NEGG - Forget Newegg These Tech Stocks Are Better Buys
It took just days for online tech retailer Newegg (NASDAQ: NEGG) to go from IPO stock to meme stock. After a lackluster beginning of public trading in late May, reports surfaced that the company had supply of highly sought after NVIDIA RTX 30 series graphics cards , and the stock promptly went from just over $10 a share to briefly over $70 a share in early July. Since then, the share price has been cut in half from its peak as detractors have started betting against the e-tailer, but early Newegg investors are nevertheless still sitting on a hefty return in short order.
Newegg isn't the only company out there with the potential for big gains. Three Fool contributors think PubMatic (NASDAQ: PUBM) , Limelight Networks (NASDAQ: LLNW) , and Sea Limited (NYSE: SE) deserve your attention right now, too.
Nicholas Rossolillo (PubMatic): Digital advertising software has been a hot segment of the IT world lately. The migration to virtual marketing and ads was already underway, but the pandemic turbocharged the shift in corporate spending. Mobile ad spending in particular is forecast to grow 23% this year and surpass $100 billion, according to researcher eMarketer. It's amid this backdrop that PubMatic made its public debut in December 2020.
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Forget Newegg, These Tech Stocks Are Better Buys