In this article, we discuss the 5 best Roth IRA stocks to buy according to Reddit. If you want to read our detailed analysis of these stocks, go directly to the 10 Best Roth IRA Stocks to Buy According to Reddit.
5. Alibaba Group Holding Limited (NYSE: BABA)
Number of Hedge Fund Holders: 135
Alibaba Group Holding Limited (NYSE: BABA) is a technology company based in China that operates an ecommerce platform. It is ranked fifth on our list of 10 best Roth IRA stocks to buy according to Reddit. On June 21, the firm announced that it had extended an agreement with shipping firm Zim that allowed merchants at the ecommerce giant to use the services of Zim. The agreement was first made official last year.
On May 24, Alibaba Group Holding Limited (NYSE: BABA) announced that 250,000 brands had joined the ecommerce platform of the company for an annual shopping festival. The increase has been attributed to lower standards for entry as the firm deals with a government crackdown.
Out of the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in Alibaba Group Holding Limited (NYSE: BABA) with 13.9 million shares worth more than $3.1 billion.
In its Q1 2021 investor letter, Polen Capital Management, an asset management firm, highlighted a few stocks and Alibaba Group Holding Limited (NYSE: BABA) was one of them. Here is what the fund said:
“Alibaba also detracted from performance as the company continues to remain under regulatory scrutiny from both the Chinese State Administration for Market Regulation on antitrust concerns and the U.S. Securities and Exchange Commission on ADR listing requirements. Despite the regulatory overhang, we believe that Alibaba’s competitive positioning and growth outlook remains intact, even if the company must pay fines or modify some business practices. We viewed the current valuation at <20x next twelve month’s earnings as a compelling opportunity to add to our position. Alibaba is the second largest position in the Portfolio.”