5 Best Penny Stocks to Buy According to Billionaire Ken Griffin

In this article, we will take a look at the 5 best penny stocks to buy according to billionaire Ken Griffin. To see more such companies, go directly to 13 Best Penny Stocks to Buy According to Billionaire Ken Griffin.

5. Plug Power Inc. (NASDAQ:PLUG)

Number of Hedge Fund Holders: 19
Upside Potential: 46%

Plug Power Inc. (NASDAQ:PLUG) develops hydrogen and fuel cell product solutions. Its fuel-power cell systems provide power to material-handling electric vehicles.

As of December 2023, 19 out of the 933 hedge funds polled by Insider Monkey had bought and owned the firm’s shares. Plug Power Inc. (NASDAQ:PLUG)’s largest shareholder in the fourth quarter remained Vince Maddi and Shawn Brennan’s SIR Capital Management, which owned shares worth $7.77 million.

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4. Allogene Therapeutics Inc (NASDAQ:ALLO)

Number of Hedge Fund Holders: 20
Upside Potential: 79%

Allogene Therapeutics Inc (NASDAQ:ALLO) is a clinical-stage immune-oncology company developing and commercializing genetically engineered cancer treatment therapies. Allogene Therapeutics Inc (NASDAQ:ALLO) develops, manufactures, and commercializes UCART19, a T-cell product candidate for treating pediatric and adult patients with R/R CD19-positive B-cell ALL.

As of the fourth quarter of last year, 20 out of the 933 hedge funds in Insider Monkey’s database had held a stake in Allogene Therapeutics Inc (NASDAQ:ALLO). Ken Griffin’s Citadel Investment Group owned the most significant stake in Chord Energy in Q3, worth $13 million.

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3. 8×8, Inc. (NASDAQ:EGHT)

Number of Hedge Fund Holders: 21
Upside Potential: 79%

Headquartered in Campbell, California, 8×8, Inc. (NASDAQ:EGHT) is a technology penny stock that provides a voice video chat contact center and enterprise-class application programmable interface API. 

By the end of last year, 21 out of the 933 hedge funds profiled by Insider Monkey had invested in 8×8, Inc. (NASDAQ:EGHT). Ian Simm’s Impax Asset Management owned the biggest stake among these, owning $12.59 million worth of shares.

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2. Brandywine Realty Trust (NYSE:BDN)

Number of Hedge Fund Holders: 22
Upside Potential: 36%

Brandywine Realty Trust (NYSE:BDN) is one of the largest publicly traded integrated real estate companies. It is one of the best penny stocks to buy, according to billionaire Ken Griffin.

During Q4 2023, 22 out of the 933 hedge funds in Insider Monkey’s database had held a stake in Brandywine Realty Trust (NYSE:BDN). Ken Griffin’s Citadel Investment Group owned the biggest stake in the firm, worth $12.11 million.

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1. Grab Holdings Limited (NASDAQ:GRAB)

Number of Hedge Fund Holders: 37
Upside Potential: 42%

According to billionaire Ken Griffin, Grab Holdings Limited (NASDAQ:GRAB) is one of the best penny stocks to buy. It operates as a software application company that offers super apps in Cambodia, Indonesia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. Grab Holdings Limited (NASDAQ:GRAB) also provides a single platform for super apps that allows easy access to mobility, delivery of digital financial services, and enterprise sector offerings.

By the end of December 2023, 37 out of the 933 hedge funds tracked by Insider Monkey had invested in the company. Grab Holdings Limited (NASDAQ:GRAB)’s largest shareholder in Q4 2023 was Chase Coleman and Feroz Dewan’s Tiger Global Management LLC, courtesy of its $172.89 million investment.

Here is what Artisan Developing World Fund said about Grab Holdings Limited (NASDAQ:GRAB) in an investor letter:

“Bottom contributors to performance for the quarter included Southeast Asian technology platform Grab Holdings Limited (NASDAQ:GRAB). Grab fell due to concerns about a slowdown in its food delivery business despite continued growth and recovery in ride hailing and perhaps due to the technical selling pressure from prominent pre-IPO shareholders.”

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