5 Best WallStreetBets Stocks To Buy Now

2. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 240

Shares of Amazon.com, Inc. (NASDAQ:AMZN) have surged 20.36% year to date, as of March 31. The stock has been trending on WallStreetBets lately and is placed second on our list of the best WallStreetBets stocks.

On March 29, Citi analyst Ronald Josey maintained a Buy rating and his $145 price target on Amazon.com, Inc. (NASDAQ:AMZN).

Amazon.com, Inc. (NASDAQ:AMZN) was held by 240 hedge funds at the close of Q4 2022. These funds disclosed collective positions worth $27.5 billion in the company. As of December 31, Harris Associates is the top investor in the company and has a stake worth $1.62 billion.

Matrix Asset Advisors made the following comment about Amazon.com, Inc. (NASDAQ:AMZN) in its Q4 2022 investor letter:

“In the 4th quarter, we started a new position in Amazon.com, Inc. (NASDAQ:AMZN) and trimmed the position in Schlumberger (SLB) on price strength.

Amazon is a leading mega-cap e-commerce and cloud computing company. Since starting in a small house in Seattle, WA, Amazon became one of the major tech disruptors of its generation with leading market shares in E-Commerce Retailing (40% market share) and Cloud Computing (33% market share). After hitting a record high of $188 in late 2021, Amazon’s shares have fallen by more than 50% to a recent price below $90 per share. While not a traditional Value stock based on its current P/E, the company is now trading near the bottom of its historical valuation range on several other valuation metrics. We believe the worries about a slowdown in its business from the past few years of supercharged Covid economy growth provide an opportunity to buy a great company at a very attractive price.”