04. The company had a trading volume of 59,268 shares, compared to its average volume of 270,794. The business has a 50 day simple moving average of $57.27 and a 200 day simple moving average of $76.70. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 10.13 and a beta of 1.73. The company has a debt-to-equity ratio of 0.16, a quick ratio of 11.53 and a current ratio of 14.32. Innovative Industrial Properties has a 52-week low of $45.44 and a 52-week high of $138.35.

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.

TLRY traded down $0.00 during trading on Wednesday, reaching $0.45. The stock had a trading volume of 5,207,750 shares, compared to its average volume of 28,479,848. The stock has a market cap of $448.90 million, a PE ratio of -1.49 and a beta of 1.95. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54. Tilray has a one year low of $0.41 and a one year high of $2.31. The business has a 50-day moving average of $0.55 and a 200-day moving average of $0.99.