5 Penny Stocks That Will Make You A Millionaire

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1. Farfetch Limited (NYSE:FTCH)

Share Price as of January 6: $4.92

Number of Hedge Fund Holders: 50

Farfetch Limited (NYSE:FTCH) is an online luxury fashion retailer based in London. The company has been leading the space since 2007 and has a prominent global footprint. The stock was teased by Alexander Green in his Oxford Microcap Trader newsletter. Here is what Alexander Green said:

“It’s 100% dedicated to discounted luxury fashion. Annual revenue already exceeds $2.3 billion. And it’s growing at a huge 35% annual rate…. Just like its clothing, this company is trading a huge discount. And the stock is trading for less than $10. It has huge upside potential and limited downside risk.”

On December 2, JPMorgan analyst Doug Anmuth maintained his $15 price target and an Overweight rating on Farfetch Limited (NYSE:FTCH). As of January 6, the stock is trading at $4.92. Farfetch Limited (NYSE:FTCH) is one of the promising penny stocks that can potentially become a million dollar investment.

At the close of Q3 2022, 50 hedge funds were long Farfetch Limited (NYSE:FTCH) and disclosed positions worth $912 million in the company. Of those, Atreides Management was the dominant stockholder in the company and held a stake worth $81.3 million.

Follow Farfetch Ltd (NYSE:FTCH)

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