13 Best Meme Stocks To Buy Right Now

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7. Genius Sports Limited (NYSE:GENI)

Number of Hedge Fund Holders: 32

Genius Sports Limited (NYSE:GENI) develops and sells technology-driven products and services for the sports, sports betting, and sports media industries. While it is not a traditional meme stock, Genius Sports has gained attention among retail investors on Reddit’s WallStreetBets due to the growth potential in sports betting and the opportunities within this market. On March 6, Needham increased its price target for GENI from $12 to $13 while maintaining a Buy rating on the stock. The adjustment reflects the company’s stronger-than-expected fiscal year 2025 guidance, which forecasts 20% revenue growth and relatively stable incremental margins.

Genius Sports Limited (NYSE:GENI), one of the best meme stocks, saw a 38% year-over-year revenue increase in Q4, reaching $176 million. For the full year, revenue rose 24% to $511 million, aligning with its raised guidance. This growth was driven by strategic, commercial, and financial initiatives aimed at strengthening the business for long-term success. The company also improved its cash flow, generating $82 million in operating cash for 2024, more than five times the amount from the previous year. By year-end, its net cash balance grew by $9 million, reaching $135 million.

According to Insider Monkey’s fourth quarter database, 32 hedge funds were bullish on Genius Sports Limited (NYSE:GENI), in contrast to the previous quarter when 27 funds had invested in the stock. Travis Cocke’s Voss Capital held the biggest position in the company, with 7.92 million shares valued at $68.5 million.

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