5 Best Stocks to Buy According to Ari Zweiman’s 683 Capital Partners

This article discusses the top 5 stock picks of Ari Zweiman’s 683 Capital Partners at the end of June 2022. If you want to read about the fund’s recent performance and the changes it made to its portfolio during Q2, please go to 10 Best Stocks to Buy According to Ari Zweiman’s 683 Capital Partners.

5. General Motors Company (NYSE:GM)

683 Capital Partners’ Stake Value: $38,284,000

Percentage of 683 Capital Partners’ 13F Portfolio: 2.7%

Number of Hedge Fund Holders: 75

General Motors Company (NYSE:GM) was the only stock amongst 683 Capital Partners’ top 10 13F holdings in which the fund initiated its stake during the second quarter itself. However, unlike 683 Capital Partners, several other hedge funds tracked by Insider Monkey unloaded their entire stake in the legacy car company during that period. Billionaire Ken Fisher’s Fisher Asset Management and Joshua Pearl’s Hickory Lane Capital Management were among such funds.

In the recently concluded Goldman Sachs’ Communacopia + Technology Conference, the CEO of General Motors Company’s (NYSE:GM) Cruise unit, Kyle Vogt, revealed that Cruise would be launching a revenue-generating rideshare service on its autonomous vehicles in 90 days in two cities – Austin and Phoenix. Mr. Vogt also guided that by 2025 the Cruise unit expects to bring in $1 billion in revenue. On the same day before Mr. Vogt spoke, Marry Barra, CEO of General Motors Company (NYSE:GM), divulged that the car and SUV giant expects to invest $2 billion annually in Cruise.