13 Best Meme Stocks To Buy Right Now

9. GameStop Corp. (NYSE:GME)

Number of Hedge Fund Holders: 24

GameStop Corp. (NYSE:GME) is a retailer that sells video games and entertainment products both in stores and online across the US, Australia, Canada, and Europe. The company offers new and pre-owned gaming consoles, video games, in-game currency, and digital downloads. GameStop is often categorized as one of the best meme stocks. On March 3, the company and Zip Co., a digital financial services company focused on flexible payment solutions, announced a partnership making Zip the primary provider of pay-in-installments services for GameStop customers both online and in stores across the United States.

In the third quarter of 2024, GameStop Corp. (NYSE:GME) reported a net income of $17.4 million, a big turnaround from the $3.1 million net loss in the same quarter last year. By the end of Q3, the company held $4.616 billion in cash, cash equivalents, and marketable securities. Additionally, GameStop completed its previously announced at-the-market equity offering, selling 20 million shares and generating approximately $400 million in gross proceeds.

According to Insider Monkey’s fourth quarter database, 24 hedge funds were bullish on GameStop Corp. (NYSE:GME), up from 16 funds in the preceding quarter. Ken Griffin’s Citadel Investment Group was among the largest stakeholders of the company, with 3.66 million shares valued at $114.6 million.