5 Reddit WallStreetBets Stocks That Are Rising

2. Tesla, Inc. (NASDAQ:TSLA)

Gain in Share Price in the Last 5 Days as of March 23: 20.23%

Number of Hedge Fund Holders: 91

Elon Musk’s Tesla, Inc. (NASDAQ:TSLA) has recently been making rounds in the Reddit community, as more and more people gain from their bullish calls on the EV automaker. While Tesla, Inc. (NASDAQ:TSLA) shares have gained 20.23% in the past few days, Redditors are not the only people making long bets on the stock. Tesla, Inc. (NASDAQ:TSLA) recently crossed the trillion dollar valuation mark, making investors frenzied to own a piece of the growing company. 

Institutional interest in Tesla, Inc. (NASDAQ:TSLA) soared at the end of December 2021, as 91 hedge funds in the database of Insider Monkey reported long positions in the company, compared to 60 funds in the prior quarter. ARK Investment Management remains a prominent Tesla, Inc. (NASDAQ:TSLA) shareholder, with 1.9 million shares worth over $2 billion. 

On March 9, Piper Sandler analyst Alexander Potter stated that he noticed a “general uptick in inbound calls” from investors regarding Tesla, Inc. (NASDAQ:TSLA)’s exposure to geopolitical risks and commodity price hikes. Deteriorating relations between the US and China, as well as rising nickel prices are headwinds for the stock. The analyst views Tesla, Inc. (NASDAQ:TSLA)’s China exposure as a “major positive” but warned that American companies “are eventually used as pawns in a wider geopolitical conflict, then Tesla shareholders would likely suffer.” He reiterated an Overweight rating on Tesla, Inc. (NASDAQ:TSLA) shares with a $1,350 price target. 

Here is what Davis New York Venture Fund has to say about Tesla, Inc. (NASDAQ:TSLA) in its Q4 2021 investor letter:

“While the above discussion of broad investment categories provides useful context, we always emphasize the old adage that investing is the art of the specific. With this in mind, an example may be helpful. Tesla, Nvidia and Shopify are three of the hottest momentum stocks in today’s market, each having compounded at triple-digit-rates over the last three years. Combined, these three have a market capitalization of roughly $2.3 trillion. In other words, should an investor happen to have a couple of trillion dollars lying around, one investment option, which we will call the Market Darlings portfolio, would be to buy 100% of these three remarkable growth companies and live off their current and future earnings.”