10 Most Volatile Stocks To Buy Right Now

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1. Tesla (NASDAQ:TSLA)  

Number of Hedge Fund Investors: 85  

Beta: 2.29

Tesla (NASDAQ:TSLA) is a pioneer in electric vehicle (EV) manufacturing and renewable energy. The company is known for its innovative approach to sustainable transportation and designs and produces electric cars, energy storage solutions, and solar products.

Tesla (NASDAQ:TSLA) is poised for a significant catalyst this month as its robotaxi event is scheduled for October 10, followed closely by its Q3 earnings release. This event is expected to shed light on the company’s autonomous vehicle capabilities, particularly its Full Self-Driving (FSD) technology, and provide insight into the market availability of its robotaxi service. While the electric vehicle market is experiencing slowing growth and increasing competition, Tesla’s (NASDAQ:TSLA) high gross margins and potential in the autonomous vehicle space remain a compelling narrative for investors.

According to a report by Fortune Business Insights, the autonomous driving market is expected to grow significantly, with a CAGR of 32% over the next six years, and will reach $39 billion by 2030. As Tesla (NASDAQ:TSLA) transitions into the high-potential market of autonomous vehicles, its shares continue to hold long-term potential and offer investors a promising opportunity for growth. As of the second quarter, 85 hedge funds own shares of the company with a combined value of $4.97 billion.

While we acknowledge the potential of Tesla (NASDAQ:TSLA) to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than TSLA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: $30 Trillion Opportunity: 15 Best Humanoid Robot Stocks to Buy According to Morgan Stanley and Jim Cramer Says NVIDIA ‘Has Become A Wasteland’.

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