5 Best NFT Stocks to Buy Now

1. Twitter, Inc. (NYSE: TWTR)

Number of Hedge Fund Holders: 107   

Twitter, Inc. (NYSE: TWTR) is ranked first on our list of 10 best NFT stocks to buy now. The company owns and operates a microblogging platform. It has a market cap of over $50 billion and posted more than $3.7 billion in revenue last year. In March this year, Jack Dorsey, the owner of the firm, sold his first tweet as an NFT for over $2.9 million. In late June, technology news platform TechCrunch reported that the company was now making NFTs. The company was founded in 2006. 

On July 30, investment advisory BMO Capital maintained a Market Perform rating on Twitter, Inc. (NYSE: TWTR) stock and raised the price target to $70 from $65, noting that although the rating was neutral, there were possible growth catalysts ahead. 

At the end of the first quarter of 2021, 107 hedge funds in the database of Insider Monkey held stakes worth $4.5 billion in Twitter, Inc. (NYSE: TWTR), up from 78 in the preceding quarter worth $2.7 billion. 

RGA Investment Advisors, in its Q1 2021 investor letter, mentioned Twitter, Inc. (NYSE: TWTR). Here is what the fund has to say in its letter:

“‘The bird has wings’—Twitter’s quarter started off somewhat ominously, with Twitter the worst performing stock in the S&P 500 following the January 6th insurrection and questions about the stickiness of the userbase after permanently suspending the account of President Trump.8 By the end of the quarter, Twitter was one of the best performers in the index after exceptionally strong fourth quarter earnings and guidance for the year and an upbeat analyst day that highlighted a rapidly evolving product roadmap placing the timeline at the center of ephemeral (fleets), long form (Revue) and voice (Spaces). The improvements to the experience makes the platform more accessible and provides more opportunity to continue growing the userbase. Importantly, Twitter also embraced what we have been calling “creative empowerment” in previewing SuperFollows and a host of features designed to help content creators and contributors monetize their own audience on Twitter itself. These developments, alongside considerable progress on the advertising platform give us growing conviction that Twitter will deliver on its largely untapped opportunity—in other words, the value creation opportunity on top of the low multiple we were able to build our position at. Elliot spoke at length about these developments on Yet Another Value Podcast with Andrew Walker and The Business Brew with Bill Brewster, which we invite you to check out.”

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