5 Best CBD Stocks To Invest In

4. Tilray, Inc. (NASDAQ:TLRY)

Number Of Hedge Fund Holders: 17

Tilray, Inc. (NASDAQ: TLRY) is a pharmaceutical company that is involved in the cannabis, CBD oil, and industrial hemp markets. Headquartered in New York City, Tilray, Inc. (NASDAQ:TLRY) also has operations in Canada, Australia, New Zealand, and Latin America, with growing facilities in Germany and Portugal.

Earlier this April, Tilray, Inc. (NASDAQ:TLRY) announced that the company had signed a definitive agreement for a commercial and financial partnership with HEXO Corp, a leader in the Canadian cannabis market space. The partnership will strengthen both company’s respective operations and set the stage for production efficiencies, which are expected to yield increased productivity and other efficiencies amid intensely-competitive market dynamics. The agreement provides that HEXO Corp will pay Tilray, Inc. (NASDAQ:TLRY) an annual fee of $18 million for advisory services with respect of cultivation, operations, and production matters.

By the end of the first quarter of 2022, 17 hedge funds held stakes in the company worth around $85.48 million. This is compared to 20 funds in the preceding quarter, with stakes worth $118 million. The company has been a leader in the cannabis market for a while now, with D.E. Shaw being one of the largest shareholders in Tilray, Inc. (NASDAQ:TLRY) owning over 1.5 million shares of the stock, valued at roughly $11.7 million.