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.
14. Rivian Automotive, Inc. (NASDAQ:RIVN)
Number of Hedge Fund Holders: 41
Average Upside Potential: 15.04%
Rivian Automotive, Inc. (NASDAQ:RIVN) is one of the best meme stocks. On August 4, Cantor Fitzgerald maintained a Neutral rating on RIVN as the EV manufacturer prepares to report Q2 earnings.
Rivian delivered 10,661 vehicles in Q2 2025, almost the same as analysts’ forecast of 10,670 units, but less than the 13,790 it delivered in the same quarter last year. The company built 5,979 vehicles, which was well below the expected 11,325 and also lower than the 9,612 produced in Q2 2024. Rivian’s 2025 guidance calls for 40,000 to 46,000 deliveries, compared with 51,579 in the prior fiscal year.
Cantor Fitzgerald added that it will be keeping an eye on Rivian’s $5.8 billion joint venture with Volkswagen, its work on self-driving technology, and the R2 vehicle line, which is planned to start production in the first half of 2026.
Rivian Automotive, Inc. (NASDAQ:RIVN) is a California-based company that makes and sells electric vehicles. The company also offers services like FleetOS for fleet management, maintenance and repair, and software development, in addition to its own fast-charging network.
13. Archer Aviation Inc. (NYSE:ACHR)
Number of Hedge Fund Holders: 33
Average Upside Potential: 18.24%
Archer Aviation Inc. (NYSE:ACHR) is one of the best meme stocks. On July 8, Canaccord Genuity maintained a Buy recommendation on ACHR with a $13 price target. The stock has recorded a remarkable 124% rise over the past year.
Canaccord Genuity reported that the company recently tested its Midnight aircraft to see how it performs in extreme heat, humidity, and dust. The management plans to expand testing to help with certification and commercial use, likely including demo flights between major vertiports and airports in Abu Dhabi.
Archer Aviation Inc. (NYSE:ACHR) plans to boost aircraft production at its Covington, Georgia, facility to about two planes per month by the end of the year. This increase is important for earning revenue from more Launch Edition customers, including Ethiopian Airlines and PT. IKN, before certification. With a market value of $6.35 billion and a strong current ratio of 15.8, the company seems well-equipped to fund this production growth.
The company must produce six certified aircraft for FAA pilots to use in inspection trials, which management predicts will last 9 to 12 months. The US Department of Transportation is also expected to begin the eVTOL Integration Pilot Program within 180 days of the Executive Order on Unleashing American Drone Dominance, dated June 6.
Archer Aviation Inc. (NYSE:ACHR) designs and develops aircraft and related technologies in the US and internationally, working in both commercial and defense sectors.
12. Chewy, Inc. (NYSE:CHWY)
Number of Hedge Fund Holders: 55
Average Upside Potential: 19.02%
Chewy, Inc. (NYSE:CHWY) is one of the best meme stocks. On July 10, JMP Securities reiterated a Market Outperform rating on CHWY and lifted the price target to $48 from $39.
The firm pointed to the large American pet spending market, which hit $152 billion in 2024, and noted that the growing trend of treating pets like family is driving future growth. Chewy has benefited from this, earning $12.1 billion in revenue over the past year with a solid gross profit margin of 29.24%.
JMP Securities added that Chewy’s autoship program helps make its revenue more predictable and also highlighted that the company could boost its profit margins by growing its advertising.
The investment firm commented that it believes Chewy could see higher profits than expected, and that its current value still looks fair when compared with JMP’s Blue Sky analysis. Furthermore, JMP Securities thinks Chewy’s analyst estimates could go up, which might push the stock price closer to their new $48 target.
Chewy, Inc. (NYSE:CHWY) is an American e-commerce store that sells pet food, supplies, medications, and other pet products.
11. Krispy Kreme, Inc. (NASDAQ:DNUT)
Number of Hedge Fund Holders: 18
Average Upside Potential: 21.18%
Krispy Kreme, Inc. (NASDAQ:DNUT) is one of the best meme stocks. On June 10, Krispy Kreme announced the sale of its remaining shares in Insomnia Cookies Holdings, LLC to Insomnia Cookies and some other shareholders for about $75 million in cash.
This sale comes after Krispy Kreme sold most of its stake in Insomnia Cookies on July 17, 2024. The company said it will use the money, after paying fees, to pay down debt.
Josh Charlesworth, CEO of Krispy Kreme, commented:
“We continue to take swift, decisive action to de-leverage our balance sheet and drive sustainable, profitable growth. This is an important step as we focus on our two biggest opportunities: profitable U.S. expansion and capital-light international franchise growth.”
With this sale, Krispy Kreme fully leaves its investment in Insomnia Cookies, shifting its focus to its main business. The company operates in more than 40 countries through its stores, retail partners, and online platforms.
This sale is part of Krispy Kreme’s plan to improve its finances. The company is famous for its Original Glazed doughnuts and is growing worldwide through different distribution channels.
10. DraftKings Inc. (NASDAQ:DKNG)
Number of Hedge Fund Holders: 70
Average Upside Potential: 26.71%
DraftKings Inc. (NASDAQ:DKNG) is one of the best meme stocks. On July 29, JMP Securities analyst Jordan Bender maintained a Market Outperform rating on DKNG, assigning a price target of $50.
The $50 price target is based on a mix of different measures to estimate how the sports betting company will perform in the future. The firm explained that DraftKings’ valuation incorporated a 17.5x estimate of its 2026 EBITDA.
The analysis also factors in 18x the company’s estimated 2026 FCF for the online gambling business.
DraftKings Inc. (NASDAQ:DKNG) is a digital sports and gaming company operating in the United States and internationally. It provides online sports betting, daily fantasy sports, online casino games, retail sportsbooks, gaming software, and a marketplace for digital collectibles and NFTs.
9. Lucid Group, Inc. (NASDAQ:LCID)
Number of Hedge Fund Holders: 19
Average Upside Potential: 35.04%
Lucid Group, Inc. (NASDAQ:LCID) is one of the best meme stocks. On August 4, Cantor Fitzgerald assigned a Neutral rating on LCID with a $3 price target.
Lucid delivered 3,309 vehicles in the second quarter of 2025, which was less than analysts expected (3,791 units) and the consensus estimate of 3,611 units, but higher than the 2,394 vehicles delivered in the same quarter last year.
The electric vehicle company reported that it produced 3,863 vehicles in Q2 2025, which was less than the analyst estimate of 4,000 and the consensus of 4,305, but more than the 2,110 vehicles made in the second quarter of 2024.
Investors are closely watching gross margins, with analysts expecting Lucid to have about a 95% negative gross margin in the second quarter while the company works on improving its finances.
Lucid Group, Inc. (NASDAQ:LCID) manufactures and sells electric vehicles, batteries, and powertrains, and develops its own software for the cars.
8. Mobileye Global Inc. (NASDAQ:MBLY)
Number of Hedge Fund Holders: 26
Average Upside Potential: 39.99%
Mobileye Global Inc. (NASDAQ:MBLY) is one of the best meme stocks. On July 24, CFRA raised the rating for MBLY from Buy to Strong Buy, also upping the price target to $21 from $22.
The research firm pointed out that the rise of robotaxis, backed by new partnerships with Uber and Lyft, could play a pivotal role in driving stronger results from 2027 onward. This growth may help balance out challenges from industry uncertainty and weaker EV demand.
CFRA raised its earnings per share forecasts for Mobileye to $0.36 in 2025, $0.51 in 2026, and $0.69 in 2027, noting positively that the company increased its operating income outlook for the current year, even with ongoing trade hurdles.
Mobileye outperformed expectations in China, delivering around 1.5 million units in the first half of 2025 instead of the expected 1 million. The company also doubled its 2025 SuperVision forecast to 40,000 units.
The firm sees Mobileye Global Inc. (NASDAQ:MBLY) as a good robotaxi investment for investors who want to avoid the drama around Tesla. It also notes that the company could gain more if additional trade deals, similar to Japan’s 15% tariff rate, are made with the European Union.
Mobileye Global Inc. (NASDAQ:MBLY) makes advanced driver assistance systems (ADAS) and self-driving technologies. Its products include features like Base ADAS, SuperVision, Mobileye Chauffeur, and Mobileye Drive, which are used in cars, fleets, and robotaxis.
7. MARA Holdings, Inc. (NASDAQ:MARA)
Number of Hedge Fund Holders: 13
Average Upside Potential: 48.35%
MARA Holdings, Inc. (NASDAQ:MARA) is one of the best meme stocks. On July 30, Cantor Fitzgerald kept an Overweight rating on MARA and held its price target at $39, after the company reported its Q2 2025 results.
MARA posted record revenue of $238.5 million in the second quarter, up 64% from last year. The company’s adjusted EBITDA margin also grew by about 970 basis points, reaching 22.2%.
In the second quarter of 2025, the Bitcoin mining company earned about $101,000 for each Bitcoin mined. It expects further growth in the third quarter as Bitcoin trades near $117,000 and the company works to boost its hash rate from 57.4 EH/S to 75 EH/S by the end of the year.
MARA Holdings, Inc. (NASDAQ:MARA) raised $950 million through a convertible offering, giving it funds to use for infrastructure deals or buying more Bitcoin. The company now holds over 50,000 BTC, making it the second-largest corporate holder of Bitcoin.
The company’s management is focusing on developing the company as a load balancing technology for AI and high-performance computing, but Cantor Fitzgerald points out that this plan is still in its early stages.
MARA Holdings, Inc. (NASDAQ:MARA) is a digital asset technology company in the United States that provides solutions to improve data center operations, such as liquid immersion cooling and solutions for Bitcoin miners.
6. ChargePoint Holdings, Inc. (NYSE:CHPT)
Number of Hedge Fund Holders: 12
Average Upside Potential: 54.06%
ChargePoint Holdings, Inc. (NYSE:CHPT) is one of the best meme stocks. On July 29, ChargePoint launched Safeguard Care, a new service that monitors the reliability of its electric vehicle charging stations. The company made $408 million in revenue over the past year and is looking for new ways to earn money while keeping cash burn under control.
The program, now active in six markets, sends trained service staff to regularly check charging stations and fix common problems during their visits.
During each Safeguard Care visit, the team inspects the charging station and surrounding area, cleans it, makes minor repairs or adjustments, and runs a test charge to make sure everything works. Problems that cannot be fixed on-site are sent to ChargePoint support for follow-up.
JD Singh, ChargePoint’s Chief Customer Experience Officer, mentioned that Safeguard Care shows the company’s focus on providing reliable charging. The service is aimed at busy and widely spread charging stations, like those in cities, parking garages, and workplaces, especially for owners who don’t have staff to maintain them. It works alongside ChargePoint’s Assure service by adding on-site inspections.
ChargePoint Holdings, Inc. (NYSE:CHPT) offers EV charging networks and solutions in North America and Europe.
5. Intuitive Machines, Inc. (NASDAQ:LUNR)
Number of Hedge Fund Holders: 21
Average Upside Potential: 61.02%
Intuitive Machines, Inc. (NASDAQ:LUNR) is one of the best meme stocks. On August 4, Cantor Fitzgerald maintained an Overweight rating on LUNR with a $16 price target.
On July 30, the space technology company received a $9.8 million Phase Two government contract for its Orbital Transfer Vehicle (OTV), allowing the project to move forward to the Critical Design Review stage.
According to Cantor Fitzgerald, Intuitive Machines is widening its reach by securing contracts beyond NASA, aiming to grow its customer base and offer space mobility services beyond just lunar deliveries.
The research firm reports that the OTV is being engineered to transport payloads of up to 2,100 kilograms with both speed and efficiency.
Intuitive Machines, Inc. (NASDAQ:LUNR) plans to commence the development of the Orbital Transfer Vehicle in 2026, paving the way for possible growth in the space transportation industry.
The company builds and operates space products and services in the United States, offering payload delivery, lunar access, space data services, and infrastructure for autonomous operations.
4. Canopy Growth Corporation (NASDAQ:CGC)
Number of Hedge Fund Holders: 4
Average Upside Potential: 64.02%
Canopy Growth Corporation (NASDAQ:CGC) is one of the best meme stocks. On August 5, CGC revealed that it is launching its 7ACRES cannabis brand in Australia, introducing two high-THC sativa strains to its medical cannabis lineup.
The company released two strains, Ultra Jack and Jack Frost, both sold in 10-gram flower packs. Ultra Jack comes from crossing Ultra Sour with Jack Haze, while Jack Frost mixes White Widow and Cold Creek Kush.
Canopy Growth expanded its presence in Australia by launching the 7ACRES brand, adding to its existing products like Tweed flower and Spectrum Therapeutics oils, which come in Red, Yellow, White, and Blue options.
Andrew Bevan, Canopy Growth Corporation (NASDAQ:CGC)’s SVP of Global Medical, commented that adding 7ACRES in Australia gives patients and doctors more options for quality cannabis products. Similarly, CEO Luc Mongeau mentioned that global medical is one of Canopy Growth’s biggest business opportunities.
Canopy Growth Corporation is a Canadian company that develops and sells cannabis, hemp, and related products in Canada, Germany, and Australia. It operates through four segments: Canada Cannabis, International Markets Cannabis, Storz & Bickel, and This Works.
3. Enovix Corporation (NASDAQ:ENVX)
Number of Hedge Fund Holders: 23
Average Upside Potential: 88.80%
Enovix Corporation (NASDAQ:ENVX) is one of the best meme stocks. On August 4, Canaccord Genuity assigned a Buy rating to ENVX and lifted the price target from $20 to $22.
After Enovix’s Q2 2025 earnings call and a positive pre-announcement, along with a capital raise via a warrant dividend, analysts increased the company’s price target. The company remains financially strong, holding ample cash compared to debt and maintaining a current ratio of 4.37, which highlights solid short-term liquidity.
Canaccord pointed out the excitement around Enovix’s new AI-1 platform, which is the first smartphone battery to reach over 900 Wh/L in energy density. It also meets core consumer needs, including fast 3C charging and a cycle life now expected to last 1,000 cycles, up from 900.
The research firm stated that Enovix believes its technology is fully developed and its cells are ready for the market, but the company still needs an official order from a top smartphone manufacturer and has to prove it can scale up production.
Canaccord raised its price target to $22 after updating its discounted cash flow model. The update factored in a 14% cost of capital and 5% long-term growth, with the revision mainly tied to stronger selling price forecasts and other model tweaks.
Enovix Corporation (NASDAQ:ENVX) is an American maker of lithium-ion battery cells, with its products utilized in wearables, IoT, smartphones, computers, and electric vehicles.
2. Longeveron Inc. (NASDAQ:LGVN)
Number of Hedge Fund Holders: N/A
Average Upside Potential: 233.75%
Longeveron Inc. (NASDAQ:LGVN) is one of the best meme stocks. On July 21, Longeveron obtained a US patent license for stem cell technology from the University of Miami, which could help in developing treatments for heart disease.
The licensed patent (12,168,028 B2) covers a method to create GHRH-Receptor+ heart muscle cells from stem cells. These cells can develop into human heart muscle while possibly reducing the risk of ventricular arrhythmias, which has been a problem with earlier stem cell treatments.
Joshua Hare, Cofounder, Chairman, and Chief Scientific Officer of Longeveron, commented:
“This technology provides a solution to one of the most difficult barriers to the implementation of induced pluripotent stem cells technology in the cardiovascular space,”
The patented technology works by picking out cells that will become heart muscle cells and removing those that can cause electrical problems. This allows new heart tissue to form without the risk of dangerous heart rhythm issues. Longeveron believes this technology could be used to treat many heart diseases in adults and some rare conditions in children.
The company’s main experimental treatment, laromestrocel (Lomecel-B), is being developed for hypoplastic left heart syndrome, Alzheimer’s disease, pediatric dilated cardiomyopathy, and age-related frailty. This announcement comes after Longeveron recently got IND approval for pediatric dilated cardiomyopathy.
Longeveron Inc. (NASDAQ:LGVN) is a biotech company in Miami, Florida, working on cell-based treatments for critical and age-related health conditions.
1. Annovis Bio, Inc. (NYSE:ANVS)
Number of Hedge Fund Holders: 4
Average Upside Potential: 267.65%
Annovis Bio, Inc. (NYSE:ANVS) is one of the best meme stocks. On August 7, Annovis announced that it has finished transferring patents for both the older semi-crystalline and the newer crystalline versions of its drug candidate, buntanetap. These patents will now protect the drug until 2046.
The company, which works on drugs for brain-related diseases, mentioned that it now has 13 patent families filed in different countries. These patents give global protection for both versions of its drug, which is being developed to treat Alzheimer’s and Parkinson’s disease.
In its press release, Annovis said it has grown its patent portfolio beyond the first patent to also cover the drug’s makeup, how it works, the different diseases it could treat, and how it might be used with other medicines.
The company added that tests on both animals and humans showed the two forms of buntanetap worked the same in the body, with equal exposure levels. These results were shared at the 2025 Alzheimer’s Association International Conference in Toronto.
The FDA has already approved the new crystalline form for Annovis’s ongoing Phase 3 trial in early Alzheimer’s disease. This trial, which started earlier this year, is taking place at over 75 sites in the US and gives participants either a daily dose of the crystalline drug or a placebo for 18 months. Annovis is working on buntanetap as a treatment for neurodegenerative diseases, focusing on its ability to tackle multiple disease processes at the same time.
Annovis Bio, Inc. (NYSE:ANVS), a drug company based in Malvern, Pennsylvania, works on developing treatments for neurodegenerative diseases.
While we acknowledge the potential of ANVS 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 ANVS and that has 100x upside potential, check out our report about this cheapest AI stock.
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