As of May 28th, several cannabis stocks have garnered attention from investors, according to MarketBeat’s stock screener tool. The companies to watch include Incannex Healthcare, Tilray, Canopy Growth, Indivior, Cronos Group, IM Cannabis, and Gibraltar Industries. These stocks represent publicly traded companies involved in various aspects of the cannabis industry, from cultivation to distribution. With increasing legalization of both medical and recreational cannabis in different regions, investors are keen to explore the market’s growth potential. However, cannabis stocks can be more volatile and subject to regulatory risks when compared to established sectors.
Incannex Healthcare focuses on developing medicinal cannabinoid and psychedelic products. Its research targets conditions such as obstructive sleep apnea, traumatic brain injury, lung inflammation, and anxiety disorders. On Wednesday, IXHL saw its shares dip by $0.05 to $0.23, with a trading volume of over 30 million shares, far surpassing its average of 11 million. The stock has fluctuated between $0.08 and $3.55 over the past year and currently has a market capitalization of $6.62 million.
Tilray, Inc. engages in the cultivation and distribution of medical cannabis across several countries, including Canada and Australia. On Wednesday, shares of TLRY increased by $0.02 to reach $0.46, with a trading volume of 14 million shares. The stock has a one-year range of $0.41 to $2.15 and a market cap of $465 million.
Canopy Growth Corporation produces and sells cannabis and hemp products primarily in North America and Europe. The stock rose by $0.06 to $1.76 on Wednesday, with a trading volume of 2.2 million shares. Over the past year, Canopy Growth shares have ranged from $0.77 to $10.04, and the company has a current market capitalization of $322.68 million.
Indivior PLC specializes in buprenorphine-based medications for opioid dependence and related disorders. Shares increased by $0.22 to $12.05, with 322,537 shares traded on Wednesday. The stock’s one-year price range is $7.33 to $18.59, reflecting a market cap of $1.66 billion.
Cronos Group Inc. cultivates and markets various cannabis products and saw its stock price increase by $0.01 to $2.01 with a trading volume of 1.78 million shares. The company has a market cap of approximately $772.74 million, with stock prices ranging between $1.60 and $2.69 over the past year.
IM Cannabis Corp. operates in the medical cannabis sector in Israel and Germany. On Wednesday, IMCC shares rose by $0.59 to $2.46, with a trading volume of nearly 1.4 million shares. The stock’s price has ranged from $1.29 to $4.49 in the past year, and the company has a market cap of $5.49 million.
Gibraltar Industries, while not exclusively a cannabis company, provides products and services relevant to the renewable energy and infrastructure sectors, including cannabis cultivation facilities. On Wednesday, shares fell by $1.06 to $59.69, with trading volume at 40,707. Gibraltar has a market cap of $1.76 billion with a one-year price range of $48.96 to $81.90.
These companies represent the dynamic landscape of the cannabis industry, showing varying degrees of growth and market interest. Investors should consider these stocks carefully, keeping in mind the potential for volatility and regulatory changes that can impact their performance.
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