11 Best Penny Stocks to Invest in Under $1

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3. Tilray Brands Inc. (NASDAQ:TLRY)

Share Price as of April 10: $0.53

Number of Hedge Fund Holders: 19

Tilray Brands Inc. (NASDAQ:TLRY) researches, cultivates, processes, and distributes medical cannabis products internationally. It has four segments: Beverage Alcohol, Cannabis, Distribution, and Wellness. It’s essentially a lifestyle consumer products company that offers medical and adult-use cannabis, pharmaceutical & wellness products, beverage alcohol, hemp-based food, and other wellness products.

In FQ3 2025, the company’s cannabis segment generated $57 million in net revenue which was accompanied by an increase in gross margin. It reached 41%, which is the highest it’s been in nearly two years. This was fueled by growth in international markets and a focus on higher-margin products in the Canadian adult-use market.

The international and Canadian medical operations in the global medical cannabis business account for about 80% of the company’s total cannabis profits, even though it represents only ~35% of total cannabis sales. In Canada, Tilray Brands Inc. (NASDAQ:TLRY) is the largest legal cannabis business by revenue. The company holds the number one market share in several categories, such as beverages, chocolate edibles, oils, capsules, and straight-edge pre-rolls.

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