As we turn the page to a new year, the 2023 stock market leaves behind a trail of impressive gains and unexpected losses. The first quarter of 2024 has not even passed yet, and the consequences and changes that took place on the stock market in the past year are still being felt. For many players in this uncertain game, things have taken a turn for the better or the worse, depending on what decisions they made about their stock purchases or sales.
While navigating the ever-shifting tides of the market can be challenging, understanding past performances can offer valuable insights for investors. Each of us, whether we like it or not, has witnessed the full dynamic movement and incredible ups and downs of the market, and we will talk about this turbulent journey in much more detail in this article.
This article delves into the top-performing stocks of 2023, exploring the factors that propelled them to the forefront and the lessons they offer for navigating the future.
What predispositions should a stock have in the market to be considered a top performer? There are several factors to consider, but there are no rules when it comes to the stock market. Past performance is not necessarily indicative of future results, and yesterday’s winner might be tomorrow’s forgotten name. To be considered a top performer, a stock should possess some of the following criteria.
Latest Trends
How much can a trend that may happen in the industry affect the behavior of stocks in the market? You can be sure that trends have a huge impact on performance, and companies are exactly the main culprits for this. The better the companies adapt to the industries they belong to, the better results can be expected in the stock exchange market.
How They Show Up on the Tests
We know many people who invest a great deal of time and dedication in doing stock market analysis and thus track the past and present fluctuations of the stock market up and down. Support and resistance is another technique that is quite widespread and is used daily in such research. With this technique, one can somehow predict what the future performance will be like, whether it will disappoint or excel.
Constant Growth of the Company
The financial maturation and growth of a company can cause positive side effects in stocks. A healthy financial environment, like the profit that the company makes, can change the course of the stock market movement. This is an exclusively good factor that will make the stock appear either as a top performer or in a very bad light.
For now, it is enough that we have shared the factors that can affect the performance, so let’s now see how these factors helped to create some of the top players on the market in 2023 and which performers we are talking about.
NVIDIA Corporation (NVDA)
To begin with, we have one of the companies that we have already stopped counting the achievements it makes daily. We can see that the stock price has risen by an incredible 200%. What do you think this is due to? NVIDIA, as a company that is focused on the electronic technology sector, has directed all its resources to the creation of high-performance computer parts that are mostly used in the AI field.
Not only that, they also manufacture high-quality GPUs for the needs of gaming fanatics. When it comes to the gaming industry, NVIDIA are real dominator because they have an excellent quality offer of computer components. It’s no surprise that they’re on our list.
Meta Platforms (META)
Formerly known as Facebook, Meta Platforms is a stock worth watching in 2024 because it was one of the few at the highest place. Despite recent challenges and scrutiny, Meta Platforms remain a key player in social media and virtual reality technology. Why is this company at the top?
Because it has one of the necessary factors that we mentioned earlier, which is that it follows the trends in the technology industry. With the potential growth of the metaverse and new advertising opportunities, Meta Platforms has long-term potential for investors.
Amazon (AMZN)
Amazon is another stock to keep an eye on in the next couple of years. And if you are in for a smart choice to invest in, this might be the right answer. As one of the largest e-commerce companies in the world, Amazon continues to experience growth in various sectors such as cloud computing, advertising, and subscription services. With its strategic acquisitions and investments, Amazon is well-positioned for continued success.
Myomo, Inc. (MYO)
This company attracted the attention of a large number of investors, and because of this the stock price rose by some 180%. Another of the many technology companies whose main focus is the medical sector. Myomo specializes mainly in the production of robotic medical devices that can make life easier for people suffering from disorders that affect the nervous system.
Myomo’s main goal is much more than dominating the stock market, they aim to improve the quality of life and mental health of people suffering from some kind of limb paralysis. We believe that 2024 will be a pretty good year for Myomo.
Google (GOOGL)
Google, or Alphabet Inc., has been a dominant player in the tech industry for years and shows no signs of slowing down anytime soon. It has all the predispositions to be one of the top players in 2024. This is due to the constant growth and the sophisticated technology. With a diverse portfolio of products and services, including search, advertising, and cloud computing, Google is a top stock to keep an eye on this year.
The stock marketplace can be a very nerve-wracking experience, but also it can be a place with a lot of opportunities for new investors. In this article you got a chance to learn a thing or two about the stock market, what it takes to be a part of this dynamic journey, and which is one of the greatest companies out there.
If you are quite new to this and are interested in smart investing, you should consider one of the companies we shared today. What will 2024 bring for the stock market? We don’t have a clue yet, but we are eager to find out.
