In this article, we will take a look at the best meme stocks to buy according to analysts.
In January 2021, meme stocks didn’t just trend online: they hijacked the internet and, in many ways, financial history. For context, a surge of retail investors coordinated through online forums began pouring into shares of companies that were largely shorted by hedge funds. This dynamic resulted in a classic short squeeze: as prices increased, short sellers were forced to repurchase shares to cover their positions, which only fueled the rally. Layered on top of this was the strong momentum from new buyers who wanted to experience the wave, creating a feedback loop that sent stocks like GameStop (GME) and AMC Entertainment (AMC) into the stratosphere.
The rise of “Generation Investor,” or Gen I, reflects a shift that is less about age and more about mindset. Millions of individuals are now taking control of their financial futures, often for the first time. By the end of 2021, Schwab and TD Ameritrade together had opened over one million new brokerage accounts in each of four consecutive quarters, resulting in six million new accounts that year. The meme stock phenomenon acted as a powerful catalyst, drawing large numbers of new participants into the markets almost overnight.
Meme stocks are having another moment. Penny stocks have spiked, volatility is back, and a lot of trading looks more like gambling than investing. July, in particular, was driven by speculation. For long-term investors who prefer fundamentals over hype, that is not a great sign. Excessive speculation usually inflates prices well beyond their actual value, which then leads to sharp corrections. GameStop and AMC, poster children of the 2021 meme stock mania, are perfect case studies.
With that outlook in mind, let’s take a look at the best meme stocks to buy according to analysts.
Photo by Mohamed Hadji on Unsplash
Our Methodology
For this article, we chose consensus stock picks from credible websites that also had notable upside potential according to Wall Street analysts as of August 24. We have also mentioned the hedge fund sentiment around these holdings, according to Insider Monkey’s database of Q1 2025
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
15. NuScale Power Corporation (NYSE:SMR)
Number of Hedge Fund Holders: 18
Average Upside Potential: 14.33%
NuScale Power Corporation (NYSE:SMR) is one of the best meme stocks. On August 13, NuScale reported that it has finalized a sales agreement with UBS Securities, TD Securities (USA), B. Riley Securities, Canaccord Genuity, and Tuohy Brothers Investment Research, marking the commencement of its at-the-market offering program.
The company can choose to sell shares of its Class A common stock worth up to $500 million. NuScale Power’s deal allows it to sell shares from time to time through the financial institutions named as sales agents. Its Class A common stock has a par value of $0.0001 per share and is listed on the New York Stock Exchange under the ticker SMR.
NuScale Power’s Form 8-K filing included a legal opinion from O’Melveny & Myers LLP confirming that the shares to be issued under the sales agreement are valid.
NuScale Power Corporation is an Oregon-based company that works on small modular reactor (SMR) technology.
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