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DailyBubble News

13 Cheap Penny Stocks to Buy According to Hedge Funds

In this article, we will delve into the 13 Cheap Penny Stocks to Buy According to Hedge Funds. The stock market is currently booming as investors react positively to the Federal Reserve’s announcement of potential interest rate cuts next year. While some skeptics question the motives behind this move, bullish investors see this as an opportunity to invest in stocks with the rally expected to continue.

According to Oppenheimer’s John Stoltzfus, the stock market rally is set to continue into 2024, with a focus on not just mega-cap tech stocks but also other companies like Meta Platforms Inc, NVIDIA Corp, and Amazon.com Inc. Stoltzfus also believes that the Fed will not cut rates in the first quarter.

Bear markets are often seen as an opportunity for long-term investors to buy and hold, as they tend not to last long. Data from Mawer Investment shows that market downturns are usually minor and short-lived, with bear markets occurring relatively infrequently since 1945.

To identify the cheap penny stocks mentioned in this article, a stock screener was used to find stocks trading under $5 with PE ratios of less than 15. The following are some of the stocks highlighted in the article:

– Banco Bradesco SA (NYSE:BBD) with 15 hedge fund investors
– Sibanye Stillwater Ltd (NYSE:SBSW) with 16 hedge fund investors
– VAALCO Energy, Inc (NYSE:EGY) with 16 hedge fund investors
– Origin Materials Inc (NASDAQ:ORGN) with 16 hedge fund investors
– Nokia Oyj (NYSE:NOK) with 17 hedge fund investors
– Overseas Shipholding Group Inc. (NYSE:OSG) with 17 hedge fund investors
– B2Gold Corp (NYSE:BTG) with 19 hedge fund investors
– W&T Offshore, Inc. (NYSE:WTI) with 19 hedge fund investors

Each stock has its own unique characteristics and potential for growth, making them attractive to hedge fund investors. The article provides insights into each company’s financial performance and investor sentiment.

Overall, the article highlights the potential opportunities in cheap penny stocks and the interest from hedge funds in these investments. It is important for investors to conduct their own research and due diligence before making any investment decisions.

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