5 Best Undervalued Stocks to Buy Now According to Reddit

2. Molson Coors Beverage Company (NYSE: TAP)

Number of Hedge Fund Holders: 39

Molson Coors Beverage Company (NYSE: TAP) is an Illinois-based beverage firm that is placed second on our list of 10 best undervalued stocks to buy now according to Reddit. It was founded in 1873. Molson stock has offered investors returns exceeding 55% in the past twelve months. Molson Coors primarily makes and sells beer and malt products in the United States and Canada. Some of the brands it owns include Blue Moon, Carling, Coors Banquet, Coors Light, George Killian’s Irish Red, Granville Island Brewing, and Hamm’s, among others. 

On March 19, Molson Coors Beverage Company (NYSE: TAP) stock fell more than 2% as investment advisories JP Morgan and Deutsche Bank revised their price targets and added the stock to their sell lists because of disappointing earnings results for the first quarter of 2021. 

At the end of the fourth quarter of 2020, 39 hedge funds in the database of Insider Monkey held stakes worth $386 million in Molson Coors Beverage Company (NYSE: TAP), up from 33 in the preceding quarter worth $316 million.