The stock market in 2023, despite concerns about a bear market, saw a very successful year, finishing near all-time highs. With such a successful year coming to a close, there are predictions that the momentum will continue into 2024 and lead to further gains as sections of the market continue to grow. Part of sound investing is investing in companies positioned to continue performing well and have advantages over their competitors. There have been many companies that saw performance and preparation for future growth in 2023 that far exceeded other stocks, even those that did well during the year.
Hottest Stocks of 2024
Investing can appear difficult at first simply due to the fact you have so many options to choose from. Investing is more accessible than ever, which can overwhelm you with choices as some apps and platforms simply throw you into the wider market with little guidance. This can be overcome with research and focusing on companies that have delivered results and importantly have possessed themselves for a successful future. Here are three companies poised to have a good 2024.
- Nvidia: in the areas of computing and gaming, Nvidia remains a well-known brand. Chiefly known for graphics cards, the company is an industry leader in GPU production. Nvidia does more than just make gaming products. Their equipment is used in AI and data centers as well. The company is in a very strong position far ahead of its competitors and also produces products that are sure to be used in the coming year due to growth in the technology sector such as AI development.
- Coinbase: as the largest crypto platform by volume, Coinbase occupies a large section of the wider cryptocurrency marketplace. As the company has continued to grow, they have also introduced their own crypto wallet. As a company with a wide reach and a lot of users in its particular market, Coinbase remains a strong stock for those interested in the crypto field outside of owning tokens. Coinbase’s stock has also seen investment by companies focused on investing in innovative technologies.
- Plug Power: is a company that is well-positioned to do well in 2024. The company focuses on sectors of the energy market that are primed to expand in the coming years with electric vehicles and other more environmentally friendly forms of energy becoming more widely used. In addition to remaining focused on its core business of fuel cell production, the company is looking to expand into the growing hydrogen cell market in the coming years. The company also plans to open facilities in Spain to further expand its reach.
Final Thoughts
2024 looks to be a strong year for investment and is poised to follow up on 2023’s successful results. Much of 2023’s growth is driven by technology and innovation. Those looking for hot investment opportunities have always been focused on those companies looking to innovate, introduce new technologies, and reform existing markets. The above stocks all have one thing in common. These are companies looking to further innovate in unique and growing fields with high exposure to technology and innovation.
