12 Best Long-Term Penny Stocks to Buy According to Hedge Funds

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5. Tilray Brands, Inc. (NASDAQ:TLRY)

Stock Price: $1.33

5-Year Sales Growth: 25.65%

Number of Hedge Fund Holders: 16

Tilray Brands, Inc. (NASDAQ:TLRY) is a diverse company that operates in several areas related to cannabis and consumer products. It operates through four main business segments including Cannabis, Distribution, Beverage Alcohol, and Wellness products. In 2023, Cannabis used to be the majority revenue-generating segment for the company contributing around 40% to the total sales. However, in 2024, management completed the acquisition of eight beer and beverage brands from AB InBev and another four craft beer brands from Molson Coors – Hop Valley Brewing Company, Terrapin Beer Co., Revolver Brewing, and Atwater Brewery.

These acquisitions have turned out to be profitable for the company as its alcohol business now accounts for 28% of its revenue compared to 13% a year ago. This growth has not affected its cannabis leadership across Europe and North America as during the fiscal first quarter of 2025, Tilray Brands, Inc. (NASDAQ:TLRY) reported $200 million in net revenue, indicating a 13% increase year-over-year. The beverage segment took the lead and grew 132% during the same time. It is one of the best long-term penny stocks to buy according to hedge funds.

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