5 Best Meme Stocks To Buy Now

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Below we present the list of 5 Best Meme Stocks To Buy Now. For our methodology and a more comprehensive list please see 12 Best Meme Stocks To Buy Now.

5. Palantir Technologies Inc. (NYSE:PLTR)

Number of Hedge Fund Shareholders: 31

Hedge fund ownership of Palantir Technologies Inc. (NYSE:PLTR) has dipped by a little over 20% in the past year, but money managers have generally been bullish on the AI company since it went public in Q3 of 2020. Touk Sinantha’s AltraVue Capital raised its stake in PLTR by 87% in Q1 to 4.84 million shares.

Palantir Technologies Inc. (NYSE:PLTR)’s current growth rates aren’t overly impressive, as revenue grew by 18% year-over-year in Q1 and the company’s guidance for Q2 calls for just 12% growth. With the stock trading around 17x sales in the wake of a big run-up this year, barely being able to crack double-digit sales growth isn’t overly encouraging.

Nonetheless, Palantir Technologies Inc. (NYSE:PLTR) does have some intriguing growth catalysts on the horizon, namely its new large language model AI platform, which CEO Alex Karp recently described as having stronger demand than anything he’s seen at the company in two decades. And unlike many other meme stocks, Palantir is also profitable, earning $0.01 per share in each of the past two quarters.

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