A strong economy, rate-cutting by the Federal Reserve, and impressive corporate earnings helped drive growth stocks in various sectors to a stellar performance in 2024. This year saw a broadening of stock market leadership beyond traditional leaders.
Sezzle, a “buy now pay later” firm, topped this year’s list with a gain of over 1,000%, followed closely by Palantir Technologies and AppLovin. Both companies’ strong earnings reports and revenue growth contributed to their success.
Palantir’s AI offerings played a significant role in its impressive performance, while AppLovin’s mobile app marketing platform drove its growth. Astera Labs, another company with exposure to artificial intelligence and data centers, also made the list with a gain of over 200%.
Despite concerns about an economic hard landing, consumer stocks like Cava and Brinker International nearly tripled in value. The strong performance was driven by a resilient US consumer and solid earnings reports.
The “Best Companies Of 2024” list is based on data through December 26 and highlights the year’s top performers across various sectors. The list provides valuable insights into the market trends and opportunities for investors.
Source: https://www.investors.com/research/best-companies-of-2024