5 Most Volatile Stocks To Buy Now

4. NVIDIA Corporation (NASDAQ: NVDA)

Number of Hedge Fund Holders: 80   

NVIDIA Corporation (NASDAQ: NVDA) is a visual computing firm based in California. It is ranked fourth on our list of 15 most volatile stocks to buy now. The company has a market cap of over $480 billion and posted more than $16 billion in revenue last year. The stock has benefited from an increase in the prices of semiconductor chips amid increased demand. The products of the firm have also been in hot demand due to the increase in crypto coin mining around the globe. 

On July 23, investment advisory Argus kept a Buy rating on NVIDIA Corporation (NASDAQ: NVDA) stock and raised the price target to $230 from $175, highlighting that the demand for the products made by the company still remained high despite the pandemic winding down. 

At the end of the first quarter of 2021, 80 hedge funds in the database of Insider Monkey held stakes worth $6.2 billion in NVIDIA Corporation (NASDAQ: NVDA), down from 88 the preceding quarter worth $8.6 billion.

In its Q1 2021 investor letter, Vulcan Value Partners, an asset management firm, highlighted a few stocks and NVIDIA Corporation (NASDAQ: NVDA) was one of them. Here is what the fund said:

“NVIDIA Corp. is the dominant supplier of Graphics Processing Units (GPUs) worldwide. NVIDIA’s GPUs are at the intersection of a number of important computing trends including the movement to the Cloud, artificial intelligence, autonomous vehicles, edge computing, gaming, and more. We previously owned NVIDIA and sold it in the third quarter of 2020 as the price to value gap closed and our margin of safety was reduced. As with all our MVP companies, we continued to follow NVIDIA closely. Since that time, NVIDIA reported excellent results and its value has compounded rapidly. The technology selloff at the beginning of the year negatively affected the stock price while our estimate of NVIDIA’s value per share increased. This happy combination of events created a margin of safety and an opportunity to once again add NVIDIA to the portfolio.”