DailyBubble News
DailyBubble News

13 Hot Penny Stocks To Buy According to Hedge Funds

This article discusses the current market trend of small-cap stocks, penny stocks, and cryptocurrencies gaining attention due to overall market optimism and expectations of the Fed cutting interest rates in 2024. The Russell 2000 Index, a prominent small-cap index, has seen a 7% increase in 2023.

Analysts are now turning their focus towards smaller companies for long-term gains as recession concerns diminish. Major financial institutions are also showing interest in small-cap stocks, with Goldman Sachs launching a small-cap product in response to investor demand.

The article highlights 13 hot penny stocks to buy according to hedge funds. These stocks were identified using a stock screener, focusing on stocks trading under $5 that have gained over 50% in the past month. The hedge fund sentiment was gauged using Insider Monkey’s database of 910 hedge funds.

Some of the highlighted penny stocks include Olaplex Holdings Inc. (OLPX), Aldeyra Therapeutics Inc. (ALDX), Kinnate Biopharma Inc. (KNTE), Oatly Group AB (OTLY), Telos Corp (TLS), Altimmune Inc (ALT), Ranpak Holdings Corp (PACK), and Heron Therapeutics Inc. (HTRX). Each stock is accompanied by information on the number of hedge funds invested and recent performance.

Overall, the article provides insights into the growing interest in penny stocks and small-cap companies among hedge funds and investors. It also touches on recent developments and financial performance of the highlighted stocks, offering valuable information for those looking to diversify their investment portfolio.

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