Compass Point Reiterates a Buy Rating on TeraWulf (WULF) With a $6.50 PT

TeraWulf Inc. (NASDAQ:WULF) is one of the best strong buy stocks to buy under $10. In a report released on July 24, Ed Engel from Compass Point maintained a Buy rating on TeraWulf Inc. (NASDAQ:WULF) with a price target of $6.50.

Galaxy Digital (NASDAQ:GLXY)

On May 27, TeraWulf Inc. (NASDAQ:WULF) announced the acquisition of 100% of the membership interests of Beowulf Electricity & Data LLC and its affiliates, collectively known as “Beowulf E&D”.

Management stated that the strategic transaction simplifies TeraWulf Inc.’s (NASDAQ:WULF) corporate structure and also “eliminates a related-party relationship consolidating resources under a unified operating framework”.

TeraWulf Inc. (NASDAQ:WULF) operates and owns data center infrastructure specifically designed for high-performance computing and Bitcoin mining. It primarily leverages environmentally sustainable and zero-carbon energy sources, such as hydroelectric and nuclear power, to power its Bitcoin mining and other operations.

While we acknowledge the potential of WULF to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than WULF and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.