5 Most Successful Penny Stocks That Made It Big

3. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 84

Share Price Gain To Date: 15,900%

NVIDIA Corporation (NASDAQ:NVDA) is the world’s largest graphics processing unit designer and seller. Its products lead the market and are used in a variety of applications such as gaming, machine learning, and enterprise computing.

NVIDIA Corporation (NASDAQ:NVDA) shares have appreciated by a staggering 15,900% since they started trading on the stock market in January 1999. The IPO share price was $12, and after it is adjusted for stock splits, it now stands at $0.82 per share – among the lowest of the lows for a penny stock. Despite the shares currently trading at $132, Needham believes that they still have a long way to go, even as it reduced the company’s share price target to $155 from $170 in October 2022.

Insider Monkey took a look at 895 hedge fund holdings for this year’s June quarter to discover that 84 had invested in NVIDIA Corporation (NASDAQ:NVDA).

Out of these, Ken Fisher’s Fisher Asset Management is NVIDIA Corporation (NASDAQ:NVDA)’s largest investor. It owns 7.5 million shares that are worth $1.1 billion.