Traders Are Actively Buying These Stocks Right Now

With markets skyrocketing on lower-than-expected inflation, which raises the likelihood of more interest rate hikes, the bulls are out.

In fact, some of their top picks of the day include:

Opendoor Technologies 

Up about $1 a share, with over 63 million shares trading hands, Opendoor Technologies (NASDAQ: OPEN) has been rocketing on news that it will accept cryptocurrency for home purchases. The crypto-payment plan is meant to modernize homebuying and appeal to new tech-savvy customers. 

As noted by Coin Central, “CEO Kaz Nejatian addressed a question from a social media user about the possibility of using cryptocurrencies for real estate purchases. He confirmed, ‘We will. [We] just need to prioritize it.’ While the CEO did not provide specifics about which cryptocurrencies would be accepted or a timeline for the integration, this statement was enough to excite investors and spark a rally in the company’s stock price.” 

Better, the company’s co-founder and Director, Eric Wu, added 300,752 shares of OPEN stock at $6.65 per share. President Shrisha Radhakrishna also bought shares worth $128,340. 

Rigetti Computing and D-Wave Quantum 

Up about $2 a share on trading volume of 265 million, Rigetti Computing (NASDAQ: RGTI) is still rallying on speculation that the Trump Administration could take a stake in quantum computing stocks. 

D-Wave Quantum (NYSE: QBTS) is up about $2.20 on the day.

As noted by Forbes, “The [quantum computing] companies are reportedly vying for federal funding awards intended for promising technology companies. According to the Journal, the companies that agree to the deal could receive funding awards from the federal government worth at least $10 million each.”

Plug Power 

Plug Power (NASDAQ: PLUG) has been gaining momentum with upgrades.

Today, volume is at 31.9 million, which is below its daily average volume of 100 million.

However, as we’ve seen over the last few days, its intraday volume has spiked daily from between 149 million to 198.2 million. PLUG is up slightly this morning.

Analysts at H.C. Wainwright raised their price target on PLUG to $7 from $3, citing surging power costs that make green hydrogen more competitive. The firm has a buy rating on the stock. Analysts at TD Cowen also raised their price target on PLUG to $4.50 with a buy rating following meetings with PLUG’s CFO, which outlined a roadmap to profitability.