Best Cannabis Stocks To Add to Your Watchlist – May 8th

Turning Point Brands, Innovative Industrial Properties, Tilray, Cronos Group, and Canopy Growth are the five Cannabis stocks to watch today, according to MarketBeat’s stock screener tool. Cannabis stocks are shares of publicly traded companies operating in the cannabis industry, including growers, processors, distributors and ancillary service providers. They offer investors a way to gain exposure to the legal marijuana market’s growth potential. Because cannabis remains federally regulated in many jurisdictions, these stocks can be more volatile and carry regulatory risk compared to other sectors. These companies had the highest dollar trading volume of any Cannabis stocks within the last several days.

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 $4.65 during trading hours on Thursday, hitting $76.35. 231,291 shares of the company’s stock traded hands, compared to its average volume of 163,127. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. The firm’s 50-day moving average is $59.72 and its 200-day moving average is $59.52. Turning Point Brands has a 52-week low of $30.61 and a 52-week high of $81.05. The company has a market capitalization of $1.36 billion, a PE ratio of 30.40 and a beta of 0.69.

Innovative Industrial Properties (IIPR)

Shares of IIPR traded up $1.71 during midday trading on Thursday, reaching $55.08. The company had a trading volume of 118,278 shares, compared to its average volume of 270,994. The firm has a 50 day simple moving average of $58.57 and a 200-day simple moving average of $79.20. The company has a quick ratio of 11.53, a current ratio of 14.32 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.54 billion, a PE ratio of 9.93 and a beta of 1.73. Innovative Industrial Properties has a 1-year low of $45.44 and a 1-year 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.

Shares of Tilray stock traded up $0.01 during mid-day trading on Thursday, hitting $0.44. The stock had a trading volume of 13,089,520 shares, compared to its average volume of 28,463,979. The firm has a market cap of $443.86 million, a P/E ratio of -1.47 and a beta of 1.95. 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 firm has a 50-day moving average of $0.57 and a two-hundred day moving average of $1.03. Tilray has a 12-month low of $0.41 and a 12-month high of $2.31.

Cronos Group (CRON)

Cronos Group Inc. operates as a cannabinoid company that engages in the cultivation, production and marketing of cannabis products in Canada, Israel, and Germany. It offers dried flower, pre-rolls, oils, vaporizers, edibles, and cannabis tinctures under the Spinach, Lord Jones, and PEACE NATURALS brands.

NASDAQ:CRON traded up $0.16 on Thursday, reaching $2.01. The company’s stock had a trading volume of 2,478,938 shares, compared to its average volume of 1,347,328. Cronos Group has a 12-month low of $1.60 and a 12-month high of $3.14. The stock has a 50 day moving average price of $1.82 and a 200 day moving average price of $1.95. The firm has a market cap of $772.74 million, a price-to-earnings ratio of -15.42, a price-to-earnings-growth ratio of 1.74 and a beta of 1.06.

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.

CGC traded up $0.04 on Thursday, hitting $1.33. The company had a trading volume of 2,598,378 shares, compared to its average volume of 6,027,573. Canopy Growth has a 1 year low of $0.77 and a 1 year high of $11.95. The firm has a market cap of $243.62 million, a P/E ratio of -0.35 and a beta of 0.79. The company’s fifty day moving average price is $1.13 and its 200 day moving average price is $2.41. The company has a current ratio of 3.52, a quick ratio of 2.58 and a debt-to-equity ratio of 0.74.