You aren’t alone if you’re nervous about where markets are going. Though economic and stock news alike points toward renewed national financial and monetary strength, on-the-ground vibes seem to negate the apparent facts. And, though we can’t always pick stocks to buy now on a vibes-based investment thesis, it’s important to keep the overall uneasy consumer sentiment in mind even as the stock market hits new all-time highs.
That’s why finding stocks to buy now isn’t easy – did you miss the boat on Nvidia (NASDAQ:NVDA)? Or will it keep ripping post-split? Is Apple’s (NASDAQ:AAPL) OpenAI partnership a strategic blunder or the next step in consumer electronics?
There’s just too much uncertainty in today’s markets, but these diverse stocks to buy now offer a wider perspective while creating long-term speculative opportunities undergirded by a firm foundational of perennial winners.
Tesla (TSLA)
Tesla (NASDAQ:TSLA) is the easiest pick among the many stocks to buy now. It scored a win after the recent shareholder vote to approve Elon Musk’s 2018 pay package and move operations from Delaware to Texas. The stock didn’t react as many expected, though, and still trades well below even six-month highs.
The bull case for Tesla is widely stated and doesn’t bear repeating. Though I disagree with the price target, ARK Invest’s summary of Tesla’s long-term potential is a great analysis of the overall market and Tesla’s unique positioning moving forward.
More importantly, though, Tesla’s shareholder vote win marks a major milestone in corporate law that makes the stock worth buying in its own right. Whether you agree or disagree with the pay package, having a judge legislate from the bench and calling the pay package “an unfathomable sum” before overriding existing board agreements is not how we want corporate governance managed.
Think about it — much like presidential candidates promise to overturn past administrations’ decisions and create a cycle where little ultimately gets done year-to-year, we don’t want completely unrelated third parties (activist shareholders are a different story) stepping in to tell public companies how to do business. That introduces an element of risk and uncertainty that ultimately degrades all U.S.-based stock investing — which is why Musk’s big win is such a big deal and also makes Tesla one of the best stocks to buy now.
Tilray Brands (TLRY)
Tilray Brands (NASDAQ:TLRY) stock is back in the gutter, trading nearly 25% below January’s per-share pricing. But I’m a perennial bull toward Tilray and think it’s the only standout company among cannabis stocks to buy now.
Specifically, I think that Tilray’s craft beer business is a huge deal that is overlooked by the wider investment class. Following its 2023 brand acquisitions from Anheuser-Busch (NYSE:BUD), Tilray’s alcohol sales surged more than 100%, providing a much-needed source of sale diversification in a crowded cannabis market.
Moreover, many overlook the craft beer segment’s latent potential. When — not if — cannabis is recreationally legal to a wider extent, if not federally permissible, Tilray has a baked-in network of production, distribution, and operational facilities, including legal and marketing, that it can tap to push cannabis products nationally. This competitive advantage is huge and, again, mostly goes overlooked.
Tilray is looking to expand again, seeking $250 million to fund strategic acquisitions and peripheral business investments. Of course, the offering will be dilutive, but that makes the per-share pricing all the more sweet for long-term investors wanting to capture some sector upside among cannabis stocks to buy now.
Apple Hospitality REIT (APLE)
Improved consumer sentiment and summer travel season are colliding, and few stocks to buy now are set to capture that unique investment intersection than Apple Hospitality REIT (NYSE:APLE). Apple Hospitality owns more than 200 hotel properties in America and leases them to top-tier hoteliers like Marriot (NASDAQ:MAR) and Hilton (NYSE:HLT). With a 6.5% dividend yield, Apple Hospitality is beating fixed-income options while offering upside to some of the priciest properties with the most reliable tenants in the business.
The company’s most recent quarterly report included a solid funds from operations boost to $83.24 million, up from $78.96 million the prior year. Funds from operations are a real estate investment trust-centric stand-in for earnings, so Apple Hospitality’s stat spiking over a relatively depressed travel cycle means big things moving forward.
Moreover, Apple Hospitality is capturing upside from increased business travel rates, with midweek bookings increasing substantially over the quarter. This means that Apple Hospitality is set to take advantage of the summer leisure travel season while maintaining stability with business travel and keeping beds occupied throughout the workweek.
AST SpaceMobile (ASTS)
Small-cap space stock AST SpaceMobile (NASDAQ:ASTS) could be this year’s standout performer among stocks to buy now. This space-based telecommunications stock, dedicated to providing global data coverage directly to standard cell phones, surged over 300% in the past month, achieving a 104% gain year-to-date.
This remarkable rise follows the announcement of substantial contracts with established telecom giants AT&T (NYSE:T) and Verizon (NYSE:VZ) to extend cellular services to geographically isolated and remote areas globally. The Verizon contract alone is valued at $100 million, while AT&T’s deal builds on a January strategic investment of $20 million and six years of collaborative tech testing and prototyping.
Additionally, AST SpaceMobile has taken significant strides toward revenue generation, recording $500,000 in net sales from government contracts in the last quarter. Though modest considering its recent surge, this revenue is a crucial step toward profitability and signals the beginning of broader operational opportunities for the company.
Great Lakes Dredge & Dock (GLDD)
Great Lakes Dredge & Dock (NASDAQ:GLDD) provides a vital service that often flies under the radar of most retail investors, making it an overlooked play among stocks to buy now. This company specializes in deepening, dredging, and expanding waterways along coasts and within ports, playing a crucial role in global trade and supply chains. This function positions it as a somewhat recession-proof investment, while its work in coastal beach reclamation ties it to efforts in climate change management.
Great Lakes’ recent financial report shows strength post-pandemic in a sector that suffered more than most and for longer. The company’s EBITDA hit $43 million, the highest since the end of 2021, and marks a period of imminent resurgence for the stock.
Looking ahead, Great Lakes stands to benefit from a record-setting budget of $8.7 billion from the U.S. Army Corps of Engineers, which spells a robust bidding environment ripe for securing steady contract cash flows. With a dredging backlog of $879 million, the company can easily project future income, further stabilizing its financial outlook as supply chains stabilize.
Buzzfeed (BZFD)
If you’re surprised to see struggling media company Buzzfeed (NASDAQ:BZFD) listed among these stocks to buy now, let me explain. Buzzfeed faced its share of challenges, including declining quality and controversies over plagiarism, undue advertiser influence, and a series of unpopular political stances that have alienated many readers. These and other issues have led to its classification by Fairness & Accuracy in Reporting as having a political bias that is “borderline creepy.” This backdrop sets the stage for former presidential candidate and activist investor Vivek Ramaswamy, who recently acquired a 7.7% stake in Buzzfeed, aiming to enact significant changes — and I think he’s just the activist investor to re-right the ship.
Ramaswamy, a Republican, plans to engage with Buzzfeed’s board and management to discuss various operational and strategic opportunities to enhance shareholder value, including a strategic shift for the company. His move likely stems from a perceived lack of quality independent media outlets, and he is pushing for greater transparency, objectivity, and quality in media reporting. While Buzzfeed’s management has shown resistance, Ramaswamy’s Strive Asset Management, though a relatively new player, is quickly becoming influential in activist investing circles and may pave the way toward a new era in hyper-targeted media marketing.
Sharkninja (SN)
Considering the current economic conditions, labeling what seems like a typical consumer discretionary stock and appliance manufacturer as one of the best stocks to buy now may initially seem misplaced—until you examine Sharkninja’s (NYSE:SN) impressive long-term trading chart. With a consistent 20% compounded annual growth rate in sales since 2008, Sharkninja has successfully navigated through multiple economic downturns. Even “Downtown” Josh Brown, the CEO of Ritzholz Wealth Management, thinks that Sharkninja is one of today’s hottest stocks and recently added it to the firm’s holdings.
Since its IPO last summer, Sharkninja’s stock already delivered a 77% return to its early investors, outstripping the S&P 500’s performance threefold during the same period and showing no signs of slowing down. The company’s most recent quarterly report highlighted a remarkable 25% increase in sales, particularly notable against the backdrop of significant sales drops from major retailers like Target (NYSE:TGT). With its solid market presence and extensive product lineup, Sharkninja stands out as one of today’s most viable long-term stocks to buy now.
On the date of publication, Jeremy Flint held no positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.