5 Best Buy-the-Dip Stocks To Buy Now

In this article, we will take a look at the 5 best buy-the-dip stocks to buy now. To see more such companies, go directly to 12 Best Buy-the-Dip Stocks To Buy Now.

5. General Motors Company (NYSE:GM)

Number of Hedge Fund Holders: 72

General Motors Company (NYSE:GM) shares received a hammering in October amid UAW strikes and the company’s decision to suspend its entire Cruise operations unit after a hit-and-run event involving its driverless car. However Barclays recently upgraded GM stock, citing “historically cheap” valuation. Barclays analyst Dan Levy said:

“While we acknowledge that structural concerns aren’t likely to dissipate any time soon, we believe even a modest reversal of sharply negative sentiment could drive attractive upside.”

Insider Monkey’s database of 910 hedge funds shows that 72 funds were long GM as of the end of the second quarter of 2023. The biggest stakeholder of the company was Natixis Global Asset Management’s Harris Associates which had a $1.5 billion stake in the company.

Patient Capital Opportunity Equity Strategy made the following comment about General Motors Company (NYSE:GM) in its Q2 2023 investor letter:

“We like other names mostly ignored by the market for similar reasons. Names like Expedia (EXPE), General Motors Company (NYSE:GM), and Delta Air Lines. These companies have strong returns on capital (14%+), good competitive positions, cheap valuations (all double-digit free cash flow yields), and are returning capital to shareholders. We trust the managements to take advantage of their depressed stock prices and create long-term shareholder value.”