Tilray - Institutional ownership soars while share price dip
Hedge Funds And Institutional Investors Are Buying These Cannabis Stocks
Benzinga Mar. 9, 2023, 10:55 AM
Because most public cannabis companies are still largely in growth phases, higher interest rates have hit their stocks hard. But, as share prices come down, institutional investors and hedge funds have started to take stabs at several different companies. Here are a few cannabis stocks the big players have been buying.
Tilray Inc (NASDAQ:TLRY), the Canadian cannabis company focused on supplying medical marijuana to hospitals, pharmacies and other customers. Because Tilray is focused on the medical side, it may make it easier for institutional investors to hop in. According to Whale Wisdom, Aristeia Capital added more than 9 million Tilray shares last quarter. The fund now holds more than $30 million worth of Tilray stock.