7 Stocks to Buy Now: June 2024

Market Overview - Current market sentiment is uneasy despite stock market hitting new all-time highs, indicating a disconnect between economic indicators and consumer feelings [1] - The search for stocks to buy is complicated by uncertainty in the market, with notable examples like Nvidia and Apple's partnership with OpenAI raising questions [1] Tesla (TSLA) - Tesla's recent shareholder vote approved Elon Musk's pay package and the relocation of operations to Texas, marking a significant corporate governance milestone [2] - Despite the positive developments, Tesla's stock remains below six-month highs, and the bull case for the company is well-documented but debated [2][3] Tilray Brands (TLRY) - Tilray's stock is currently trading nearly 25% below its January price, but the company is viewed positively due to its craft beer business, which saw over 100% sales growth after acquisitions from Anheuser-Busch [4] - The company is seeking $250 million for strategic acquisitions, which may dilute shares but could benefit long-term investors [5] Apple Hospitality REIT (APLE) - Apple Hospitality is positioned to benefit from improved consumer sentiment and the summer travel season, owning over 200 hotel properties leased to major hotel brands [6] - The company reported a funds from operations increase to $83.24 million, up from $78.96 million year-over-year, indicating strong performance in a recovering travel market [6] AST SpaceMobile (ASTS) - AST SpaceMobile has seen a significant stock surge of over 300% in the past month, driven by contracts with AT&T and Verizon to provide global data coverage [9] - The company recorded $500,000 in net sales from government contracts, marking a step toward profitability [10] Great Lakes Dredge & Dock (GLDD) - Great Lakes specializes in dredging and expanding waterways, showing resilience in a post-pandemic environment with an EBITDA of $43 million, the highest since 2021 [11] - The company is set to benefit from a record $8.7 billion budget from the U.S. Army Corps of Engineers, with a dredging backlog of $879 million ensuring future income stability [12][13] Buzzfeed (BZFD) - Buzzfeed is facing challenges but has attracted activist investor Vivek Ramaswamy, who acquired a 7.7% stake and aims to enhance shareholder value through operational changes [14][15] Sharkninja (SN) - Sharkninja has shown consistent growth with a 20% compounded annual growth rate in sales since 2008, outperforming major retailers and delivering a 77% return since its IPO [16][17] - The company's recent quarterly report indicated a 25% increase in sales, highlighting its strong market presence [17]