12 Best Multibagger Penny Stocks to Buy Now

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8. Dingdong (Cayman) Limited (NYSE:DDL)

Stock Performance Over Last Year: 139.13%

Number of Hedge Fund Holders: 9

Share Price as of February 5: $3.30

Dingdong (Cayman) Limited (NYSE:DDL) operates a leading fresh grocery e-commerce platform in China. The company provides fresh groceries and daily necessities through its mobile app and extensive self-operated frontline fulfillment network.

Dingdong (Cayman) Limited (NYSE:DDL) has demonstrated strong growth momentum, with Q3 2024 GMV increasing 28.3% year-over-year to RMB7.27 billion ($1.04 billion). Its advanced supply chain capabilities and data algorithms have enabled Dingdong to achieve significant operational efficiency, with fulfillment expenses as a percentage of revenue decreasing to 21.4% from 23.2%. In short, the company appears well-positioned to maintain the current growth trajectory in China’s fresh grocery e-commerce market.

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