5 Best US Stocks to Buy Now

2. Tesla, Inc. (NASDAQ: TSLA)

Number of Hedge Fund Holders: 62

Tesla, Inc. (NASDAQ: TSLA) is a California-based firm in the electric vehicle and clean energy businesses. It is placed second on our list of 10 best US stocks to buy now and was founded in 2003. Tesla stock has registered a remarkable rally in the past twelve months, rising over 700% in value before falling amid supply worries and demand shortages. Tesla is owned by billionaire Elon Musk. The company stock has returned more than 255% to investors over the course of the past twelve months. The firm is the largest EV manufacturer in the world in terms of delivery numbers and market capitalization. 

On May 21, media reports indicated that Tesla, Inc. (NASDAQ: TSLA) had won approval from the German authorities for setting up a factory in Berlin. Tesla already has manufacturing facilities in the United States and China. 

Here is what Baron Partners Fund has to say about Tesla, Inc. in its Q1 2021 investor letter:

“Tesla, Inc. designs, manufactures, and sells fully electric vehicles, solar products, energy storage solutions, and battery cells. The stock fell during the quarter as a result of general market dynamics and a potential production slowdown due to parts shortages. A refreshed S/X and China Model Y ramp could also have a negative impact on margins in early 2021. We anticipate strong growth and improved margins driven by new production capacity, manufacturing efficiencies, localization of its manufacturing and supply chain, and maturation of Tesla’s full self-driving technology.”