5 Tech Penny Stocks Reddit is Buying

4. Ebang International Holdings Inc. (NASDAQ: EBON)

Number of Hedge Fund Holders: 8
Price as of August 5, 2021: $2.34

Ebang International Holdings Inc. (NASDAQ: EBON) is a China-based company that makes and sells application-specific integrated circuit chips. It is placed fourth on our list of 10 tech penny stocks Reddit is buying. The firm also has stakes in the business for the manufacture and selling of Bitcoin mining machines. It also engages in the development and sale of fibre optic telecommunication products. The company was founded in 2010 and has a market cap of $412 million. It employs more than 200 people. 

On April 5, Ebang International Holdings Inc. (NASDAQ: EBON) launched EBONEX, a cryptocurrency exchange platform. The share price of the firm jumped more than 10% after the launch of the crypto exchange. 

Out of the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in Ebang International Holdings Inc. (NASDAQ: EBON) with 722,623 shares worth more than $5.7 million.