15 Best Technology Penny Stocks to Buy

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2. Blend Labs, Inc. (NYSE:BLND)

Share Price: $3.11

Number of Hedge Fund Holders: 35

Blend Labs, Inc. (NYSE:BLND) is one of the best technology penny stocks to buy. On November 19, Blend Labs, Inc. (NYSE:BLND) shared its strategic direction at the Wells Fargo 9th Annual TMT Summit.

CEO Nima Ghamsari talked about the company’s focus on integrating AI into its platform. Blend Labs, Inc. (NYSE:BLND) is using AI to make mortgage processing faster and more efficient. The company also reached an important milestone by increasing its gross margin to 78%.

Blend Labs, Inc. (NYSE:BLND) shifted its focus away from some non-core businesses, such as income verification and homeowners insurance to focus more on its core software offerings. These efforts have helped the company to achieve non-GAAP operating profitability.

Additionally, the company is developing its Rapid Suite of products to make the loan application more efficient. The Rapid Suite of products integrates income, assets, credit, loan pricing, and loan decisions. Blend Labs, Inc. (NYSE:BLND) expects that the introduction of Rapid Home Equity will double its revenue per loan unit. The company is confident about its position in the market and sees good opportunities for future growth.

Blend Labs, Inc. (NYSE:BLND) offers digital banking solutions through its cloud origination platform for banks, credit unions, and mortgage lenders. It helps financial services firms simplify and manage consumer lending, mortgage applications, and deposit accounts.

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