5 Popular Penny Stocks On Robinhood

2. Tilray, Inc. (NASDAQ:TLRY)

Share Price as of October 27: $3.58

Number of Hedge Fund Holders: 14

Tilray, Inc. (NASDAQ:TLRY) is a leading global provider of cannabis and cannabinoids, serving consumers in Canada, the United States, Europe, the Middle East, and Africa. The company is dedicated to advancing the science of medical cannabis and to making it accessible to patients in need around the world. Tilray, Inc. (NASDAQ:TLRY) has a strong portfolio of products and brands and is well-positioned to capitalize on the growing global demand for medical cannabis and CBD products. The stock ranks high among the best penny stocks to buy now.

Tilray, Inc. (NASDAQ:TLRY) is creating a lot of buzz on Wall Street and has come to the attention of analysts. Over the past 3 months, Tilray, Inc. (NASDAQ:TLRY) has received 2 Buy ratings and 4 Hold ratings from Wall Street analysts. As of October 27, the stock has a 3-month average trading volume of 24 million.

At the close of Q2 2022, 14 hedge funds were long Tilray, Inc. (NASDAQ:TLRY) and held stakes worth $12.5 million in the company. Of those, Citadel Investment Group was the most prominent investor in the company and disclosed a stake of $5.3 million.