13 Best Get Rich Quick Stocks To Buy

Published on December 30, 2023 at 8:49 am by Usman Kabir in Hedge Funds, News

In this article, we discuss the 13 best get rich quick stocks to buy. If you want to skip our detailed analysis of these stocks, go directly to 5 Best Get Rich Quick Stocks To Buy.

There are many reasons for investors to be optimistic about the near-term future of the United States economy, especially as the central bank keeps interest rates steady and businesses begin to bounce back from the recession fears of the past two years. Retail investor activity at the stock is picking up pace yet again as interest in get rich quick schemes rises amid a flurry of activity in the technology space in anticipation of an eventual decrease in borrowing costs and venture capital interest in the high growth spaces.

Trades in penny stocks that are volatile is one such get rich quick scheme. Some of the top stocks to monitor in this context include Opendoor Technologies Inc. (NASDAQ:OPEN), Aurora Innovation, Inc. (NASDAQ:AUR), and Compass, Inc. (NYSE:COMP). Even though these companies are priced cheaper than the competition, they have explosive growth catalysts and retail investor interest. This makes them attractive for shrewd investors who want to invest in get rich quick schemes to take advantage of the recent rebound in stocks.

Robert Reffkin, the CEO of Compass, Inc. (NYSE:COMP), recently highlighted during the third quarter earnings call that his company had delivered positive free cash flow for the second quarter in a row despite a rapidly deteriorating market, as mortgage rates increased over 100 basis points to 8%. The firm grew quarterly market share 26 basis points year over year and grew principal agents by 4% year over year and 3% sequentially.

“We had above 98% principal agent retention for the quarter, which is the second highest agent retention level since we went public. We launched several new exciting features on our technology platform that improved agent productivity and led to retention and recruitment. We moved closer to achieving our goal of bringing our operating expenses down to a run rate of $900 million in the fourth quarter. And in the midst of a rapidly deteriorating market, we delivered positive free cash flow for the second quarter in a row.

We have worked hard to position Compass to be able to ride out this period of macroeconomic uncertainty and position Compass for even greater success when the market recovery begins. We are working from a position of strength. As the No. 1 brokerage by sales volume in the United States over the past two years, we have built an amazing business with the best agents serviced by a highly dedicated team of professionals at Compass that is laser-focused on delivering excellence at every level.

Although the market has not improved over the past year, Compass is a much stronger company with a lower cost base, higher principal agent retention, a revitalized post-pandemic culture, enhanced technology platform, and a larger agent-to-agent client referral network. I am proud of the fact that our team has thoughtfully and skillfully been able to reduce opex run rate by approximately $550 million since the second quarter of 2022. We said we would do it, and we did it. We expect to achieve our target 900 million opex run rate as we exit Q4 as planned.

This is more than a half billion dollars of expense cutting while still growing the number of agents, improving agent retention, and adding important new features to our technology platform. Our technology is clearly making a difference for agents. We have included a slide in our investor deck with quotes from agents who left Compass and came back and cited technology as the reason. With their permission, we have also included their phone numbers, so you can call them directly.”

Our Methodology

The companies that are priced under $5 per share have a beta of greater than 2 were shortlisted. The top thirty were then selected and the thirteen best ranked according to hedge fund sentiment. Data from around 900 elite hedge funds tracked by Insider Monkey in the third quarter of 2023 was used to identify the number of hedge funds that hold stakes in each firm. Hedge funds’ top 10 consensus stock picks outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). That’s why we pay very close attention to this often-ignored indicator.

A close-up of a stock market ticker displaying the company’s stocks.

Best Get Rich Quick Stocks To Buy

13. Incannex Healthcare Inc. (NASDAQ:IXHL)

Number of Hedge Fund Holders: N/A

Beta Rating as of December 30: 2.06

Incannex Healthcare Inc. (NASDAQ:IXHL) is a clinical stage pharmaceutical development company that engages in the research, development, and sale of medicinal cannabinoid and psychedelic pharmaceutical products and therapies.

In late August, Incannex Healthcare Inc. (NASDAQ:IXHL) had announced that Psychennex, a subsidiary of the firm, was preparing an investigational new drug application so it can begin US clinical testing of its psychedelic therapy candidate Psi-GAD. Psi-GAD had been in Phase 2 testing in partnership with the Monash University in Australia for the treatment of generalized anxiety disorder.

Just like Opendoor Technologies Inc. (NASDAQ:OPEN), Aurora Innovation, Inc. (NASDAQ:AUR), and Compass, Inc. (NYSE:COMP), Incannex Healthcare Inc. (NASDAQ:IXHL) is one of the best get rich quick stocks to buy.

12. Companhia Siderúrgica Nacional (NYSE:SID)

Number of Hedge Fund Holders: 7

Beta Rating as of December 30: 2.12

Companhia Siderúrgica Nacional (NYSE:SID) operates as an integrated steel producer in Brazil and Latin America. At the end of the third quarter of 2023, 7 hedge funds in the database of Insider Monkey held stakes worth $1.9 million in Companhia Siderúrgica Nacional (NYSE:SID), compared to 8 in the preceding quarter worth $10 million.

11. Wheels Up Experience Inc. (NYSE:UP)

Number of Hedge Fund Holders: 8

Beta Rating as of December 30: 2.40

Wheels Up Experience Inc. (NYSE:UP) provides private aviation services in the United States. In mid-November, Wheels Up Experience Inc. (NYSE:UP) announced that it had closed a new investment led by Kore Capital and funds managed by Whitebox Advisors. The new investors join Delta Air Lines, Certares Management, Knighthead Capital Management, and Cox Enterprises, providing an additional term loan facility of $40 million under the existing credit agreement.

At the end of the third quarter of 2023, 8 hedge funds in the database of Insider Monkey held stakes worth $125 million in Wheels Up Experience Inc. (NYSE:UP), the same as in the previous quarter worth $329,000.

10. Cipher Mining Inc. (NASDAQ:CIFR)

Number of Hedge Fund Holders: 9

Beta Rating as of December 30: 2.27

Cipher Mining Inc. (NASDAQ:CIFR) is a technology company that develops and operates industrial scale bitcoin mining data centers in the United States. On November 9, investment advisory Canaccord maintained a Buy rating on Cipher Mining Inc. (NASDAQ:CIFR) stock and raised the price target to $5.5 from $4.5.

At the end of the third quarter of 2023, 9 hedge funds in the database of Insider Monkey held stakes worth $1.4 million in Cipher Mining Inc. (NASDAQ:CIFR), compared to 11 in the previous quarter worth $2.9 million.

9. CureVac N.V. (NASDAQ:CVAC)

Number of Hedge Fund Holders: 10

Beta Rating as of December 30: 2.58

CureVac N.V. (NASDAQ:CVAC) is a clinical-stage biopharmaceutical company that focuses on developing various transformative medicines based on messenger ribonucleic acid. On December 19, investment advisory Bank of America maintained an Underperform rating on CureVac N.V. (NASDAQ:CVAC) stock and lowered the price target to $6.4 from $8.

Among the hedge funds being tracked by Insider Monkey, Boston-based firm RA Capital Management is a leading shareholder in CureVac N.V. (NASDAQ:CVAC) with 10.6 million shares worth more than $72 million.

8. Olaplex Holdings, Inc. (NASDAQ:OLPX)

Number of Hedge Fund Holders: 13

Beta Rating as of December 30: 2.42

Olaplex Holdings, Inc. (NASDAQ:OLPX) develops, manufactures, and sells hair care products. On November 8, investment advisory Telsey Advisory maintained a Market Perform rating on Olaplex Holdings, Inc. (NASDAQ:OLPX) stock and lowered the price target to $2 from $4.

At the end of the third quarter of 2023, 13 hedge funds in the database of Insider Monkey held stakes worth $30 million in Olaplex Holdings, Inc. (NASDAQ:OLPX), compared to 18 in the previous quarter worth $60 million.

7. Pagaya Technologies Ltd. (NASDAQ:PGY)

Number of Hedge Fund Holders: 16

Beta Rating as of December 30: 6.98

Pagaya Technologies Ltd. (NASDAQ:PGY) operates as a financial technology company in Israel, the United States, and internationally. On December 14, investment advisory Jefferies initiated coverage of Pagaya Technologies Ltd. (NASDAQ:PGY) stock with a Buy rating and a price target of $2.50.

At the end of the third quarter of 2023, 16 hedge funds in the database of Insider Monkey held stakes worth $44 million in Pagaya Technologies Ltd. (NASDAQ:PGY), compared to 12 in the previous quarter worth $70 million.

6. fuboTV Inc. (NYSE:FUBO)

Number of Hedge Fund Holders: 16

Beta Rating as of December 30: 2.41

fuboTV Inc. (NYSE:FUBO) operates a live TV streaming platform for live sports, news, and entertainment content in the United States and internationally. On December 12, investment advisory Cantor Fitzgerald initiated coverage of fuboTV Inc. (NYSE:FUBO) stock with an Overweight rating and a price target of $5.

At the end of the third quarter of 2023, 16 hedge funds in the database of Insider Monkey held stakes worth $42.5 million in fuboTV Inc. (NYSE:FUBO), compared to 13 in the previous quarter worth $42.9 million.

Along with Opendoor Technologies Inc. (NASDAQ:OPEN), Aurora Innovation, Inc. (NASDAQ:AUR), and Compass, Inc. (NYSE:COMP), fuboTV Inc. (NYSE:FUBO) is one of the best get rich quick stocks to buy.

Click to continue reading and see 5 Best Get Rich Quick Stocks To Buy.

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

Published on May 1, 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.

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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.

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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!)

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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.

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A New Dawn is Coming to U.S. Stocks

Published on May 2, 2024 at by Insider Monkey Staff

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

Should I put my money in Artificial Intelligence?

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance…

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet…

And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day.

He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…

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