5 Best Stocks to Buy According to Michael Burry

1. Facebook, Inc. (NASDAQ: FB) CALL

Number of Hedge Fund Holders: 266   

Facebook, Inc. (NASDAQ: FB) is ranked first on our list of 10 best stocks to buy according to Michael Burry. The firm owns and runs social media platforms and operates from California. Latest filings show that Scion Asset Management owned CALL options on 941,200 shares in the social media firm at the end of the second quarter of 2021, representing 15.7% of the portfolio. The shares are worth more than $327 million. Burry has increased stake in the firm by 72% compared to the first quarter of 2021. 

On July 29, investment advisory Evercore maintained an Outperform rating on Facebook, Inc. (NASDAQ: FB) stock and raised the price target to $450 from $400, noting that the long-term view on the stock was bullish. 

At the end of the second quarter of 2021, 266 hedge funds in the database of Insider Monkey held stakes worth $42 billion in Facebook, Inc. (NASDAQ: FB), up from 257 in the preceding quarter worth $40 billion. 

In its Q1 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Facebook, Inc. (NASDAQ: FB) was one of them. Here is what the fund said:

“We continued to keep our learnings from 2020 in mind during the quarter as we sought to increase the up capture of the portfolio. We also made adjustments to the portfolio’s top 10 holdings to increase the participation of select stocks, including Facebook, while trimming our weighting to stable names, which now represent 47% of the portfolio. Our repositioning has been encouraging so far with the portfolio performing better on up days in the market while maintaining good down capture during more turbulent sessions.”

You can also take a peek at 10 Best Dividend Stocks to Buy According to Michael Burry and 10 Best Cheap Stocks to Buy According to Michael Burry.

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