10 Best Multibagger Penny Stocks to Buy According to Billionaires

2. CommScope Holding Company, Inc. (NASDAQ:COMM)

Number of Billionaire Holders: 8

1-Year Gain as of April 21: 226.47%

Share Price as of April 21: $3.33

CommScope Holding Company, Inc. (NASDAQ:COMM) is a communication equipment company providing infrastructure solutions for communications, data centers, and entertainment networks worldwide. It offers fiber optic and copper connectivity and cable solutions for telecommunications. The stock has been on a roll, rallying 226.47% over the past year.

The impressive run in the market comes from being the global leader in network connectivity solutions, delivering strong financial results that underscore underlying growth. Net sales in its fourth quarter of 2024 were up 26.6% to $1.17 billion, which is attributed to higher net sales in all segments. CommScope Holding Company, Inc. (NASDAQ:COMM) also posted a loss from continuing operations of $65.2 million, an improvement from a loss of $414 million for the same quarter the prior year. CommScope Holdings generated cash flow from operations of $273.1 million with free cash flow of $247.8 million.

Likewise, Moody’s Ratings upgraded the company to Caa1 from Caa2, assigning a B3 rating to its newly backed senior secured term loan. The upgrade reflects CommScope Holding Company, Inc.’s (NASDAQ:COMM) successful refinancing of debt due 2025 and 2026 through asset sales and new secured debt.