15 Best Penny Stocks to Buy According to Billionaires

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1. Lucid Group, Inc. (NASDAQ:LCID)

Price: $2.09

Number of Hedge Fund Holders: 24

Number of Billionaire Investors: 10

Total Value of Billionaire Holdings: $229,700,347

Lucid Group Inc (NASDAQ:LCID) is an American automotive and technology company specializing in luxury electric vehicles, EV powertrains, and battery systems. The company is known for its Lucid Air, which is a luxury sedan that offers impressive range and performance.

During fiscal 2024, the company delivered 10,241 cars, making it one of the best years. This was a stark improvement of 71% year-over-year, driven by strong demand for the Lucid Air luxury sedan. In addition, its production was also in line with the guidance of 9,000 as the company produced 9,029 vehicles during the year. The Lucid Air became the top-selling EV in its class in the US during H2 2024, even outperforming some gas-powered competitors in its segment. As a result of this impressive performance, Lucid Group Inc (NASDAQ:LCID) exceeded the Q4 2024 revenue forecasts by 17% and reached $234.5 million during the quarter.

Lucid Group Inc (NASDAQ:LCID) aims to double production to around 20,000 vehicles in 2025, leveraging the Gravity SUV’s ramp-up and improved operational efficiency. It is the best penny stock to buy according to billionaires.

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

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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