Below we presented the list of 5 Best Momentum Stocks to Buy Now. For our detailed discussion and a more comprehensive list please see 15 Best Momentum Stocks to Buy Now.
At Insider Monkey we leave no stone unturned when looking for the next great investment idea. For example, lithium mining is one of the fastest growing industries right now, so we are checking out stock pitches like this emerging lithium stock. We go through lists like the 10 best hydrogen fuel cell stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our homepage. Keeping this in mind let’s take a look at the best momentum stocks to buy:
5. Paypal Holdings, Inc. (NASDAQ:PYPL)
No of HFs: 150
Total Value of HF Holdings: $11.4 Billion
One of the biggest hedge fund savings stakes in the company is Ken Fisher’s Fisher Asset Management which had $1.9 billion invested in the stock at the end of September. Polen Capital Management mentioned PYPL in its Q4 2020 investor letter:
For the full year 2020, one of the top performers was PayPal, which we purchased in 2019, the company continues to take market share in digital payments and has seen an acceleration in user adoption and engagement, especially within their “silver tech” or older user demographic. We expect many more years of ongoing double-digit growth from their various business segments and new initiatives.”