The 5 Stocks Billionaire Louis Bacon Can’t Stop Buying

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1. Fisker Inc (NYSE:FSR)

Value of Moore Capital Management‘s 13F Position: $109 million

Number of Hedge Fund Shareholders: 16

Billionaire Louis Bacon’s top stock pick by a substantial amount is electric carmaker Fisker Inc (NYSE:FSR), which Moore Capital owned 8.45 million shares of on March 31, up 1% quarter-over-quarter. Other hedge funds were pulling their money out of the company in Q1, as there were just 16 hedge funds long FSR at the end of the quarter, down from 21 at the start of it. Billionaire George Soros’ Soros Fund Management was among the funds selling off their positions in FSR during the first quarter.

Fisker Inc (NYSE:FSR) shares are down by 47% this year due to a confluence of market-related and other factors, most notably the decreased investor appetite for risk. The company also disappointed investors in May when it announced that it would raise $350 million through a share sale, which came at a time when shares were already down by 40% this year.

Fisker Inc (NYSE:FSR) plans to start production of its Fisker Ocean all-electric SUV in November, for which it has already surpassed 50,000 orders. Fisker expects to deliver its 5,000 launch edition Fisker Ocean Ones by next September, and has reportedly begun asking early reservation holders for non-refundable $5,000 deposits. The company has another planned EV that will be revealed in the latter half of next year, with production of that vehicle starting up in 2024.

For more of the latest stock picks worth considering for your portfolio, check out 10 Best Monthly Dividend Stocks to Buy in July and 10 Stocks to Buy According to Stephen DuBois’ Camber Capital Management.

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