5 Best Multibagger Stocks to Buy Now

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1. Meta Platforms, Inc. (NASDAQ:META)

Number of Hedge Fund Holders: 242

1-Year Share Price Gain as of April 19: 125.78%

Meta Platforms, Inc. (NASDAQ:META) operates through the Family of Apps and Reality Labs segments. Meta Platforms, Inc.’s (NASDAQ:META) share price is up by 125.78% in the last 12 months, as of April 19. The stock tops our list of best multibagger stocks to buy now.

242 hedge funds held positions in Meta Platforms, Inc. (NASDAQ:META) at a total stake value of $50.88 billion in the fourth quarter of 2023. As of December 31, 2023, GQG Partners is the biggest shareholder in the company with a position worth $3.9 billion.

Diamond Hill Capital stated the following regarding Meta Platforms, Inc. (NASDAQ:META) in its fourth quarter 2023 investor letter:

“Other top Q4 contributors included Meta Platforms, Inc. (NASDAQ:META) and Microsoft. Social media platform Meta’s digital ad revenues increased during the quarter, while it continued cutting costs — a combination which generated better-than-expected revenues and profits. Shares of software and information technology services provider Microsoft rose as its Azure cloud business continues growing and the company continues capitalizing on its attractive recurring revenue-based model to drive growth.”

Follow Meta Platforms Inc. (NASDAQ:META)

Should you invest $1,000 in Uber Technologies, Inc. (NYSE:UBER) right now?

Before you buy stock in UBER, consider this:

The Insider Monkey Quarterly Newsletter just identified what we believe are the 14 best stocks for investors to buy now… and UBER wasn’t one of them. The 14 stocks that made the cut could produce monster returns in the next few months.

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Disclosure: None. You can also look at the 11 Best Low Price Pharma Stocks To Invest In and 15 Best Places to Retire in Maryland.

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