5 Best Roth IRA Stocks to Buy According to Reddit

1. Tesla, Inc. (NASDAQ: TSLA)

Number of Hedge Fund Holders: 62    

Tesla, Inc. (NASDAQ: TSLA) is an electric vehicle company with a large stake in the clean energy business as well. It is ranked first on our list of 10 best Roth IRA stocks to buy according to Reddit. The stock has returned 182% to investors in the past year. The company is one of the most mentioned stocks on Reddit forums. Although the stock has pulled back in recent weeks after registering record highs earlier this year, it still has a lot of room to run as the adoption of electric vehicles continues to increase across the globe. 

On July 2, Tesla, Inc. (NASDAQ: TSLA) announced that it had delivered 201,250 vehicles in the second quarter of 2021, down from around 207,000 deliveries in the previous quarter, but satisfying market predictions which had been between 180,000 to 230,000 vehicles, with the 200,000 mark identified as a key threshold.

Out of the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in Tesla, Inc. (NASDAQ: TSLA)  with 24.4 million shares worth more than $16.3 billion.

Here is what Baron Partners Fund has to say about Tesla, Inc. (NASDAQ: TSLA) in its Q1 2021 investor letter:

“Tesla, Inc. designs, manufactures, and sells fully electric vehicles, solar products, energy storage solutions, and battery cells. The stock fell during the quarter as a result of general market dynamics and a potential production slowdown due to parts shortages. A refreshed S/X and China Model Y ramp could also have a negative impact on margins in early 2021. We anticipate strong growth and improved margins driven by new production capacity, manufacturing efficiencies, localization of its manufacturing and supply chain, and maturation of Tesla’s full self-driving technology.”

You can also take a peek at 10 Companies that Benefit From Crypto Mining and 10 Best Nickel Stocks to Buy Now.

Follow Insider Monkey on Twitter