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MSFT   207.26 (-1.04%)
FB   261.79 (+1.94%)
GOOGL   1,466.02 (+0.50%)
AMZN   3,144.88 (-0.92%)
TSLA   419.07 (-0.51%)
NVDA   529.03 (+1.46%)
BABA   276.93 (+0.33%)
CGC   14.50 (+2.04%)
MU   50.71 (+1.99%)
GE   6.12 (-1.29%)
AMD   81.77 (+2.88%)
T   28.30 (-0.28%)
F   6.60 (-1.35%)
ACB   4.68 (-2.09%)
GILD   62.10 (-1.19%)
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DIS   125.40 (-0.47%)
BA   163.60 (-1.49%)
BAC   23.77 (-1.33%)
QQQ   275.95 (-0.45%)
AAPL   114.09 (-0.76%)
MSFT   207.26 (-1.04%)
FB   261.79 (+1.94%)
GOOGL   1,466.02 (+0.50%)
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BABA   276.93 (+0.33%)
CGC   14.50 (+2.04%)
MU   50.71 (+1.99%)
GE   6.12 (-1.29%)
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T   28.30 (-0.28%)
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5 Best Cryptocurrency Stocks to Buy Now in 2020

Posted on Friday, June 1st, 2018 by Matthew Paulson
5 Best Cryptocurrency Stocks to Buy NowWall Street has a major crush on cryptocurrency markets that it just can't seem to get over. Stock investors look upon the massive gains earned by early Bitcoin and Ethereum investors with envy. They see the value in blockchain technology and distributed ledgers and want to get in on the action before the markets have fully priced in the impact that cryptocurrencies will have on the economy. While most investors won't put in the effort to open up an account with a private cryptocurrency exchange like Binance or Coinbase, there are still plenty of opportunities to get exposure to cryptocurrencies in the public markets.

Don't be fooled though. Publicly-traded companies know their stock price will skyrocket if they make a blockchain announcement, so companies like Long Blockchain Corp (formerly Long Island Ice Tea Corporation) are making spurious pivots into Blockchain technology to ride the hype train. Does anyone really think that an Ice Tea company will become a major player in cryptocurrency markets?

Fortunately, there are plenty of legitimate companies that stand to gain from the cryptocurrency mega-trend. Here are five cryptocurrency stocks that you might consider for your portfolio

#1 - AMD (NASDAQ:AMD)

Advanced Micro Devices logoBitcoin is mined using high-end specialized hardware packages called ASICs that perform no other function than mining Bitcoin. Creators of newer cryptocurrencies like Ethereum and Dash wanted to make it so that everyone could mine cryptocurrencies, not just centralized mining facilities with specialized hardware in parts of the world with cheap electricity. They changed their hashing algorithms so that anyone with a modern computer and graphics card, like those made by AMD and Nvidia, could mine their coins. 

AMD's Radeon graphics cards are preferred by cryptocurrency miners because they offer superior hashing performance to those produced by Nvidia. By targeting their products toward miners, they have significantly expanded their potential market size by creating products that can be sold to high-end computer gamers and to cryptocurrency miners.

There are plenty of other reasons to like the company as well. AMD's revenue is now steadily growing again after years of not being able to compete with rival Intel. Analysts keep raising their price targets on the stock and their financials are looking better quarter-by-quarter. 

About Advanced Micro Devices
Advanced Micro Devices, Inc operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. Its products include x86 microprocessors as an accelerated processing unit (APU), chipsets, discrete and integrated graphics processing units (GPUs), and professional GPUs; and server and embedded processors, and semi-custom System-on-Chip (SoC) products and technology for game consoles. Read More 

Current Price: $81.77
Consensus Rating: Buy
Ratings Breakdown: 20 Buy Ratings, 14 Hold Ratings, 1 Sell Ratings.
Consensus Price Target: $72.52 (-11.3% Upside)



#2 - IBM (NYSE:IBM)

IBM logoMany of us think of International Business Machines (IBM) as a relic of times past. They no longer produce personal computers and largely sell specialized technology service to Fortune 500 companies. This might not be exciting to most, but IBM has been able to introduce and scale new technologies into the Enterprise like no one else. 

IBM is now focusing on democratic applications of the blockchain, allowing its customers to create networks, setup governance rules, invite members into the network and validate transactions. It has launched a consultancy for blockchain technologies teaching companies how to best use the technology and create their own blockchain networks. It has also launched a "blockchain accelerator" program to help guide businesses through the technical and legal ramifications of running blockchain networks.

IBM has also launched an open-source collaboration initiative called Hyperledger that hopes to expand the use of the blockchain in all industries. Hyperledger already has more than 130 member companies in industries spanning financial services, manufacturing and technology all working together to create a distributed ledger framework that is standardized and open.

About IBM
International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers a portfolio of enterprise artificial intelligence platforms, such as analytics and data management platforms, cloud data services, talent management, and industry solutions primarily under the Watson Platform, Watson Health, and Watson Internet of Things names. Read More 

Current Price: $120.94
Consensus Rating: Hold
Ratings Breakdown: 6 Buy Ratings, 10 Hold Ratings, 0 Sell Ratings.
Consensus Price Target: $139.07 (15.0% Upside)



#3 - Overstock (NASDAQ:OSTK)

Overstock.com logoThe markets have been kind to Overstock (OSTK) for the last several months, primarily because of its growing focus on cryptocurrencies and blockchain technology.

One of its divisions, Medici Ventures, has quietly been working on blockchain technologies for the last three years. According to its website, Medici focuses on “six key areas of emerging crypto-industries” — capital markets, money and banking, identity, land, voting and underlying tech.

Overstock has a a number of portfolio companies dedicated to working on blockchain technology, with tZero being the most prominent. TZero will soon be launching an initial coin offering (ICO) to fund the development of SEC-compliant trade tokens as an an alternative to traditional financial markets. 


About Overstock.com
Overstock.com, Inc operates as an online retailer in the United States and internationally. It operates through Retail and tZERO segments. The company offers furniture; and home décor, including rugs, bedding and bath, home improvement, kitchen items, and other related products. It also operates Worldstock Fair Trade, a store that provides handcrafted products; Pet Adoptions, a free service and portal to display pets available for adoption; and Overstock Hotels, a portal that enables customers to search and book properties within its Website. Read More 

Current Price: $74.19
Consensus Rating: Buy
Ratings Breakdown: 5 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
Consensus Price Target: $96.86 (30.6% Upside)



#4 - Square (NYSE:SQ)

Square logoSquare (SQ) could be the first established payments company to fully integrate Bitcoin technology into their payments platform.

Square helps small business owners around the globe accept credit cards through point-of-sale systems and mobile card readers. Business owners might flock to the platform if they become the company that allows them to easily and seamlessly accept Bitcoin. Just about every business owner in the world wishes they had bought Bitcoin five years ago, and owning some that the receive as payments for their business will help business owners feel like they're part of the cryptocurrency mega-trend. 

Square CEO Jack Dorsey has previously called blockchain the "next big unlock" and the company is actively testing Bitcoin payments in its marketplace app, Square Cash. If Square becomes the company that makes it easy to buy Bitcoin and use it for payments, it could benefit from a first-mover advantage and generate significant fee revenue from people using their platform to buy and sell the cryptocurrency.

About Square
Square, Inc provides payment and point-of-sale solutions in the United States and internationally. The company's commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions. It offers hardware products, including Magstripe reader, which enables swiped transactions of magnetic stripe cards; Contactless and chip reader that accepts EMV® chip cards and Near Field Communication payments; Chip card reader, which accepts EMV® chip cards and enables swiped transactions of magnetic stripe cards; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; and Square Register that combines its hardware, point-of-sale software, and payments technology, as well as managed payments solutions. Read More 

Current Price: $164.81
Consensus Rating: Hold
Ratings Breakdown: 20 Buy Ratings, 17 Hold Ratings, 4 Sell Ratings.
Consensus Price Target: $118.03 (-28.4% Upside)



#5 - Microsoft (NASDAQ:MSFT)

Microsoft logoMicrosoft's (MSFT) Azure cloud computing arm hopes to offer the first mainstream blockchain solution to enterprise businesses. The company is now selling new distributed ledger infrastructure and offering several different blockchain apps for companies to create their own cryptocurrency networks. 

According to Microsoft,  “Rather than spending hours building out and configuring the infrastructure, we have automated these time-consuming pieces to allow you to focus on building out your scenarios and applications. You are only charged for the underlying infrastructure resources consumed, such as compute, storage, and networking. There are no incremental charges for the solution itself.”



About Microsoft
Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. Its company's Productivity and Business Processes segment offers Office 365 commercial products and services, such as Office, Exchange, SharePoint, Skype for Business, Microsoft Teams, and related Client Access Licenses (CALs); Office 365 consumer services, including Skype, Outlook.com, and OneDrive; LinkedIn online professional network; and Dynamics business solutions comprising financial management, enterprise resource planning, customer relationship management, supply chain management, and analytics applications for small and medium businesses, large organizations, and divisions of enterprises. Read More 

Current Price: $207.26
Consensus Rating: Buy
Ratings Breakdown: 31 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
Consensus Price Target: $217.45 (4.9% Upside)

 

8 Stocks Beaten Down by the Coronavirus That Are Too Good to Pass Up

The coronavirus crash has not discriminated in its victims. Large-cap, mid-cap, and small-cap stocks have all been dropping. No sector has been spared either. And while the market flipped from a bear market to a bull market in just three days, there’s still plenty of volatility to cause cautious investors to keep a healthy social distance from many stocks.

The pandemic that is forcing most of us to stay in our homes as much as possible (and if you’re not, please do) is unique for most of us. Demand hasn’t organically diminished. It’s been artificially suppressed. And that means that while it’s fair to say our economy will certainly experience a new normal, there will be a recovery.

And when it comes, many of the companies that were strong before the pandemic broke will continue to show their strength. Investors who are investing in these companies today will be the ones that experience the greatest gains when the recovery happens.

View the "8 Stocks Beaten Down by the Coronavirus That Are Too Good to Pass Up" Here.






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