5 Stocks Both Reddit’s WallStreetBets and Hedge Funds Love

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1. Tesla, Inc. (NASDAQ: TSLA)

Number of Hedge Fund Holders: 62  

Tesla, Inc. (NASDAQ: TSLA) is a California-based electric vehicle maker. It is ranked first on our list of 10 stocks both Reddit’s WallStreetBets and hedge funds love. The stock has returned 181% to investors in the past year. The company has been a favorite of the WallStreetBets forum since more than a year, and retail investors on the forum helped the company register a record rally over the past year that saw share price soar more than 700% before slowing down in April as vehicle deliveries slow down. 

On June 30, investment advisory Deutsche Bank maintained a Buy rating on Tesla, Inc. (NASDAQ: TSLA) stock but lowered revenue and earnings per share estimates for the second quarter results. The bank expects Tesla to report 200,000 vehicle deliveries for the second quarter, down from 207,000 in the previous quarter. 

At the end of the first quarter of 2021, 62 hedge funds in the database of Insider Monkey held stakes worth $10 billion in Tesla, Inc. (NASDAQ: TSLA), down from 68 in the preceding quarter worth $12 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.

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