Goldman Sachs Penny Stocks: Top 5 Stock Picks

4. RLX Technology Inc. (NYSE:RLX)

Number of Hedge Fund Investors In Q4 2023: 16

Current Share Price: $2.03

Goldman Sachs’s Q4 2023 Investment: $55.4 million

RLX Technology Inc. (NYSE:RLX) is a Chinese company that makes and sells e-vapor products similar to vaping devices. The firm exited 2024 on a strong note, as despite a penny stock, it upped its acquisitions game and bought two e cigarette companies in Asia.

During last year’s fourth quarter, 16 out of the 933 hedge funds covered by Insider Monkey’s research had invested in the firm. Leonard A. Potter’s Wildcat Capital Management owned the biggest RLX Technology Inc. (NYSE:RLX) stake that was worth $36 million.

Follow Rlx Technology Inc.