5 Best Reddit Stocks To Buy Now

4. PayPal Holdings, Inc. (NASDAQ:PYPL)

Number of Hedge Fund Holders: 103

PayPal Holdings, Inc. (NASDAQ:PYPL) is next on our list of the best Reddit stocks. The financial tech company is popular among the Reddit community as the company showed growth on nearly all accounts in the first quarter of 2023. As the stock is down 3.33% year-to-date, retail investors on Reddit believe that the stock is undervalued right now but there is anticipation that it will experience a substantial increase in value when it begins to recover.

As of the close of Q1 2023, PayPal Holdings, Inc. (NASDAQ:PYPL) was a part of 103 hedge fund portfolios, according to Insider Monkey’s database. The stakes owned by these hedge funds have a total value of over $3.66 billion.

Manole Capital Management mentioned PayPal Holdings, Inc. (NASDAQ:PYPL) in its Q2 2023 investor letter. Here is what the firm has to say:

“For our purposes, we are just going to focus on software digital wallets, as they are much more common and accessible. If you own an iPhone, then you have an Apple Pay pre-loaded digital wallet. If you have a Samsung phone, you have Samsung Pay available for use. Those two, along with Google Pay and PayPal Holdings, Inc. (NASDAQ:PYPL), are the four most popular digital wallets today. According to the Payments Journal, PayPal has been used (over the last 12 months) by 62% of American consumers, followed by Apple Pay at 41% and Google Pay at 32%. (Click here to read the full text)

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