5 Best Stocks For Day Trading

In this piece, we will take a look at the five Best Stocks For Day Trading. If you want to learn more about trading and the economy, then take a look at 12 Best Stocks For Day Trading.

5. Momentus Inc. (NASDAQ:MNTS)

One Week Volatility: 57.22%

Number of Hedge Fund Investors In Q2 2023: 6

Momentus Inc. (NASDAQ:MNTS) is a space company that provides services to satellite firms. The firm scored a win in October when it signed a contract with a satellite company for a delivery mission in 2025.

Six out of the 910 hedge funds part of Insider Monkey’s Q2 2023 database were Momentus Inc. (NASDAQ:MNTS)’s investors. Curtis Schenker And Craig Effron’s Scoggin is the biggest shareholder among these.

4. Torrid Holdings Inc. (NYSE:CURV)

One Week Volatility: 33.94%

Number of Hedge Fund Investors In Q2 2023: 7

Torrid Holdings Inc. (NYSE:CURV) is an American apparel company that sells products for plus sized women. It is a consumer discretionary firm, which leaves it susceptible to economic downturns. Its shares are rated Hold on average and the firm has missed analyst EPS estimates in three out of its four latest quarters.

During this year’s second quarter, seven out of the 910 hedge funds surveyed by Insider Monkey had held a stake in the company. Israel Englander’s Millennium Management is Torrid Holdings Inc. (NYSE:CURV)’s biggest stakeholder among these through its $567,617 stake.

3. Gritstone bio, Inc. (NASDAQ:GRTS)

One Week Volatility: 20.91%

Number of Hedge Fund Investors In Q2 2023: 10

Gritstone bio, Inc. (NASDAQ:GRTS) is an American healthcare company that develops treatments for cancer and other diseases. It is another highly rated stock on our list since the average rating is Strong Buy and the firm has beaten analyst EPS estimates in all four of its latest quarters.

After digging through 910 hedge funds for their second quarter of 2023 shareholdings, Insider Monkey discovered ten Gritstone bio, Inc. (NASDAQ:GRTS) investors. Out of these, the largest investor is Steve Cohen’s Point72 Asset Management since it owns $14.7 million worth of shares.

2. Gracell Biotechnologies Inc. (NASDAQ:GRCL)

One Week Volatility: 19.58%

Number of Hedge Fund Investors In Q2 2023: 11

Gracell Biotechnologies Inc. (NASDAQ:GRCL) is another biotechnology company but one that is headquartered in China. It develops cancer treatments, and the firm started dosing patients for a cancer drug trial in the U.S. in September 2023.

Insider Monkey scanned 910 hedge fund portfolios for their shareholdings during this year’s June quarter and found that 11 had held a stake in the company. Gracell Biotechnologies Inc. (NASDAQ:GRCL)’s biggest hedge fund stakeholder is Samuel Isaly’s OrbiMed Advisors through a stake worth $34.4 million.

1. Ebix, Inc. (NASDAQ:EBIX)

One Week Volatility: 20.81%

Number of Hedge Fund Investors In Q2 2023: 16

Ebix, Inc. (NASDAQ:EBIX) is a software company that provides different products to finance and insurance companies. It is one of the most highly shorted stocks on our list since 26% of its floating shares have been sold short.

As of Q2 2023 end, 16 out of the 910 hedge funds part of Insider Monkey’s database had invested in Ebix, Inc. (NASDAQ:EBIX). Out of these, the firm’s largest investor is D. E. Shaw’s D E Shaw since it owns 709,019 shares that are worth $17.8 million.

Disclosure: None. You can also take a look at 10 Best Canadian ETFs and 13 NASDAQ Stocks with Lowest PE Ratios.

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