15 AI Stocks That Skyrocketed in Q4

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1. Palladyne AI Corp. (NASDAQ:PDYN)

Number of Hedge Fund Holders: N/A

Stock Price Performance in Q4 2024: ~585.5%

Palladyne AI Corp. (NASDAQ:PDYN) develops AI/ML software for enhancing third-party stationary and mobile robotic systems across industries like manufacturing, logistics, defense, and aviation. Its platform enables robots to adapt to structured and dynamic environments in real-time with minimal programming or training.

Palladyne AI (NASDAQ:PDYN) saw a decline in stock price since December 30 but had a strong performance in Q4 2024. The stock surged in early October following the announcement of its partnership with Red Cat Holdings to integrate Palladyne’s AI-based Pilot software into Teal drones, enhancing autonomous navigation and object detection.

On October 8, the company also completed Phase I of a contract with the Air Logistics Complex at Warner Robins Air Force Base, continuing to Phase II with its Palladyne IQ software for automated remediation tasks. In late November, news about expanding its partnership with Red Cat likely contributed to another stock surge.

The stock saw a sharp rise of over 270% between December 23 and 30, following the successful autonomous flight of its Palladyne Pilot software, which demonstrated target identification and tracking capabilities. The company plans to commercialize the platform by Q1 2025, making advanced AI available for smaller drones.

While we acknowledge the potential of Palladyne AI (NASDAQ:PDYN) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than PDYN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

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