5 Hot stocks to buy now

In this article, we discuss 5 best hot stocks to buy now. If you want to see more stocks in this selection, check out my other articles

The US GDP grew by 2.9% in the fourth quarter of 2022, topping consensus estimates of 2.8% from economists polled by Dow Jones. This growth was higher than expected, despite concerns about a potential recession. According to the IMF’s latest forecast, the global economic growth is expected to decrease from 3.4% in 2022 to 2.9% in 2023, and then recover to 3.1% in 2024. The 2023 forecast is slightly better than what was predicted in October 2022, but still lower than the average growth rate of 3.8% from 2000-2019.

The increase in central bank interest rates to curb inflation and the ongoing conflict in Ukraine are affecting global economic activity. The COVID-19 pandemic initially slowed growth in 2022, but the recent easing of restrictions has led to a faster-than-anticipated recovery. The forecast for global inflation is to decrease from 8.8% in 2022 to 6.6% in 2023 and 4.3% in 2024, although it remains higher than pre-pandemic levels of around 3.5%.

With all of these factors stocks have had a very good start to the year in 2023 will the market rallying a lot and recovering back some of last years losses so now it is a good time to invest and get in the market

AMC Entertainment Holdings, Inc. (NYSE:AMC) is a Kansas-based company that owns, operates, and has interests in theaters in the United States and Europe. AMC Entertainment Holdings, Inc. (NYSE:AMC), one of the largest movie theater chains in the world, experienced a difficult 2022, with its stock declining 76% due to several factors, including low box-office returns, a shortage of major productions, and changes in theater attendance patterns caused by the ongoing COVID-19 pandemic. Despite the challenges of 2022, the release of Disney's Avatar: The Way of Water at the end of December gave a boost to both box-office revenue and theater attendance. This has had a positive impact that has continued into the new year. Year-to-date as of February 6, AMC Entertainment Holdings, Inc. (NYSE:AMC) stock has climbed 63%.

On January 30, AMC Entertainment Holdings, Inc. (NYSE:AMC) filed a proxy with the SEC detailing two proposals that are necessary to convert its preferred equity units into common shares. According to B. Riley analyst Eric Wold, the preferred equity unit holders control 64% of the combined holdings and may not get another chance to extract value from those units. Hence, the analyst expects the proposals to pass, which could open the door for the company to raise more equity in the coming years. This could help AMC Entertainment Holdings, Inc. (NYSE:AMC) eliminates all debt and pursues additional diversification options for growth in the media industry. The analyst has a Neutral rating on AMC's shares with a $4.50 price target and sees potential for a positive outcome in the mid-March vote.

According to Insider Monkey’s Q3 data, 17 hedge funds were long AMC Entertainment Holdings, Inc. (NYSE:AMC), compared to 18 funds in the last quarter.

C3.ai, Inc. (NYSE:AI) is a California-based company that operates as an enterprise artificial intelligence software company in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. It is one of the best hot stocks to invest in. On February 6, C3.ai, Inc. (NYSE:AI) shares rose more than 5% as investors continued to pour into artificial intelligence stocks. The year-to-date share price gains as of February 6 came in at more than 138%.

On February 2, DA Davidson analyst Gil Luria initiated coverage of C3.ai, Inc. (NYSE:AI) with a Buy rating and a $30 price target. The firm considers C3.ai, Inc. (NYSE:AI) to be a valuable asset in the critical software arena of artificial intelligence, as the emergence of generative AI is seen as a crucial application. The analyst believes that C3.ai, Inc. (NYSE:AI) can capitalize on its investment and experience in AI to generate revenue.

According to Insider Monkey’s third quarter database, 18 hedge funds were long C3.ai, Inc. (NYSE:AI), compared to 17 funds in the last quarter. Jim Simons’ Renaissance Technologies is the biggest position holder in the company, with approximately 3 million shares worth $37 million.

SoFi Technologies, Inc. (NASDAQ:SOFI) is a California-based provider of digital financial services. It operates through three segments – Lending, Technology Platform, and Financial Services. It is one of the best momentum stocks to buy. On January 30, SoFi Technologies, Inc. (NASDAQ:SOFI) stock rose by 8.4% in pre-market trading after the company reported Q4 results that exceeded analyst expectations and the company provided a higher guidance for 2023 adjusted EBITDA. SoFi Technologies, Inc. (NASDAQ:SOFI) is continuing to attract new members for its financial products and is forecasting 2023 adjusted net revenue to be between $1.93 billion to $2.00 billion, compared to the consensus estimate of $1.98 billion. The firm sees adjusted EBITDA of $260 million to $280 million, compared to a consensus of $253.8 million.

On January 31, Citi analyst Ashwin Shirvaikar stated that SoFi Technologies, Inc. (NASDAQ:SOFI) exceeded expectations in Q4 and has outperformed expectations three times since resetting them for the student loan moratorium push-out from Q1 of 2022. The analyst is positive about SoFi Technologies, Inc. (NASDAQ:SOFI)’s push to achieve GAAP profitability by Q4 2023 and the projected positive contribution margins in its faster-growing Financial Services segment. However, questions about growth and its balance sheet expansion/gain-on-sale will persist. Despite these concerns, Citi maintained a Buy rating on SoFi Technologies, Inc. (NASDAQ:SOFI) shares with a $10 price target.

According to Insider Monkey’s data, 25 hedge funds were long SoFi Technologies, Inc. (NASDAQ:SOFI) at the end of September 2022, compared to 22 in the last quarter. Jim Davidson, Dave Roux, and Glenn Hutchins’ Silver Lake Partners is the leading stakeholder of the company, with 31.15 million shares worth $152 million.

Affirm Holdings, Inc. (NASDAQ:AFRM) was founded in 2012 and is headquartered in San Francisco, California. The company's platform for digital and mobile-first commerce includes point-of-sale payment solutions for consumers, merchant commerce solutions, and a consumer-centric app. On February 1, Deutsche Bank analyst Bryan Keane increased the firm's price target on Affirm Holdings, Inc. (NASDAQ:AFRM) from $11 to $18, while maintaining a Hold rating on the shares. The analyst believes that there is "more muted upside" compared to consensus estimates and the company's guidance for both Q2 and the fiscal year 2023 due to the potential for an upcoming economic slowdown. However, the price target was raised to reflect the recent increase in valuations among consumer lending fintechs in the same peer group.

According to Insider Monkey’s data, 26 hedge funds held long positions in Affirm Holdings, Inc. (NASDAQ:AFRM) as of the end of Q3 2022, compared to 27 funds in the last quarter. Colin Moran’s Abdiel Capital Advisors is a significant position holder in the company, with 2.17 million shares worth $40.7 million. Affirm Holdings, Inc. (NASDAQ:AFRM) is one of the best momentum stocks to buy according to smart investors.

Coinbase Global, Inc. (NASDAQ:COIN) offers technology and financial infrastructure for the global crypto economy. It was founded in 2012 and is based in Wilmington, Delaware. Coinbase Global, Inc. (NASDAQ:COIN) is one of the best momentum stocks to monitor. Year to date, the stock has climbed nearly 120% as of February 6 and the average 3-month trading volume came in at 17.28 million.

On January 20, JPMorgan analyst Kenneth Worthington raised the firm's price target for Coinbase Global, Inc. (NASDAQ:COIN) from $53 to $60 and maintained a Neutral rating on the shares. The analyst stated that the recent surge in cryptocurrency prices in early 2023 has had a positive impact on broker/exchanges like Coinbase, as higher volumes and prices help the company's performance. He believes that although the crypto ecosystem has had credibility issues, Coinbase Global, Inc. (NASDAQ:COIN) has emerged with its credibility and brand strengthened compared to other brokers/exchanges following the collapse and bankruptcy of FTX.

According to Insider Monkey’s Q3 data, 28 hedge funds were bullish on Coinbase Global, Inc. (NASDAQ:COIN), compared to 29 funds in the last quarter. Cathie Wood’s ARK Investment Management is the largest stakeholder of the company, with 7.71 million shares worth $497.6 million.