Top Stocks of the Year: Unveiling the Standout Performers

Discover the market's top performers and glean insights for investment success in an ever-evolving landscape. Dive into the success stories shaping tomorrow's investment strategies.

The stock market, a dynamic realm where companies vie for investors’ favor, showcases annually a select group of stocks that outshine the rest. These top performers not only generate remarkable returns but also draw widespread attention from the investment community.

 In this article, we’ll explore the standout stocks of the year, dissecting the driving forces behind their success and extracting valuable insights for investors. From tech titans pushing boundaries to healthcare stalwarts navigating uncertainties, these stocks have not only delivered exceptional returns but also reshaped investment paradigms.

Unveiling the Standout Performers:

Here are the top 10 best-performing stocks of 2024 among companies listed on major U.S. exchanges with market capitalizations exceeding $1 billion:

STOCK	2024 RETURN THROUGH MARCH 31
Sana Biotechnology Inc. (SANA)	145.1%
MicroStrategy Inc. (MSTR)	169.9%
SoundHound AI Inc. (SOUN)	177.8%
Vera Therapeutics Inc. (VERA)	180.4%
AvidityBiosciences Inc. (RNA)	182%
ArcutisBiotherapeutics Inc. (ARQT)	206.8%
JanuxTherapeutics Inc. (JANX)	250.9%
Trump Media & Technology Group Corp. (DJT)	254.1%
Super Micro Computer Inc. (SMCI)	255.3%
Viking Therapeutics Inc. (VKTX)	340.6%

Sana Biotechnology Inc. (SANA)

Sana Biotechnology specializes in gene-editing technologies, creating engineered cells for medical purposes. The company has experienced significant growth in the past year, marked by securing three investigational new drug application clearances from the U.S. Food and Drug Administration since the start of 2023. Notably, clearances for SC291 and SC262 have propelled investor confidence, driving the stock up by 145.1% this year.

MicroStrategy Inc. (MSTR)

MicroStrategy, primarily known for its business intelligence software platform, has also gained recognition as the largest corporate investor in Bitcoin (BTC). With holdings of 190,000 BTC valued at approximately $13.2 billion, MicroStrategy’s stock has surged alongside Bitcoin’s price increase of over 50% this year. While the company’s business intelligence segment has faced challenges, its stock continues to correlate with Bitcoin’s performance, resulting in a 169.9% increase in 2024.

SoundHound AI Inc. (SOUN)

SoundHound AI specializes in conversational intelligence technology, offering voice AI solutions for business customers. Recent quarters have shown impressive growth, with enthusiasm reaching new heights following Nvidia Corp.’s investment stake in the company. Nvidia’s endorsement has significantly boosted investor confidence, leading to a 177.8% increase in SoundHound’s stock this year.

Vera Therapeutics Inc. (VERA)

Vera Therapeutics, a clinical-stage biotechnology firm, focuses on developing treatments for immunological diseases. With lead product candidate atacicept targeting lupus nephritis and immunoglobulin A nephropathy, the company’s addition of industry veterans and favorable coverage initiation by Cantor Fitzgerald have propelled investor optimism. These factors have driven Vera’s stock up by 180.4% this year.

Avidity Biosciences Inc. (RNA)

Avidity Biosciences utilizes its proprietary Antibody Oligonucleotide Conjugates (AOC) platform to design RNA therapeutics for various diseases. With three programs in clinical development and positive long-term data on AOC-1001, the company has seen accelerated testing initiation in 2024, leading to a 182% increase in its stock value.

Arcutis Biotherapeutics Inc. (ARQT)

Arcutis Biotherapeutics, an early commercial-stage medical dermatology company, focuses on immune-mediated dermatological diseases and conditions. Positive late-stage trial results for its investigational roflumilast cream have driven investor optimism, resulting in a significant 206.8% increase in Arcutis’ stock value this year.

Janux Therapeutics Inc. (JANX)

Janux Therapeutics is a clinical-stage biotechnology company developing immunotherapies for cancer treatment. Encouraging safety and efficacy data from ongoing trials of JANX007 and JANX008 have led to substantial stock gains, with analysts reiterating bullish ratings and doubling price targets. As a result, Janux’s stock has soared by 250.9% in 2024.

Trump Media & Technology Group Corp. (DJT)

Following a merger with Digital World Acquisition, Trump Media & Technology Group went public, drawing investor attention amid speculation surrounding Trump’s political status. With Trump’s presumed candidacy for the 2024 Republican Party nominee, social media engagement expectations have fueled stock surges, leading to a 254.1% increase this year.

Super Micro Computer Inc. (SMCI)

Super Micro Computer, a tech company specializing in computer hardware products, has witnessed significant stock growth driven by investor enthusiasm for cloud computing, AI, blockchain technology, and autonomous vehicles. With exposure to high-growth technology sectors, Super Micro Computer’s stock has surged by 255.3% in 2024.

Viking Therapeutics Inc. (VKTX)

Viking Therapeutics, a clinical-stage biotechnology company, focuses on developing therapies for metabolic and endocrine disorders. Positive results from mid-stage testing of VK2735 have propelled investor optimism, driven by its potential as a billion-dollar weight loss drug. Consequently, Viking’s stock has skyrocketed by 340.6% this year.

Navigating Success in a Changing Market

In a rapidly changing financial landscape, the success stories of top-performing stocks offer invaluable guidance for investors. These companies, spanning technology, healthcare, and renewable energy sectors, demonstrate remarkable resilience and innovation. By dissecting their strategies and achievements, investors can glean insights to inform their own portfolio decisions. Armed with knowledge and a diversified approach, investors can confidently navigate market volatility, positioning themselves for long-term financial success amidst evolving economic conditions.