American stocks performed well in 2024, helped by the tailwinds of lower interest rates, solid corporate earnings, and artificial intelligence. The S&P 500 and Nasdaq 100 indices soared by over 25%, while the number of companies valued at over $1 trillion globally jumped to 10.
Many of the top HypeIndex stock picks also performed well, continuing a trend that has been ongoing since our inception. Most of these companies did well after their earnings or after receiving upgrades from Wall Street analysts.
Archer Aviation was a top HypeIndex stock
Archer Aviation was one of the top HypeIndex stock of the year as it jumped from $5 when we published its note to $10. This surge happened after analysts shifted their focus to companies in the EVTOL industry as they near their commercialization phase. Archer Aviation also raised money from Stellantis, which boosted its balance sheet and reduced chances of more dilution.
Marvell overtook Intel
Marvell Technologies stock price jumped from $66 to over $110, a move that pushed its valuation to over $100 billion, overtaking Intel. The company did well because of the AI tailwinds that have continued in the past few months. Also, it reached a deal with Amazon to build its AI chips, and analysts expect Microsoft or Google to be the next top customer.
Shopify stock surged in 2024
Shopify was another top HypeIndex stock as it moved from $71 since publication to $110. This growth happened as the company published strong financial results, signaling that its e-commerce software service was still popular. Shopify has gained market share against other firms and attracted more clients into its service.
Warner Bros. Discovery was a contrarian call
Warner Bros. Discovery stock also jumped from the publication level of $7.80 to $10.8. This strong performance happened even as the company faced major challenges during the year. All three of its businesses, networks, studio, and direct-to-consumer, slowed.
WBD's biggest challenge is that its television networks, like CNN and Discovery, are no longer as popular as they used to be. Their advertising and network revenues have continued falling in the past few years. As a result, it decided to slash their valuations as it considered whether to sell them.
Peloton Interactive stock almost doubled
Meanwhile, Peloton stock price rose to $9, up from $5 when we published our piece. This recovery was because analysts shifted their tone on the company as it became a fitness streaming business. While hardware sales are core, the company is boosting its profits by focusing on subscriptions.
Salesforce stock rose as growth continued
Salesforce was another top stock pick as its shares jumped from $248 to $315. CRM is one of the biggest customer relations and marketing players. It also owns Tableau, a business intelligence business, and Slack, which is widely used for communications and project management.
Salesforce’s business has continued to perform well as it evolved into an AI firm. It has incorporated AI across all its business divisions. Management has also continued focusing on cost cuts, which has helped it become a highly profitable company.
Robinhood stock boosted by robust markets
Robinhood stock rose from $32 to $40, helped by the stock and crypto market performance. The main indices like the S&P 500 and Nasdaq 1000 continued soaring, while crypto had one of the best years since 2021.
Robinhood’s business does well when stocks and crypto are thriving because the fear of missing out push more people to invest. The company also announced a deal to acquire Bitstamp, a leading player in the crypto industry in a $200 million deal. That buyout will help it become a bigger competitor to Coinbase and Binance.
Stocks outlook for 2025
American equities will likely have a difficult year in 2025 as Trump restarts his trade war and as the Federal Reserve maintains a hawkish view. There is also a risk that bond vigilantes will push bond yields higher as inflation risks remain and as Trump slashes taxes. All these headwinds and mean reversion will likely push stocks lower.
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HypeIndex is an AI platform that detects Hype in stocks and cryptos before it moves the market, providing reliable early detection for profitable investment opportunities.
The algorithm for our proprietary HypeIndex score is based on sentiment analysis, data science and machine learning.
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