5 Best Active Stocks to Buy Now

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1. Tesla, Inc. (NASDAQ: TSLA)

Number of hedge fund holders: 68  

Tesla, Inc. (NASDAQ: TSLA) is a California-based electric vehicle and clean energy firm owned by billionaire Elon Musk and founded in 2003. It is placed first on our list of 10 best active stocks to buy now. Some of the products marketed by the company include electric cars, battery energy storage for residential, business, and commercial purposes, as well as solar panels and solar roof tiles, among others. Tesla stock is one of the most active on the market and has offered investors more than 262% return on investment in the past year. 

On May 13, investment advisory CFRA Research maintained a Hold rating on Tesla, Inc. (NASDAQ: TSLA) stock with a price target of $600 on the back of plummeting cryptocurrency prices. Tesla has invested more than $1 billion in Bitcoin, the leading cryptocurrency. 

Out of the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in the firm with 28.9 million shares worth more than $20 billion.

In its Q1 2021 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Tesla, Inc. (NASDAQ: TSLA) was one of them. Here is what the fund said:

Tesla, Inc. designs, manufactures, and sells fully electric vehicles, solar products, energy storage solutions, and battery cells. The stock fell during the quarter as a result of general market dynamics and a potential production slowdown due to parts shortages. A refreshed S/X and China Model Y ramp could also have a negative impact on margins in early 2021. We anticipate strong growth and improved margins driven by new production capacity, manufacturing efficiencies, localization of its manufacturing and supply chain, and maturation of Tesla’s full self-driving technology.”

You can also take a peek at 10 Best Travel Stocks to Buy Right Now, and 10 Best Automotive Stocks to Invest in Now.

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