5 Best Growth Stocks Under $20 to Buy

3. VNET Group Inc. (NASDAQ:VNET)

Number of Hedge Fund Holders: 42

VNET Group Inc. (NASDAQ:VNET) is one of the best growth stocks under $20 to buy. On May 26, VNET reported strong Q1 2026 results, with total net revenues increasing by 19.8% year-over-year to RMB2.69 billion. Growth was primarily fueled by a 58.1% surge in wholesale IDC business revenue, which surpassed retail revenue for the first time. The company’s focus on its dual-core strategy and AIDC (AI-driven data center) development also contributed to a 30.6% increase in Adjusted EBITDA, reaching RMB891.5 million.

Operationally, VNET secured 517MW of new orders year-to-date, including a major 510MW contract in the Greater Beijing Area. The company also strengthened its position by welcoming CATL as a strategic investor and successfully listing two REIT projects in March, creating a capital recycling model to support future large-scale, green data center development.

Looking ahead, VNET Group Inc. (NASDAQ:VNET) plans to utilize its partnership with CATL to unlock supply chain synergies and capture growing AI-driven demand. With deep resource reserves and improved operational efficiency, leadership remains focused on maintaining its development trajectory and delivering long-term value as it transitions toward high-performance AIDC infrastructure.

VNET Group Inc. (NASDAQ:VNET) is a China-based carrier- and cloud-neutral internet data center services provider. The company provides hosting and related services, including IDC services, cloud services, and business VPN services, to support customers’ internet infrastructure.