S&P 500 Soars 23% in 2024, Top Performers See Gains Exceeding 100%
The U.S. stock market experienced a remarkable surge in 2024, with the S&P 500 index climbing approximately 23%. This impressive performance marks the first instance of consecutive years with over 20% returns since the late 1990s, ending the year near its all-time high and fueling optimism for continued growth in 2025.
While the overall market showed strong gains, several companies within the S&P 500 significantly outperformed the index. The top 10 best-performing stocks of 2024 achieved triple-digit percentage increases, showcasing exceptional growth across various sectors.
Leading the pack was Palantir (PLTR), a leader in big data analytics with the federal government as a major client. The company’s stock skyrocketed by an astounding 340.5%, pushing its market capitalization to $171.4 billion.
Following closely was Vistra (VST), an energy sector standout, with a remarkable 257.9% gain and a market cap of $46.8 billion. Tech giant Nvidia (NVDA), known for its advancements in AI technology, secured the third spot with a 171.2% increase, reaching a market cap of $3.29 trillion.
Other notable performers included GE Vernova (GEV) with a 150.6% gain, United Airlines (UAL) rising 135.3%, and Axon Enterprise (AXON) climbing 129.9%. Texas Pacific Land (TPL), Broadcom (AVGO), Targa Resources (TRGP), and Howmet Aerospace (HWM) rounded out the top 10, all with gains exceeding 100%.
These exceptional performances underscore the diverse range of industries driving market growth and highlight potential areas of continued expansion as investors look ahead to 2025.
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