11 Best NASDAQ Penny Stocks To Buy Right Now

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1. CommScope Holding Company, Inc. (NASDAQ:COMM

Number of Hedge Fund Holders: 38

Stock Price as of December 4: $4.79

CommScope Holding Company, Inc. (NASDAQ:COMM) provides infrastructure solutions for telecommunications networks. The company sells products such as fiber-optic cables and connectivity solutions to telecom operators and enterprises.

CommScope Holding Company, Inc. (NASDAQ:COMM) is investing heavily in capacity expansion, and expanding its product portfolio to meet the growing demand of 5G technology, and the data center market, particularly in the hyperscale and cloud data center business. CommScope Holding Company, Inc. (NASDAQ:COMM) is also investing in its vertical market strategy, focusing on expansion into manufacturing and Pro-AV markets. The company believes that these investments will drive growth and help to gain market share in the medium and long term.

In Q3, CommScope Holding Company, Inc. (NASDAQ:COMM) reported a 25% year-over-year increase in adjusted EBITDA to $220 million, driven by strength in the Connectivity and Cable Solutions (CSS) segment. This led the company to approve an additional capacity expansion project that is expected to generate an additional $300 million in revenue. In addition to expanding capacity, CommScope Holding Company, Inc. (NASDAQ:COMM) is also investing in technology to drive growth in its CCS segment.

While we acknowledge the potential of CommScope Holding Company, Inc. (NASDAQ:COMM) to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than COMM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

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