Here’s Why SES AI Corporation (SES) Is Skyrocketing

We recently compiled a list of the Why These 24 Stocks Are Skyrocketing. In this article, we are going to take a look at where SES AI Corporation (NYSE:SES) stands against the other stocks.

One of the strongest stock market anomalies is the momentum effect, which is the tendency of recent past winners to outperform the recent past losers. That’s why we decided to take a look at some of the recent past winners in this article. These 24 companies, predominantly involved in the quantum computing, biotechnology, and technology sectors, have performed significantly well in the final quarter of 2024, registering spectacular returns over the 3 months.

That said, let’s take a look at the top 24 stocks that have skyrocketed and pose a solid growth opportunity in the coming year. We will also explore how well the stocks have performed throughout the year and what they have in store for 2025.

To come up with 24 names, we considered only the stocks that have at least $2 billion in market capitalization and have registered commendable returns in the fourth quarter of 2024.

A line of electric vehicles being produced in a Massachusetts-based production facility.

SES AI Corporation (NYSE:SES)

Q4 Returns as of December 31, 2024: 242%

SES AI Corp (NYSE:SES) is a battery manufacturing company specializing in the production and development of lithium metal batteries for electric vehicles. SES registered a 242% jump in its stock price in the fourth quarter of 2024.

In October 2024, the company announced its first AI commercial agreement, evidence of the company’s solid growth trajectory in 2025.

As the demand for electric vehicles grows, SES AI Corp (NYSE:SES) can expect an influx of demand from EV companies, especially now that the company is moving towards commercial agreements.

Overall SES ranks 13th on our list of the stocks that are skyrocketing right now. While we acknowledge the potential of SES as an investment, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SES 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.

Disclosure: None. This article is originally published at Insider Monkey.