5 Best Stocks to Make Money

2. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 60    

Tesla, Inc. (NASDAQ:TSLA) has perhaps been the hottest stock in the market in the past few months, going on an incredible rally that saw share price climb 700% in a few months at the start of the year and then taking a breather through the second quarter before bouncing back in the third, climbing the $1 trillion market cap barrier. The stock has room to climb further after reports that suggest that the company is planning to open a second electric vehicle factory in Shanghai. 

Tesla, Inc. (NASDAQ:TSLA) recently revealed that it had sold 54,391 China-made cars in October and shipped 40,666 of them. Between June and September this year, the firm had produced 237,823 vehicles and delivered 241,391 of them, up 64% and 73% year-on-year, respectively. 

At the end of the second quarter of 2021, 60 hedge funds in the database of Insider Monkey held stakes worth $9 billion in Tesla, Inc. (NASDAQ:TSLA), down from 62 in the previous quarter worth $10 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.”