5 Best Bargain Stocks To Buy Right Now

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1. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 271

YTD Share Price Decline as of June 30: 37.67%

Amazon.com, Inc. (NASDAQ:AMZN) stock has declined about 38% year to date, yet it remains one of the best bargain stocks due to the quality of its underlying business and sheer size. 

Redburn analyst Alex Haissl initiated coverage of Amazon.com, Inc. (NASDAQ:AMZN) on June 29 with a Buy rating and a $270 price target, citing his view that Amazon Web Services is worth $3 trillion or “almost 3x Amazon’s current market cap”. Amazon Web Services’ cost and technology leadership generates market share gains in all areas, the analyst added. 

Among the hedge funds tracked by Insider Monkey, 271 funds reported long positions in Amazon.com, Inc. (NASDAQ:AMZN) at the end of Q1 2022, compared to 279 funds in the preceding quarter. Skye Global Management is one of the top shareholders of the company, with 740,500 shares worth $2.4 billion. 

Here is what Weitz Investment Management Partners III Opportunity Fund has to say about Amazon.com, Inc. (NASDAQ:AMZN) in its Q1 2022 investor letter:

“Amazon.com’s (NASDAQ:AMZN) stock was down modestly in the quarter, but opportunistic purchases helped the position contribute positively to the Fund. Our index short positions against ETFs tracking market indexes provided helpful ballast during the first quarter drawdown but were otherwise detractors for the fiscal year. During the quarter, we covered roughly 20% of our S&P 500 short and 50% of our Nasdaq 100 short at progressively lower prices. Among our long equities, we added materially to high-conviction holdings Amazon.com.”

You can also take a look at Jim Cramer Recommends These 10 Stocks For Recession and Cliff Asness’ Short Position on AMC and His Top 10 Picks

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