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13 Best New Tech Stocks to Buy Now

In this article, we discuss the 13 best new tech stocks to buy now. If you want to read about some more new tech stocks, go directly to 5 Best New Tech Stocks to Buy Now.

Investments in the technology sector, traditionally seen as one of the most growth-oriented spaces in the market, have nosedived in recent months due to recession fears. Famous growth stocks like Amazon.com, Inc. (NASDAQ:AMZN), Microsoft Corporation (NASDAQ:MSFT), and Meta Platforms, Inc. (NASDAQ:FB) have all seen their share prices decline by more than 20% this year so far. Investors wary of big tech but keen on recovery momentum should consider investing in new tech names that offer the same growth potential at much cheaper rates. 

New technology stocks can be safely seen as firms that demonstrate rates of growth that outpace the market average. Like growth stocks, these firms offer investors the chance to invest in firms whose revenue or net income is expected to grow faster than the market average. However, investments in new tech stocks can be more volatile as compared to established stocks. Investors should keep in mind that pouring money in new tech increases chances of earning profits from rapid price appreciation.

There are several new tech stocks that operate on different scales, such as highly promising small businesses to industry setups. Some of the key metrics that investors should look into for these firms include growing sales, revenues, and cash flows. These firms tend to have high valuations and their high prices, relative to profits, makes them more expensive. In 2022, there has been a mass exodus away from new tech towards value options in light of a macro slowdown that has pummeled the stock market. 

However, the third-quarter earnings show the anticipated economic slowdown might not be as bad as Wall Street expected. Recent data shows 26% fewer CEOs using the word recession in the third-quarter conference calls compared to the second quarter. Moreover, in the third quarter of 2022, 69% of S&P 500 companies beat earnings estimates, while 71% beat the consensus revenue estimates. Since 2000, growth stocks have outperformed their value counterparts. However, this equation has changed in the past few months. 

Photo by Ruben Sukatendel on Unsplash

Investors interested in value offerings should also keep in mind that past performance does not predict future performance and picking individual stocks can also be a risky business. Many investors buy index mutual funds and exchange-traded funds, which bundle hundreds or thousands of stocks into a single investment. Even though these carry lower levels of risk, it is not very often that they outperform the broader market. New tech stocks, on the other hand, are a riskier but more rewarding bet. 

Our Methodology

The companies that operate in the technology sector and debuted on the stock market in 2022 were selected for the list. Special importance was assigned to outlining the basic business fundamentals and analyst ratings for each firm to provide readers with some context so they can make more informed investment choices. Data from around 900 elite hedge funds tracked by Insider Monkey in the third quarter of 2022 was used to identify the number of hedge funds that hold stakes in each firm.

Best New Tech Stocks to Buy Now

13. Ivanhoe Electric Inc. (NYSE:IE)

Number of Hedge Fund Holders: 11 

Ivanhoe Electric Inc. (NYSE:IE) operates as a mineral exploration and development company in the United States. On December 8, Ivanhoe Electric announced that its subsidiary, Cordoba Minerals Corp, and JCHX Mining Management Co., Ltd. have agreed to a strategic arrangement for the joint development of Cordoba’s flagship Alacran Project in Colombia. Ivanhoe Electric owns a 63.27% interest in Cordoba.

At the end of the third quarter of 2022, 11 hedge funds in the database of Insider Monkey held stakes worth $71.5 million in Ivanhoe Electric Inc. (NYSE:IE), compared to 12 the preceding quarter worth $54.4 million.

Unlike Amazon.com, Inc. (NASDAQ:AMZN), Microsoft Corporation (NASDAQ:MSFT), and Meta Platforms, Inc. (NASDAQ:FB), Ivanhoe Electric Inc. (NYSE:IE) is one of the best new tech stocks to buy now according to elite investors. 

12. Pagaya Technologies Ltd. (NASDAQ:PGY)

Number of Hedge Fund Holders: 11 

Pagaya Technologies Ltd. (NASDAQ:PGY) operates as a financial technology company in Israel, the United States, and the Cayman Islands. On November 10, Pagaya Technologies posted earnings for the third quarter of 2022, reporting losses per share of $0.02. The revenue over the period was $204 million, up 49.3% compared to the revenue over the same period last year and beating market estimates by $26 million.

On October 12, Wedbush analyst David Chiaverini initiated coverage of Pagaya Technologies Ltd. (NASDAQ:PGY) stock with a Neutral rating and $2 price target, noting that funding capacity is the key governor on growth for the company. 

At the end of the third quarter of 2022, 11 hedge funds in the database of Insider Monkey held stakes worth $189.7 million in Pagaya Technologies Ltd. (NASDAQ:PGY), compared to 15 in the previous quarter worth $127.8 million.

11. SpringBig Holdings, Inc. (NASDAQ:SBIG)

Number of Hedge Fund Holders: 12    

SpringBig Holdings, Inc. (NASDAQ:SBIG) operates a software platform that provides customer loyalty and marketing automation solutions to cannabis retailers and brands in the United States and Canada. On August 26, On December 8, SpringBig Holdings posted earnings for the second quarter of 2022, reporting losses per share of $0.14, beating market estimates by $0.02. The revenue over the period was $6.6 million, up 13.8% compared to the revenue over the same period last year and missing market estimates by $0.4 million. 

At the end of the third quarter of 2022, 12 hedge funds in the database of Insider Monkey held stakes worth $297,000 in SpringBig Holdings, Inc. (NASDAQ:SBIG), compared to 16 in the previous quarter worth $1 million.

10. Alvotech (NASDAQ:ALVO)

Number of Hedge Fund Holders: 13    

Alvotech (NASDAQ:ALVO) develops and manufactures biosimilar medicines for patients worldwide. On December 7, Alvotech said that STADA, a pharmaceutical company, and Alvotech are launching Hukyndra high-concentration, low-volume, citrate-free formulation of adalimumab in several European countries. Hukyndra is a biosimilar to AbbVie’s drug Humira.

At the end of the third quarter of 2022, 13 hedge funds in the database of Insider Monkey held stakes worth $115.6 million in Alvotech (NASDAQ:ALVO), compared to 14 the preceding quarter worth $134.2 million.

9. Semantix, Inc. (NASDAQ:STIX)

Number of Hedge Fund Holders: 14     

Semantix, Inc. (NASDAQ:STIX) provides consulting, training, and support for big data solutions, data science, enterprise search, machine learning, and Internet of things. On August 31, Semantix Inc. announced that it has acquired Zetta Health Analytics, a Brazilian health data analytics firm, to expand its capabilities in serving healthcare clients through SaaS data solutions. Semantix expects the acquisition to complement the development of the Semantix Data Platform.

At the end of the third quarter of 2022, 14 hedge funds in the database of Insider Monkey held stakes worth $2.5 million in Semantix, Inc. (NASDAQ:STIX). 

8. Nogin, Inc. (NASDAQ:NOGN)

Number of Hedge Fund Holders: 15  

Nogin, Inc. (NASDAQ:NOGN) operates as an e-commerce, technology platform provider in the apparel and ancillary industry’s multichannel retailing, business-to-consumer, and business-to-business domains. Some of the products it provides include website development, photography, content management, customer service, marketing, warehousing, and fulfillment. The firm is headquartered in California. 

At the end of the third quarter of 2022, 15 hedge funds in the database of Insider Monkey held stakes worth $1.7 million in Nogin, Inc. (NASDAQ:NOGN). 

7. Gogoro Inc. (NASDAQ:GGR)

Number of Hedge Fund Holders: 15    

Gogoro Inc. (NASDAQ:GGR) manufactures two-wheeled electric vehicles. On September 28, Gogoro signed a NT$10.7 billion five-year credit facility agreement, with a two-year extension option, with a group of ten syndicated banks. The facility consists of two term loans and one revolving facility that will be used to pay off a current outstanding credit facility.

On November 11, Benchmark analyst Fawne Jiang maintained a Buy rating on Gogoro Inc. (NASDAQ:GGR) stock and lowered the price target to $7 from $11, highlighting the company’s third quarter earnings report.

At the end of the third quarter of 2022, 15 hedge funds in the database of Insider Monkey held stakes worth $20.5 million in Gogoro Inc. (NASDAQ:GGR), compared to 14 in the previous quarter worth $38.5 million.

6. Polestar Automotive Holding UK PLC (NASDAQ:PSNY)

Number of Hedge Fund Holders: 15     

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) manufactures and sells premium electric vehicles. On October 12, Polestar Automotive Holding unveiled the Polestar 3 electric performance SUV. The first version of the all-electric five-passenger SUV is priced at $84,000, but lower-costs versions are expected to follow. This is the first car from the company to feature centralized computing with the NVIDIA DRIVE core computer.

On November 16, Citi analyst Itay Michaeli resumed coverage of Polestar Automotive Holding UK PLC. (NASDAQ:PSNY) stock with a Buy rating and $12 price target, noting the company’s recent achievements, which include maintaining its volume targets until 2022, obtaining extra funding, and carrying out its plans to roll out new products.

At the end of the third quarter of 2022, 15 hedge funds in the database of Insider Monkey held stakes worth $62.7 million in Polestar Automotive Holding UK PLC (NASDAQ:PSNY), up from 12 the preceding quarter worth $91.9 million.

In contrast to Amazon.com, Inc. (NASDAQ:AMZN), Microsoft Corporation (NASDAQ:MSFT), and Meta Platforms, Inc. (NASDAQ:FB), Polestar Automotive Holding UK PLC (NASDAQ:PSNY) is one of the best new tech stocks to buy now according to elite investors. 

Click to continue reading and see 5 Best New Tech Stocks to Buy Now.

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Disclosure. None. 13 Best New Tech Stocks to Buy Now is originally published on Insider Monkey.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

Dr. Inan Dogan

Dr. Ian Dogan

Co-Founder and Research Director at Insider Monkey

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

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  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

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Wall Street calls this $3 stock a “Melting Ice Cube.” They said the same thing about BTI before it returned 90%.

Dr. Inan Dogan

Dr. Ian Dogan

Co-Founder and Research Director at Insider Monkey

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