Top 5 Marijuana Stocks to Invest In Right Now

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In this article, we discuss the top 5 marijuana stocks to invest in right now. If you want to read our detailed analysis of the cannabis industry, go directly to Top 10 Marijuana Stocks to Invest In Right Now.

5. Tilray, Inc. (NASDAQ:TLRY)

Stock Price as of April 22, 2022: $5.24

Tilray, Inc. (NASDAQ:TLRY) is a multinational pharmaceutical, cannabis-lifestyle, and consumer packaged products firm based in New York City, New York. 

Tilray, Inc. (NASDAQ:TLRY) reported a net income of $6 million in the second quarter of the fiscal year 2022, up from a net loss of $89 million in the previous quarter. Another financial report from the firm in 2021 stated that there is a 28% in gross profit to $123.2 million compared to $96.1 million in 2020.

In March, Tilray, Inc. (NASDAQ:TLRY) also announced that they planned commercial and financial collaboration agreements with HEXO Corp. (NASDAQ:HEXO). The planned partnership is expected to bring together Canada’s top two cannabis market share leaders.

Canaccord analyst Matt Bottomley raised Tilray, Inc. (NASDAQ:TLRY) to ‘Buy’ from ‘Hold’ with a $9 price objective after the business and HEXO Corp. (NASDAQ:HEXO) announced a prospective arrangement that involves both a financial and marketing relationship. Bottomley believes that the planned commercial agreement will result in enhanced product breadth, financial synergies, and leveraged innovation for both.

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