Promising Cannabis Stocks Worth Watching – June 8th

Indivior, Canopy Growth, 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, production, distribution or ancillary services of cannabis and hemp products. They tend to exhibit higher volatility and regulatory sensitivity than many other sectors, offering investors both growth potential and elevated risk. These companies had the highest dollar trading volume of any Cannabis stocks within the last several days.

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.

Shares of NASDAQ:INDV traded up $0.48 on Friday, reaching $14.07. The company’s stock had a trading volume of 1,874,165 shares, compared to its average volume of 1,080,520. Indivior has a 52-week low of $7.33 and a 52-week high of $17.09. The company has a market cap of $1.94 billion, a P/E ratio of -40.20 and a beta of 0.66. The company has a 50-day simple moving average of $10.86 and a 200 day simple moving average of $10.87.

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 NASDAQ:CGC traded up $0.33 on Friday, reaching $1.70. The company’s stock had a trading volume of 10,575,146 shares, compared to its average volume of 5,938,905. Canopy Growth has a 52-week low of $0.77 and a 52-week high of $8.65. The company has a market cap of $312.57 million, a P/E ratio of -0.45 and a beta of 0.75. The company has a 50-day simple moving average of $1.32 and a 200 day simple moving average of $1.93. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.58 and a current ratio of 3.52.

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 NYSE:TPB traded up $1.50 on Friday, reaching $76.22. The company’s stock had a trading volume of 214,637 shares, compared to its average volume of 175,578. Turning Point Brands has a 52-week low of $30.61 and a 52-week high of $81.05. The company has a market cap of $1.36 billion, a P/E ratio of 30.24 and a beta of 0.76. The company has a 50-day simple moving average of $65.54 and a 200 day simple moving average of $62.98. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21.