15 Best Penny Stocks to Buy According to Billionaires

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9. NIO Inc. (NYSE:NIO)

Price: $4.90

Number of Hedge Fund Holders: 20 

Number of Billionaire Investors: 7

Total Value of Billionaire Holdings: $86,783,830

NIO Inc. (NYSE:NIO) is a Chinese premium electric vehicle manufacturer focused on high-end smart electric vehicles and innovative mobility solutions. Its popular models include ES8, ES6, EC6, and ET7. The company has been focused on becoming a distinguished player in the electric vehicle industry through technological innovation.

During the fiscal third quarter of 2024, NIO Inc. (NYSE:NIO) maintained its position as the top player in China’s BEV segment. The company delivered 61,855 vehicles and held a 48% market share. In addition, it also achieved a vehicle margin of 13.1%, indicating improved profitability due to efficient cost-cutting. The company is ramping up its supply chain to cater monthly production of 20,000 units. On the other hand, it is also developing its charging infrastructure and now has around 2,700 battery-swapping stations internationally. It is one of the best penny stocks to buy according to billionaires.

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