5 Hot Penny Stocks To Buy According to Hedge Funds

3. The RealReal, Inc (NASDAQ:REAL)

Number of Hedge Funds: 23

Ecommerce company The RealReal, Inc (NASDAQ:REAL) ranks 3rd in our list of the hot penny stocks to buy according to hedge funds. The stock jumped last month after The RealReal, Inc (NASDAQ:REAL) posted strong Q3 results and posted a narrower-than-expected loss. Needham analyst Anna Andreeva said The RealReal, Inc (NASDAQ:REAL)  would be able to swing to profit without new revenue streams.

 “We are bullish on the circular economy’s growth potential, and we see REAL as the only luxury marketplace operating at scale. REAL is making progress removing friction from supply, plus we expect self-help initiatives (growing brand visibility, improving pricing through data and automation, building retail stores) to drive sales and profitability higher,” Anna Andreeva said.

Out of the 910 hedge funds tracked by Insider Monkey, 23 hedge funds reported owning stakes in The RealReal, Inc (NASDAQ:REAL) . The most significant stakeholder of The RealReal, Inc (NASDAQ:REAL) was Mark Broach’s Manatuck Hill Partners which owns a $7.7 million stake in The RealReal, Inc (NASDAQ:REAL).