Goldman Sachs Penny Stocks: Top 5 Stock Picks

2. iQIYI, Inc. (NASDAQ:IQ)

Number of Hedge Fund Investors In Q4 2023: 20

Current Share Price: $3.57

Goldman Sachs’s Q4 2023 Investment: $117 million

iQIYI, Inc. (NASDAQ:IQ) is a Chinese entertainment technology company whose platform allows users to stream content. The firm was out with some good news for investors in February 2024 as it shared that not only did viewing times hold their own during the Chinese New Year holiday, but artificial intelligence searches also soared by a whopping 470%.

Insider Monkey dug through 933 hedge fund holdings for 2023’s final quarter and found that 20 had bought and owned the firm’s shares. iQIYI, Inc. (NASDAQ:IQ)’s biggest investor out of these is Lenn Kipp and Xavier Majic’s Maple Rock Capital as it owns 6.2 million shares that are worth $30.4 million.

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