5 Penny Stocks Billionaires Are Loading Up On

2. iQIYI, Inc. (NASDAQ:IQ)

Number of Billionaire Investors in Q1 2023: 8

iQIYI, Inc. (NASDAQ:IQ) is another Chinese company. It is a subsidiary of one of China’s largest social media companies, Baidu. The firm is primarily a content and entertainment firm, offering videos, games, journals, live broadcasting, and other digital products.

17 of the 943 hedge funds profiled by Insider Monkey had held a stake in the firm as of the first quarter of this year. Seth Fischer’s Oasis Management is iQIYI, Inc. (NASDAQ:IQ)’s largest investor through a $171 million investment.

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