5 Most Successful Penny Stocks That Made It Big

4. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 72

Share Price Gain To Date: 16,400%

Tesla, Inc. (NASDAQ:TSLA) is one of the largest electric vehicle companies in the world, that is widely credited to have pioneered new energy vehicles after having overcome significant manufacturing and production constraints. The company is headquartered in Austin, Texas, the United States.

Tesla, Inc. (NASDAQ:TSLA) is aggressively targeting the Chinese market, where it faces tough competition from local firms at the top of their game. The firm announced that it was cutting the prices of its vehicles in China in October 2022. Insider Monkey’s second quarter of 2022 survey covering 895 hedge funds outlined that 72 had owned a stake in the company.

While Tesla, Inc. (NASDAQ:TSLA)’s shares started to sell at $10 in 2015, since then a significant number of stock splits have brought down the IPO share price to just $1.28. To date, the shares have grown by 16,400% on the stock market.

Tesla, Inc. (NASDAQ:TSLA)’s largest investor in our database is Catherine D. Wood’s ARK Investment Management which owns 1.4 million shares that are worth $1 billion.