10 Best Meme Stocks to Buy Now

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1. Strategy Inc (NASDAQ:MSTR)

Share Price Upside: 192.54%

Number of Hedge Fund Holders: 43

Strategy Inc (NASDAQ:MSTR) is among the 10 best meme stocks to buy now. On February 9, Cantor Fitzgerald trimmed its price target on the stock to $192 from $213, while keeping an Overweight rating.

This follows BTIG’s adjustment on February 6, when the firm slashed its price target to $250 from $630, citing a sharp decline in bitcoin prices in the lead-up to the bitcoin treasury company’s Q4 earnings call.

However, BTIG reiterated a Buy rating on the stock. In a research note to investors, the firm noted that Strategy Inc (NASDAQ:MSTR)’s convertible debt was “extremely over-collateralized” and added that the company had about two and a half years of dollar reserves available to make preferred equity dividend payments.

Despite recent price cuts, the stock carries a Strong Buy rating and has an average share price upside of 192.54% as of the close on February 12.

Strategy Inc (NASDAQ:MSTR) reported a net loss of $42.93 per share during the fourth quarter, compared with a loss of $3.03 per share in the prior year’s period. The widening losses were driven by a volatile period for digital assets, which led to significant losses on the company’s holdings.

Strategy Inc (NASDAQ:MSTR) is the largest corporate holder of Bitcoin in the world. As of February 1, it held 713,502 bitcoins with a total cost of $54.26 billion.

While we acknowledge the potential of MSTR to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MSTR and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 Best American Defense Stocks to Buy According to Wall Street Analysts and 12 Most Profitable NASDAQ Stocks to Buy Right Now.

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