Best New Stocks To Buy According To Hedge Funds


COVID-19 slowed the IPO market in the United States from March to May 2020. The market began to gather up speed in the fourth quarter of 2020, with 490 initial public offerings raising $101.4 billion. Since the fourth quarter of 2010, the quantity of money earned in Q4 2020 has been at an all-time high. In the first three months of 2021, the number of initial public offerings (IPOs) surged by 677 percent over the same period in 2020. The 2021 IPO market, according to Renaissance Capital’s senior market strategist Mathew Kennedy, is “on fire, historic, and extraordinarily active.”

Here is Insider Monkey’s list of the 11 best new stocks to buy according to hedge funds. DraftKings Inc. is a betting and sports entertainment firm. A total of $927.8 million has been invested in the company by 28 hedge funds. With a $711 million investment, ARK Investment Management is the largest shareholder in DraftKings. Procore Technologies Inc. is a software company that specializes in construction management. PCOR has a $2.08 billion investment held by 28 hedge funds in the second quarter of 2021. The stock price of PCOR is expected to climb higher, according to Wall Street. Mister Car Wash, Inc. is the largest vehicle wash chain in the United States, with 351 locations throughout 21 states providing car washes and other services. With a stock worth over $4.95 billion, Leonard Green & Partners has the highest interest. Opendoor Technologies Inc. is an online marketplace for buying and selling homes. The Tempe, Arizona-based corporation has a $9 billion borrowing capacity to buy homes from owners, remodel them, and resell them for a profit. In 2017, Marqeta Inc. completed $60 billion in transactions. The corporation is a part of a $45 trillion payments industry that is predicted to expand to $80 trillion by the end of this decade. For more details, click 11 Best New Stocks To Buy According To Hedge Funds.