Typically, when discussing under-the-radar stocks to buy, human analysts bring their best ideas to the table. However, in this case, I asked ChatGPT – the artificial intelligence-based chatbot by OpenAI that’s taking the world by storm – to help me with three specific market ideas that could pop in June.
Since this is the internet, let me clarify. I did not pick these ideas. Rather, I asked ChatGPT to provide three publicly traded names to fulfill the central theme of this article. Also, in the spirit of full disclosure, I didn’t immediately receive my AI-predicted stocks. Instead, the chatbot gave me a litany of common-sense guidance, such as conducting my own research.
Still, with some minor tweaking, I got my ideas. Of course, you should take these machine-generated picks with a healthy grain of salt. That said, here are the top stocks to soar according to ChatGPT.
| NNDM | Nano Dimension | $2.40 |
| FVRR | Fiverr | $27.64 |
| PLTR | Palantir | $15.02 |
Nano Dimension (NNDM)
According to ChatGPT, Nano Dimension (NASDAQ:NNDM) is a “3D printing company specializing in the development of advanced printed electronics. They provide solutions for prototyping and short-run manufacturing of electronic devices. The company has been gaining attention for its innovative technology and has the potential to benefit from the growing demand for electronic components.”
An enticing idea among under-the-radar stocks, Nano Dimension initially courted attention a few years ago during the 3D printing craze. However, the fanfare over the sector has died down significantly relative to the peak. Still, interest is starting to come back as the underlying technology improves.
However, the main concern for NNDM focuses on its aspirational nature. True, the company enjoys a stable balance sheet, particularly with an outsized cash-to-debt ratio of 57.48 times. However, its three-year revenue growth rate (on a per-share basis) sits at 56.2% below zero. Also, it incurs deeply negative operating and net margins. Nevertheless, if you’re willing to gamble with your AI-predicted stocks, NNDM may see upside thanks to its burgeoning market. Just be careful with this one.
Fiverr (FVRR)
Arguably the most sensible idea among AI-generated under-the-radar stocks, Fiverr (NYSE:FVRR) is an “online marketplace that connects freelancers with businesses seeking their services. The platform has gained popularity due to its user-friendly interface and wide range of services offered. With the increasing trend of remote work and the gig economy, Fiverr could see continued growth.”
ChatGPT isn’t wrong, particularly regarding the explosive potential of the gig economy. According to Market Reports World, the global gig economy reached a valuation of $413.93 billion in 20220. Further, the sector might expand at a compound annual growth rate (CAGR) of 14.22% from 2023 to 2028. At the forecast culmination, the freelance economy might see a valuation of $918.94 billion.
Of course, human investors – rightfully so – will point to FVRR’s volatility. During the trailing one-year period, shares tumbled almost 32%. As well, Gurufocus warns that Fiverr might be a possible value trap. On the other hand, the company posts a three-year revenue growth rate of 20.6%, beating out 72.04% of the competition. Tied to a rapidly growing global market, FVRR could be one of the top stocks to soar.
Palantir Technologies (PLTR)
While I wouldn’t necessarily call Palantir Technologies (NYSE:PLTR) one of the under-the-radar stocks, it’s definitely on a comeback trail after soaring to astounding heights in early 2021. Per ChatGPT, “Palantir is a software company specializing in data analytics and artificial intelligence. Their platforms help organizations analyze and interpret vast amounts of data to make informed decisions. Palantir has secured significant contracts with government agencies and large corporations, which could contribute to its potential growth.”
Since the beginning of this year, PLTR soared nearly 138%. Just in the past month, shares returned over 59% of equity value. Therefore, it’s controversial to suggest that PLTR ranks among the high-potential stocks for June. With the value already flying into the stratosphere, it’s more than possible that we could see a correction.
Indeed, data from TipRanks shows that PLTR carries a consensus hold rating among covering analysts. This assessment breaks down as two buys, six holds and four sells – hardly encouraging individual views. What’s even more problematic, the average price target sits at $10.50. Right now, that implies a downside risk of nearly 31%. Nevertheless, given the AI hype machine, PLTR could be one of the best stocks for high returns. I’d just be super careful with this one.
On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.