7 Best CBD Stocks To Invest In Right Now

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

Number of Hedge Fund Holders: 16

The New York-based Tilray Brands, Inc. (NASDAQ:TLRY) has a highly diversified global portfolio with operations in Canada, the United States, Europe, Australia, and Latin America. The company has businesses in medical adult-use cannabis, beverages, spirits, wellness products, and a vast array of consumer-connected lifestyle brands.

The core business of Tilray Brands, Inc. (NASDAQ:TLRY) is cannabis and it is the number one cannabis operator in Canada, the leading medical cannabis business across Europe, and the top branded hemp business in North America. The company has further strengthened its presence in Europe recently by winning a tender from Luxembourg’s Ministry of Health and Social Security to supply medical cannabis flower to the country.

Last year, Tilray Brands, Inc. (NASDAQ:TLRY) also entered the lucrative US THC beverage market with a range of Delta-9 THC mocktails and seltzers through its newly formed Tilray Alternative Beverages business unit. The company is hoping to dominate the rapidly ballooning market for cannabis-infused drinks and ended 2024 with the release of a new line of Delta-9 THC-infused mocktails through its Herb & Bloom brand.

Due to the slower-than-expected marijuana legalization policies in the US and the EU, and the saturation of the cannabis market in Canada, Tilray Brands, Inc. (NASDAQ:TLRY) is following an aggressive diversification strategy and even forayed into alcohol last year with the acquisition of several craft breweries. The move seems to be paying off and Tilray’s alcohol business now accounts for 28% of its revenue, whereas 31% came from cannabis. The company also recently moved into the rapidly growing non-alcoholic beer segment with the launch of several NA craft brews through its Montauk Brewing Co. and Runner’s High brands.

Tilray Brands, Inc. (NASDAQ:TLRY) ended its Q1 2025 with $287.9 million in long-term debt and $280.1 million in cash, equivalents, and short-term investments. The company’s financial strength enables it to pursue new opportunities and capitalize on emerging trends in the market.

At the end of Q3 2024, shares of Tilray Brands, Inc. (NASDAQ:TLRY) were held by 16 hedge funds in the IM database with a total stake value of $20.62 million, up 36% from the previous quarter.