Wasatch Micro Cap Fund recently released its Q2 2021 Investor Letter, a copy of which you can download here. The fund posted a return of 3.11% for the quarter, underperforming its benchmark, the Russell Microcap Index which returned 4.14% in the same quarter. You should check out Wasatch’s top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.
In the Q2 2021 Investor Letter, the fund highlighted a few stocks and Motorsport Games Inc. (NASDAQ:MSGM) is one of them. Motorsport Games Inc. (NASDAQ:MSGM) develops and publishes multi-platform racing video games in the United States. In the last three months, Motorsport Games Inc. (NASDAQ:MSGM) stock gained 21%. Here is what the fund said:
“The greatest detractor from Fund performance for the quarter was Motorsport Games, Inc. (MSGM). The company develops and publishes racing video games for consoles, personal computers and mobile devices. A drawdown of cash resources from recent acquisitions has made the firm’s coming release of a highly anticipated new game even more critical, keeping many investors on the sidelines. We believe the new game will be successful and added to the Fund’s position in the stock.”
At the end of the first quarter, a total of 6 of the hedge funds tracked by Insider Monkey held long positions in Motorsport Games Inc. (NASDAQ:MSGM) stock, a change of 6 from the previous quarter (see the chart here), so a number of other hedge fund managers believe in MSGM’s growth potential. Our calculations showed that Motorsport Games Inc. (NASDAQ:MSGM) isn’t ranked among the 30 most popular stocks among hedge funds.
The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.
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Disclosure: None. This article is originally published at Insider Monkey.
