Best WallStreetBets Stocks to Buy March Week 4 Roundup

US stocks continued to rebound last week with major indices closing with gains during the week. In the previous week, we saw a steep rise in stocks, especially the beaten-down tech names. Some of the WallStreetBets stocks also spiked during the week and meme stocks like GameStop and AMC Entertainment also saw buying interest.

Every week we bring to you the best WallStreetBets stocks of the week. Here are five such stocks that should be on your radar.

1. NIO (NYSE: NIO)

WallStreetBets and EV (electric vehicle) stocks have had a long love affair. While Tesla, which is the largest and the most popular EV company, is invariably among the top trending names on the group, currently NIO is also trending on WallStreetBets after reporting its fourth-quarter 2021 earnings.

WallStreetBets loves EV stocks

NIO generated revenues of $1.55 billion in the quarter, which were slightly ahead of what analysts were expecting. Of this almost $1.45 billion was the automotive revenue. The company posted a net loss of $336.4 million in the quarter, which was much higher than what analysts polled by Bloomberg were expecting.

NIO reported a gross margin of 17.2% in the fourth quarter which was similar to the corresponding quarter in 2020 but 310 points lower than the previous quarter. NIO expects to deliver between 25,000-26,000 cars in the first quarter of 2022. It has already delivered 15,783 cars in the first two months of the year which would mean deliveries of only about 10,217 cars in March. The guidance was below Street estimates even as NIO invariably provides very conservative guidance.

NIO is grappling with supply chain issues like other automotive companies. Its CEO William Li said during the earnings call that “We are still faced with the challenges of growing chip supply volatility, raw material cost increases, Covid, and the challenges in the changing international situation.”

WallStreetBets is mixed on NIO stock

While most Wall Street analysts are bullish on NIO stock, the opinion is quite mixed among WallStreetBets members. NIO was among the worst-performing EV stocks in 2021 and is underperforming in 2022 as well. The stock hit a multi-month low earlier this month before rebounding on positive news flow from China where the state media reported that the communist country is looking to end the tech crackdown and support the overseas listing of Chinese companies.

Given NIO’s strong brand, attractive product proposition, the launch of new vehicles, and attractive valuations, it is one WallStreetBets stock that should be on your radar.

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2. Meta Platforms (NYSE: FB)

Facebook parent Meta Platforms is the second-worst performing FAANG stock of 2022, behind Netflix. The stock had tumbled following its fourth-quarter earnings release where it reported the first fall in users since going public. The company’s guidance also spooked markets as it said that it expects Apple iPhone privacy rules to shave off its annual revenues by up to $10 billion. Meanwhile, after the steep decline, there has been some value buying and the stock has rebounded from its lows.

WallStreetBets find Meta Platforms attractive

Meta Platforms valuations are tempting. WallStreetBets, Wall Street analysts as well as Mohnish Pabrai see the stock as a good buy at these levels, with Pabrai terming it an “easy double” without even accounting for the metaverse business.

Meta Platforms is the cheapest FAANG stock. The company has a strong moat in the core social media business and is taking the first-mover advantage in metaverse by investing billions of dollars. Despite several risks and headwinds, Meta Platforms looks like another WallStreetBets stock worth considering.

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3. Apple (NYSE: AAPL)

Apple is another long-time favorite WallStreetBets stock and is currently among the top trending names in the group. While 2022 started on a good note for the iPhone maker and its market cap surpassed $3 trillion on the first trading day of the year itself, it has since come down amid the broader market sell-off.

Evercore ISI sees Apple stock running higher

Evercore ISI analyst Amit Daryanani believes that in the bull case scenario Apple stock can rise 70% citing upcoming “multi-billion opportunities.” He said, “We see several moonshot opportunities that could enable and drive not just sizable EPS upside but also importantly could help drive a higher valuation.” Daryanani added, “While its always difficult to stack up the growth vectors, we think they could be a host of opportunities.”

At its product event earlier in March, Apple announced the long-awaited budget iPhone SE. The model is the successor to the 2020 model and features 5G connectivity along with the A15 processor and is now available in stores.

Apple also teased a Mac Pro at the event but more details about the product would be out later. The company is also expected to launch AR/VR headsets with some analysts expecting a launch as soon as this year.

Apple is loved by both Buffett and WallStreetBets

Apple is equally loved by both Warren Buffett and WallStreetBets. It is Berkshire Hathaway’s largest holding by a big margin and Buffett has praised Apple and its CEO, Tim Cook, on multiple occasions.

In his annual letter, Buffett said of Cook that he “quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well.”

Wall Street analysts also see the stock running higher despite the geopolitical turmoil. If you are looking to buy a WallStreetBets stock for the long term, Apple should definitely be on your radar.

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4. Tilray (NYSE: TLRY)

Tilray stock rebounded last week and WallStreetBets took note. The stock is among the top trending names in the group. Notably, in 2021, when the group was at its peak, it had triggered a short squeeze in Tilray stock ahead of its merger with Aphria.

WallStreetBets lives Tilray on hopes of legalization

The Marijuana Opportunity, Reinvestment, and Expungement (MORE) Act, which looks to legalize marijuana at the federal level in the US, would come up for voting next week. This charged up cannabis bulls and all the marijuana stocks rebounded on Friday.

Tilray has been positioning its business for eventual federal legalization in the US. Earlier this month, TLRY announced a partnership with Hexo and said that it would acquire up to US$211 million of Hexo’s senior secured convertible notes. The notes have been amended to give Tilray the right to convert the investment into equity at Canadian dollars 0.90 per share.

Last year, Tilray announced an investment into US cannabis dispensary MedMen and plans to increase the investment further. This would provide TLRY would a foothold in the US cannabis market.

If you want exposure to the cannabis industry, Tilray is one WallStreetBets stock that you can consider.

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5. iPath Pure Beta Crude Oil ETN (NYSE: OIL)

Mostly, WallStreetBets members discuss individual stocks but at times the group also discussed ETFs. Currently, five ETFs, namely GLD, OIL, TQQQ, QQQ, and CORN are quite popular among WallStreetBets members.

WallStreetBets like OIL amid the Russia-Ukraine crisis

Energy prices have spiked amid the Russia-Ukraine crisis and are expected to rise even further. One way to play rising energy prices is to trade in OIL ETF. ETF investing has become very popular and total ETF assets are now around $7 trillion.

ETFs can be a good investing strategy, especially for investors who lack the time or analytical skills to pick individual stocks. Their low expense ratio makes them an attractive investment option.

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