5 Best High Risk Stocks to Buy Right Now

2. Pinterest, Inc. (NYSE:PINS)

Number of Hedge Fund Holders: 63 

52-Week Range: $44.04-$89.90

The social media space has become overcrowded and smaller companies are finding it hard to stay relevant as giants take over the industry. Pinterest, Inc. (NYSE:PINS), the California-based visual discovery platform, has over the years lost a lot of users to competitors like Instagram. However, the company has managed to post decent numbers despite the tough competition and there were reports recently that PayPal, the payments giant, is possibly exploring the acquisition of the firm.  

As Facebook and Google battle antitrust issues, Pinterest, Inc. (NYSE:PINS) has a chance to step in and present itself as an alternative social platform. The firm beat market expectations on earnings per share by $0.12 in the second quarter. 

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Alkeon Capital Management is a leading shareholder in Pinterest, Inc. (NYSE:PINS) with 4.5 million shares worth more than $356 million. 

In its Q1 2021 investor letter, Carillon Tower Advisers, an asset management firm, highlighted a few stocks and Pinterest, Inc. (NYSE:PINS) was one of them. Here is what the fund said:

“Pinterest is an operator of a pinboard-style social media website that enables users to create theme-based image collections for events, hobbies, and other personal interests. The firm delivered another quarter of both earnings and forward guidance above investor expectations, sending shares higher. Strength was driven by notable user growth and a return of advertising spending. We remain excited about an increase in video content, new analytics tools for advertisers, and an increasing shift towards ecommerce.”