Top 5 High Conviction Stocks to Buy According to Hedge Funds

3. Meta Platforms, Inc. (NASDAQ:META)

Number of Hedge Fund Holders: 262

Meta Platforms, Inc. (NASDAQ:META) is one of the top high-conviction stocks to buy according to hedge funds. Reuters reported on June 9 that EU antitrust regulators ordered Meta Platforms, Inc. (NASDAQ:META) to give rival AI chatbots, such as OpenAI, free access to WhatsApp while their investigation continues about whether the company abused its market power through the blocking of competitors from the messaging app. The European ​Commission’s issuance of an interim measure against the company came after complaints from The Interaction Company of ​California, developer of the Poke.com AI assistant, a Spanish ⁠rival, and a French AI startup Agentik.

An investigation was opened by the Commission, the EU’s competition enforcer, following the complaints, which then issued charges against Meta Platforms, Inc. (NASDAQ:META) two months later, alleging breaches of EU antitrust rules. Reuters further reported that additional charges were issued in April after the company levied ​access fees. Teresa Ribera, EU antitrust chief, stated that EU antitrust chief, stated that Meta Platforms’ (NASDAQ:META) fees were so high that it was not economically sustainable for competitors, and the company’s justification failed to convince.

Meta Platforms, Inc. (NASDAQ:META) builds technological products that allow people to share, connect, grow businesses, and find communities. These products help people connect through personal computers, mobile devices, virtual reality (VR), mixed reality (MR) headsets, and wearables.