5 Best Penny Stocks to Buy and Hold According to Reddit

2. Clover Health Investments, Corp. (NASDAQ:CLOV)

Number of Hedge Fund Holders: 14

Stock Price as of July 29: $2.760

Clover Health Investments, Corp. (NASDAQ:CLOV) is a Franklin, Tennessee-based healthcare technology company that is involved in providing Medicare Advantage Plans for senior citizens across eight states in the US.

The US population aged above 65 is expected to double to 95 million in the next 40 years. The elderly will be representative of 23% of the total population as opposed to 16% currently. The total addressable market (TAM) of the Medicare universe is expected to increase to $1.25 trillion. Meanwhile, the Medicare Advantage Plans industry is expected to grow to $590 billion by 2025. Redditors think Clover Health Investments, Corp. (NASDAQ:CLOV) is recruiting a strong team to gain more credibility. The company has brought ex-CFO of Sortera Health Scott Leffler as their new CFO. Mr. Leffler has been instrumental in getting Sortera on the public market and pushing it to cross the $1 billion sales level.

Two Sigma Advisors increased its investment in Clover Health Investments, Corp. (NASDAQ:CLOV) by 9% during Q1 2022.