Published on 17 Feb 2023 on Insider Monkey via Yahoo Finance

13 Most Undervalued Penny Stocks To Buy According To Hedge Funds

In this article, we will take a look at the 13 most undervalued penny stocks to buy according to hedge funds. To see more such companies, go directly to 5 Most Undervalued Penny Stocks To Buy According To Hedge Funds.

Investors rejoiced a strange optimism last month as growth stocks and cryptocurrencies rallied, mostly driven by data that showed inflation might be peaking. The Federal Reserve at the time also hinted that the inflation levels are finally starting to move towards its desired levels. Several analysts commented that the bull market has finally started. According to BNN Bloomberg, Brian Belski, chief investment strategist at BMO Capital Markets, thinks that the “big secular bull market” that started in the US in 2009 remains in place. The analyst said that the technology sector “is unlikely to be a leading sector for the bull market currently underway.”

However, in hindsight that optimism feels unfounded as later data proved that inflation is not decreasing and the Federal Reserve might not pause its rate hikes, after all.