2024: A Year of Market Shifts and Notable Performers
2024 has been a year of significant market shifts, with some companies soaring to new heights while others faced significant headwinds. Investing.com has compiled a list of some of the year’s most notable performers.
Tesla (NASDAQ: TSLA) shares struggled for the first part of the year, but that changed in November after the U.S. election, with Elon Musk having aligned himself with President-elect Donald Trump. Analysts at Baird raised their target for Tesla to $480 from $280, based on strong growth prospects in the automaker, supported by cost reductions, new models, and favorable regulatory dynamics.
Crypto Stocks
MicroStrategy (NASDAQ: MSTR) started its rally ahead of the election and is up nearly 400% this year. The stock, seen as a bellwether for Bitcoin exposure, was driven by surging Bitcoin prices and the company’s continued commitment to its cryptocurrency holdings. Coinbase (NASDAQ: NASDAQ:) and Robinhood (NASDAQ: NASDAQ:) also benefitted from the crypto resurgence, up over 58% and 216% this year, respectively.
Palantir (NASDAQ:) has skyrocketed since August and is also up close to 400% this year, solidifying its place as one of the top performers. The company’s software solutions and growing adoption across government and private sectors have made it a standout in the data analytics space.
Nvidia (NASDAQ: NVDA) made significant gains between January and June, and then again between August and November. The company has continued to capitalize on the demand stemming from AI, and analysts at Truist are “incrementally constructive” on Nvidia’s AI dominance.
Intel (NASDAQ:) has seen its stock plummet by 60% year-to-date, struggling to maintain its leadership in the global chip market and facing challenges surrounding its health and outlook.