12 Best WallStreetBets Stocks To Buy Now

Published on April 4, 2023 at 10:59 am by Omer Farooq in Hedge Funds, News

In this article, we will take a look at the 12 best WallStreetBets stocks to buy now, according to hedge funds. If you want to explore similar stocks, you can also take a look at 5 Best WallStreetBets Stocks To Buy Now.

Retail investors are showing cautious optimism for the stock market. According to a survey by Finimize, 68% of investors polled are expecting the global stock market to be higher in a year. However, in the face of macro uncertainties, such as inflation and a banking crisis, retail investors are becoming more risk-averse. According to Finimize, over 58% of investors plan to reduce their risk exposure over the next quarter. Moreover, 84% of investors plan to invest in stocks, up from 73% in the preceding quarter.

Analyst Says Retail Investors are “Taking Their Foot Off The Gas”

On March 25 Finimize’s Head Analyst, Carl Hazeley, appeared in an interview on Yahoo Finance Live where he talked about current investor sentiment and his outlook for retail investors. Hazeley noted that retail investors and institutional investors are both taking a similar risk-averse approach amid macro uncertainty and a global banking crisis.

Hazeley said that retail investors are currently “taking some risk off the table, and taking their foot off the gas”. The analyst noted that roughly 64% of retail investors are currently holding onto cash and are looking to invest it over the next 12 months, as the market situation gets clearer.

Hazeley also talked about meme stocks and noted that retail investors have become more cautious recently and have redirected their focus to stocks of companies with strong fundamentals. Finimize’s survey shows that in Q1 2023 5% of investors invested in meme stocks, down from 15% in the previous quarter. Here are some comments from Carl Hazeley:

“But that makes sense in the context of the uncertainty that’s out there right now and people have taken their foot off the gas and risk off the table. In that, retail investors are buying fewer single stocks because of them taking risk off the table. They’re (retail investors) looking more towards ETFs when they are investing, and they’re looking more closely at fundamentals.”

Hazeley also pointed out some of the top picks of retail investors currently, one of which is Apple Inc. (NASDAQ:AAPL). Another area of the market that is seeing increased interest from retail investors is big tech, which includes Meta Platforms, Inc. (NASDAQ:META) and Microsoft Corporation (NASDAQ:MSFT). Hazeley noted that big tech is an area of the market where we are seeing cost cutting and an increased focus on profitability, which is attracting retail investors’ interest.

Our Methodology

To determine the 12 best WallStreetBets Stocks to buy now, we scoured through posts and comments on subreddit r/wallstreetbets posted throughout March. We identified the 30 most mentioned stocks on WallStreetBets and then sourced the hedge fund sentiment for each of them from Insider Monkey’s database of over 900 hedge funds. We narrowed down our selection to 12 stocks that were the most widely held by institutional investors, and ranked them in ascending order of the number of hedge funds that have stakes in them.

Best WallStreetBets Stocks To Buy Now

12. Palantir Technologies Inc. (NYSE:PLTR)

Number of Hedge Fund Holders: 28

Palantir Technologies Inc. (NYSE:PLTR) has returned 32.24% to investors year to date, as of March 31. On February 13, the company reported earnings for the fiscal fourth quarter of 2022. Palantir Technologies Inc. (NYSE:PLTR) generated a revenue of $502.62 million, up 17.50% year over year, and outperformed consensus by $3.65 million. The company reported an EPS of $0.04 and beat EPS estimates by $0.01. Palantir Technologies Inc. (NYSE:PLTR) is one of the best WallStreetBets stocks to buy now, according to hedge funds.

On March 1, DA Davidson started coverage of Palantir Technologies Inc. (NYSE:PLTR) with a Neutral rating and an $8 price target.

At the end of Q4 2022, 28 hedge funds were long Palantir Technologies Inc. (NYSE:PLTR) and disclosed collective stakes of $463 million in the company. Of those, D E Shaw was the largest investor in the company and held a position worth $81 million.

11. Devon Energy Corporation (NYSE:DVN)

Number of Hedge Fund Holders: 55

Devon Energy Corporation (NYSE:DVN) is placed eleventh on our list of the best WallStreetBets stocks to buy now. Redditors on WallStreetBets have been talking about this stock lately. As of March 31, Devon Energy Corporation (NYSE:DVN) is trading at a PE multiple of 5x and is offering a forward dividend yield of 10%.

This March, Mizuho analyst Nitin Kumar updated his price target on Devon Energy Corporation (NYSE:DVN) to $71 from $82 and maintained a Buy rating on the shares.

At the end of the fourth quarter of 2022, 55 hedge funds were bullish on Devon Energy Corporation (NYSE:DVN) and disclosed positions worth $823.5 million in the company. As of December 31, Yacktman Asset Management is the leading stockholder in the company and has disclosed a position worth $172.5 million.

10. Block, Inc. (NYSE:SQ)

Number of Hedge Fund Holders: 70

This March, BofA analyst Jason Kupferberg reiterated a Buy rating on Block, Inc. (NYSE:SQ) and his $96 price target on the shares. The stock has been trending on WallStreetBets and is placed on our list of the best WallStreetBets stocks to buy now. As of March 31, Block, Inc. (NYSE:SQ) has gained 23.07% over the past 6 months.

Block, Inc. (NYSE:SQ) was held by 70 hedge funds at the close of Q4 2022. These funds disclosed collective stakes worth $4.25 billion in the company. As of December 31, ARK Investment Management is the most prominent stockholder in the company and has a position worth $565.7 million.

In addition to Block, Inc. (NYSE:SQ), other stocks that WallStreetBets’ investors have been talking about lately include Apple Inc. (NASDAQ:AAPL), Meta Platforms, Inc. (NASDAQ:META), and Microsoft Corporation (NASDAQ:MSFT).

9. Occidental Petroleum Corporation (NYSE:OXY)

Number of Hedge Fund Holders: 71

71 hedge funds disclosed having positions in Occidental Petroleum Corporation (NYSE:OXY) at the end of Q4 2022. The total value of these hedge funds’ stakes in the company amounted to $16.6 billion. As of December 31, Berkshire Hathaway is the top shareholder in the company and holds a position worth $12.2 billion.

Redditors of WallStreetBets are talking about Occidental Petroleum Corporation (NYSE:OXY). As of March 31, the stock has gained 8.03% over the past 12 months and is offering a forward dividend yield of 1.15%.

On March 31, Raymond James analyst John Freeman updated his price target on Occidental Petroleum Corporation (NYSE:OXY) to $75 from $80 and marinated a Strong Buy rating on the shares.

Here is what Smead Capital Management had to say about Occidental Petroleum Corporation in its Q3 2022 investor letter:

“Our top-performing stocks in the quarter includes Occidental Petroleum (NYSE:OXY). Oil and gas have been the best game in the stock market town this year and it was a pleasant surprise to see home builders pick up even with dour news on interest rates and the economy. For the first three quarters of the year, we should change the name of our fund to the Jed Clampett Fund. Occidental Petroleum (NYSE:OXY), was one of the standouts. Up through the bear market came a “bubblin’ crude!”

8. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 91

Tesla, Inc. (NASDAQ:TSLA) is one of the best WallStreetBets stocks to buy now. The stock has returned 91.91% to investors year to date, as of March 31. This March, Morgan Stanley maintained an Overweight rating and its $220 price target on Tesla, Inc. (NASDAQ:TSLA).

At the end of Q4 2022, 91 hedge funds were long Tesla, Inc. (NASDAQ:TSLA) and held positions worth $5.93 billion in the company. Of those, Citadel Investment Group was the largest shareholder in the company and held a position worth $926.2 million.

Some of the most trending stocks on WallStreetBets right now that are also popular among elite hedge funds include Tesla, Inc. (NASDAQ:TSLA), Apple Inc. (NASDAQ:AAPL), Meta Platforms, Inc. (NASDAQ:META), and Microsoft Corporation (NASDAQ:MSFT).

7. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Number of Hedge Fund Holders: 97

At the close of Q4 2022, Advanced Micro Devices, Inc. (NASDAQ:AMD) was spotted on 97 hedge funds’ portfolios. These funds held positions worth $5.70 billion in the company. As of December 31, Citadel Investment Group is the leading shareholder in Advanced Micro Devices, Inc. (NASDAQ:AMD) and has a stake worth $424.7 million.

On March 30, Wells Fargo analyst Aaron Rakers raised his price target on Advanced Micro Devices, Inc. (NASDAQ:AMD) to $120 from $85 and reiterated an Overweight rating on the shares.

As of March 31, Advanced Micro Devices, Inc. (NASDAQ:AMD) has gained 48.25% over the past 6 months. The stock is trading on WallStreetBets and is one of the best WallStreetBets stocks to buy now.

Here is what L1 Capital International had to say about Advanced Micro Devices, Inc. (NASDAQ:AMD) in its third-quarter 2022 investor letter:

“The share price of Advanced Micro Devices, Inc. (NASDAQ:AMD) was weak during the quarter and weakened further in early October when the pre-announced revenue was significantly below prior guidance, reflecting an acute slowdown in the PC market. Data centre related revenue grew strongly, albeit below our expectations, while gaming and embedded revenue was in line with our base case.

Geopolitical risks have increased for the semiconductor sector, with the U.S. Government announcing restrictions on the sale of certain technologies to China. Despite near term headwinds, AMD is well positioned for the medium term, with a technology lead over Intel in servers for data centres and rapidly gaining share in the PC/notebook sectors. Its gaming and embedded applications continue to grow strongly. AMD is a very capital light business, with manufacturing outsourced. After expending nearly $5b on research and development, AMD generates around $5b of free cashflow. With a net cash balance sheet, we expect management will accelerate buyback activity at a share price well below fair value.

The share price of our more cyclical businesses, in particularly the building products companies which have exposure to the U.S. residential, repair and renovation and infrastructure sectors, were broadly flat for the quarter. Rapidly escalating mortgage rates and rapidly reducing affordability will have a pronounced negative effect on near term new residential construction activity. We believe these cyclical pressures are well understood and are more than reflected in current share prices. Overall, we strongly believe share prices are overly reflecting near-term challenges and our portfolio of companies are now meaningfully undervalued.”

6. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 106

At the end of Q4 2022, 106 hedge funds were long NVIDIA Corporation (NASDAQ:NVDA) and disclosed stakes worth $6.08 billion in the company. Of those, Matrix Capital Management was the largest investor in the company and disclosed a position worth $741 million.

NVIDIA Corporation (NASDAQ:NVDA) is attracting retail investors’ interest. The stock has gained 122% over the past 6 months, as of March 31. NVIDIA Corporation (NASDAQ:NVDA) is placed sixth on our list of the best WallStreetBets stocks to buy now.

On March 30, Tigress Financial raised its price target on NVIDIA Corporation (NASDAQ:NVDA) to $320 from $250 and maintained a Buy rating on the shares.

Here is what ClearBridge Investments had to say about NVIDIA Corporation (NASDAQ:NVDA) in its Q4 2022 investor letter:

“Promoting diversification and managing risk continue to guide our transaction activity, with a focus on the earnings trajectory of existing and potential holdings leading to our most recent moves. We are directing our research efforts to identifying names that are closer to the bottom than the top in terms of earnings and valuations, adding to our positions in ASML, the leading supplier of high-end production equipment to chip makers, and NVIDIA Corporation (NASDAQ:NVDA), whose valuation has washed out due to weakness in gaming and crypto mining as well as slowing enterprise spending.”

Click to continue reading and see 5 Best WallStreetBets Stocks To Buy Now.

AI Fire Sale: Insider Monkey’s #1 AI Stock Pick Is On A Steep Discount

Published on April 11, 2024 at by Inan Dogan, PhD

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

The whispers are turning into roars.

Artificial intelligence isn’t science fiction anymore.

It’s the revolution reshaping every industry on the planet.

From driverless cars to medical breakthroughs, AI is on the cusp of a global explosion, and savvy investors stand to reap the rewards.

Here’s why this is the prime moment to jump on the AI bandwagon:

Exponential Growth on the Horizon: Forget linear growth – AI is poised for a hockey stick trajectory.

Imagine every sector, from healthcare to finance, infused with superhuman intelligence.

We’re talking disease prediction, hyper-personalized marketing, and automated logistics that streamline everything.

This isn’t a maybe – it’s an inevitability.

Early investors will be the ones positioned to ride the wave of this technological tsunami.

Ground Floor Opportunity: Remember the early days of the internet?

Those who saw the potential of tech giants back then are sitting pretty today.

AI is at a similar inflection point.

We’re not talking about established players – we’re talking about nimble startups with groundbreaking ideas and the potential to become the next Google or Amazon.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

So, buckle up and get ready for the ride of your investment life!

Act Now and Unlock a Potential 10,000% Return: This AI Stock is a Diamond in the Rough (But Our Help is Key!)

The AI revolution is upon us, and savvy investors stand to make a fortune.

But with so many choices, how do you find the hidden gem – the company poised for explosive growth?

That’s where our expertise comes in.

We’ve got the answer, but there’s a twist…

Imagine an AI company so groundbreaking, so far ahead of the curve, that even if its stock price quadrupled today, it would still be considered ridiculously cheap.

That’s the potential you’re looking at. This isn’t just about a decent return – we’re talking about a 10,000% gain over the next decade!

Our research team has identified a hidden gem – an AI company with cutting-edge technology, massive potential, and a current stock price that screams opportunity.

This company boasts the most advanced technology in the AI sector, putting them leagues ahead of competitors.

It’s like having a race car on a go-kart track.

They have a strong possibility of cornering entire markets, becoming the undisputed leader in their field.

Here’s the catch (it’s a good one): To uncover this sleeping giant, you’ll need our exclusive intel.

We want to make sure none of our valued readers miss out on this groundbreaking opportunity!

That’s why we’re slashing the price of our Premium Readership Newsletter by a whopping 75%.

For a ridiculously low price of just $24, you can unlock a year’s worth of in-depth investment research and exclusive insights – that’s less than a single restaurant meal!

Here’s why this is a deal you can’t afford to pass up:

The Name of the Game-Changing AI Stock: Our in-depth report dives deep into our #1 AI stock’s groundbreaking technology and massive growth potential.
Ad-Free Browsing: Enjoy a year of investment research free from distracting banner and pop-up ads, allowing you to focus on uncovering the next big opportunity.
Lifetime Money-Back Guarantee: If you’re not absolutely satisfied with our service, we’ll provide a full refund ANYTIME, no questions asked.

Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

Head over to our website and subscribe to our Premium Readership Newsletter for just $24.
Enjoy a year of ad-free browsing, exclusive access to our in-depth report on the revolutionary AI company, and the upcoming issues of our Premium Readership Newsletter over the next 12 months.
Sit back, relax, and know that you’re backed by our ironclad lifetime money-back guarantee.

Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future!

Subscribe Now!

Insanely Accurate Timing Model Says Bitcoin is Going to $100K

Published on May 1, 2024 at by Insider Monkey Staff

You see, there is a phenomenon happening right now that’s never been seen before in the crypto market.

Not just one – but three extremely bullish signals are going off …

At almost the exact same time.

We predict that this convergence of events is going to have a massive effect on crypto prices.

Far beyond the gains we’ve seen over the last couple of months.

Because as we’ll show you over the next few moments…

Each of these bullish events on its own is enough to drive Bitcoin and other cryptos to new highs.

But when all three come together at the same time, as they are expected to over the next few weeks.

It could mean a crypto bull market of unprecedented proportions.

Even bigger than previous bull markets where select coins brought back returns like:

– 2,001%

– 5,400%

– 10,200%

– 23,400%

Our special guest today, Juan Villaverde, says the recent run up in the price of Bitcoin, Ethereum and a handful of other coins is just a preview of what’s to come.

He believes once-in-a-lifetime crypto gains are in front us …

And it’s because of this great convergence of bullish events happening all at the same time.

In the next few weeks …

Maybe even sooner.

Click to continue reading…

Insider Monkey Ads

Markets

Insider Trading

Hedge Funds

Retirement

Opinion

Log In

Sign Up