5 Penny Stocks That Will Make You A Millionaire

4. Wheels Up Experience Inc. (NYSE:UP)

Share Price as of January 6: $1.18

Number of Hedge Fund Holders: 17

Wheels Up Experience Inc. (NYSE:UP) is a leading provider of on–demand air travel services, connecting customers to private aircraft for a variety of leisure and business needs. As of January 6, Wheels Up Experience Inc. (NYSE:UP) is trading at $1.18 per share and is one of the penny stocks that can return millions of dollars an a relatively small initial investment.

Wheels Up Experience Inc. (NYSE:UP) was teased by Alexander Green in his Oxford Microcap Trader newsletter. Here is what Alexander Green had to say about this stock:

“This one is a dirt-cheap play on one of the largest private aviation companies in the world. The firm is expanding its addressable market by an incredible 900%. It just announced record revenue growth of 49% year over year. It’s grown membership by 20% this year. Even though it’s the leading company in this sector with huge growth, its stock is trading at just $2 a share.”

On November 9, Wheels Up Experience Inc. (NYSE:UP) posted earnings for the fiscal third quarter of 2022 in which it outperformed EPS expectations by $0.04. The company reported a revenue of $420.36 million, up 39.20% year over year, and ahead of Wall Street consensus by $38.31 million.

At the end of Q3 2022, 17 hedge funds were bullish on Wheels Up Experience Inc. (NYSE:UP) and held stakes worth $8.3 million in the company. Of those, Jim Simons’ Renaissance Technologies was the largest shareholder in the company and disclosed a position worth $2 million.