11 Best New Company Stocks to Buy in 2017

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  1. Snap Inc (NYSE:SNAP)
  2. – Number of Hedge Funds With Long Positions (as of March 31): 32
    – Aggregate Value of Hedge Funds’ Holdings (as of March 31): $970 million

    One of the most prominent IPOs of the last year, Snap Inc (NYSE:SNAP) nonetheless fails to top our list of the 11 best new company stocks to buy in 2017. 32 hedge funds were long the stock on March 31, a modest amount for a relatively high-profile IPO. Snap also ranks as the most shorted tech IPO of 2017, with 28% of the stock’s float being sold short. Shares are barely hovering above the stock’s IPO price of $17 as Snap faces intense pressure from Facebook Inc (NASDAQ:FB)‘s Instagram, which continues to ‘borrow’ some of Snap’s most popular features. The latest such feature to be emulated was Snap’s Memories archive function, which Facebook just released a similar version of dubbed (rather blandly) Archive. Tech investor Philippe Laffont of Coatue Management took one of the largest stakes in Snap during the first quarter, amounting to 20.96 million shares.

    Snap Inc (NYSE:SNAP)

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    Follow Snap Inc (NYSE:SNAP)

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