5 Marijuana Stocks Reddit is Buying Amid New Federal Marijuana Legalization Bill

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1. Tilray, Inc. (NASDAQ: TLRY)

Number of Hedge Fund Holders: 21    

Tilray, Inc. (NASDAQ: TLRY) is ranked first on our list of 10 marijuana stocks Reddit is buying amid new federal marijuana legalization bill. The company’s shares have offered investors returns exceeding 89% over the course of the past twelve months. The firm operates as a pharma company focused on cannabis-related products. It was founded in 2013. The firm is expanding internationally, with a German subsidiary of the company completing the first marijunana harvest for distribution on July 7. 

On July 13, Tilray, Inc. (NASDAQ: TLRY) CEO Irwin Simon said that he expected the United States to legalize cannabis at a federal level within the next two years. Talking to news platform CNBC, Simon added that more than 90% of voters wanted the government to legalise cannabis. 

At the end of the first quarter of 2021, 21 hedge funds in the database of Insider Monkey held stakes worth $257 million in Tilray, Inc. (NASDAQ: TLRY), up from 17 in the previous quarter worth $47 million.

You can also take a peek at 13 Best Hemp Stocks to Buy Now and Billionaire Dan Loeb’s Top 10 Stock Picks.

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