Coatue’s 35 Most Important AI Stocks

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14. Constellation Energy Corporation (NASDAQ:CEG)

Number of Hedge Fund Holders: 78 

Constellation Energy Corporation (NASDAQ:CEG) generates and sells electricity in the United States. The report for the third quarter of 2024 signals robust growth in revenue, making it a promising investment avenue. GAAP Net Income reported was $3.82 per share, and Adjusted (non-GAAP) Operating Earnings was $2.74 per share for the third quarter of 2024. The firm also narrowed the full-year 2024 Adjusted (non-GAAP) Operating Earnings guidance range to $8.00 – $8.40 per share. This demonstrates that the company is optimistic about its performance in the remainder of the year, expecting continued strong earnings. The company has also experienced an 80% increase in stock value over the past six months, attributed to the anticipated rise in electricity demand needed to support new AI data centers. This growth reflects the company’s strategic positioning to capitalize on the expanding AI sector.

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