5 Penny Stocks That Will Make You A Millionaire

2. Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)

Share Price as of January 6: $1.52

Number of Hedge Fund Holders: 24

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) is an innovative and emerging biotech company that is involved in cell programming for the production of products including novel therapeutics, food ingredients, and chemicals derived from petroleum. As of January 6, Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) is trading at $1.52 a share and is placed among the penny stocks that have the potential to rake in millions.

Last November, Berenberg analyst Gaurav Goparaju started coverage of Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) with a Buy rating and a $6 price target.

Whitney Tilson teased Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) in his newsletter, Empire Stock Investor. Here is what he said:

“Its management team is elite, including the former CEOs of MGM and Bayer, a highly regarded MIT scientist, and a billionaire businessman. They specialize in a revolutionary technology – one that could transform every industry on the planet. And they’re a market leader in an industry that’s projected to be worth $4 trillion in the coming years.”

At the end of Q3 2022, 24 hedge funds held stakes in Ginkgo Bioworks Holdings, Inc. (NYSE:DNA). The total value of these stakes amounted to $956 million.