5 Best Stocks To Invest In Right Now According To Tech Billionaire

3. Facebook, Inc. (NASDAQ: FB)

The social media platform Facebook, Inc. (NASDAQ: FB) is one of the most favorite stocks of tech billionaire Coleman. The tech hedge fund has been holding the Facebook stock since the fourth quarter of 2016. It currently represents the third-largest stock investment, accounting for 6.75% of the portfolio. Shares of Facebook jumped 40% this year, extending the five years gains to 160%.

At the end of the latest quarter, Facebook was in 230 hedge funds’ portfolios, up from the previous all-time high for this statistics was 213. Wedgewood Partners commented on the performance of Facebook in the letter to investors. The firm said:

“Facebook reported 32% growth in constant currency ad revenue, along with expectations for 50-55% growth in expenses as the Company continued with their telegraphed plan to accelerate investments in privacy and security across their social platforms. The Federal Trade Commission (FTC) also approved a $5 billion fine for violating a 2012 FTC order by misrepresenting users’ ability to control data privacy. While this removed an overhang dating back to early 2018, continued pressure from politicians and regulators kept Facebook’s earnings multiple in check.”