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 trader at a stock exchange, vigorously watching the stocks’ trends in the stock market.
Why These 24 Stocks Are Skyrocketing
24. Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)
Q4 Returns as of December 31, 2024: 15%
SMFG’s stock price grew by 14.7% in Q4 2024, going from $12.63 on September 30 to $14.49 on December 31, 2024. On the financial front, the company has managed to grow its revenue by 14% over the past 5 years, 11% over the past 3 years, and 12% year-over-year.
The financial services giant in Japan has not only shown impressive performance on the financial front but has also been committed to expanding and improving its customer experience. To align with the goal, the company has forged several partnerships with companies to improve the impact of human capital and technology.
In November, Sumitomo Mitsui Financial Group (SMFG) formed a business alliance with Euphoria Co. to help companies improve their human capital management systems, placing an immense focus on employee well-being.
23. TaskUs, Inc. (NASDAQ:TASK)
Q4 Returns as of December 31, 2024: 31%
TASK’s stock price reached $16.94 on December 31, a 31.1% jump through the fourth quarter of 2024. Analysts are also bullish on the stock and their median price target represents an upside of 6% from current levels.
As of January 10, TASK had jumped 28% over the past year. The company also beat its revenue guidance by $9 million in Q3 2024 and delivered a 13% year-over-year growth rate.
Keeping its impressive financial performance and growth trajectory in mind, analyst firm Morgan Stanley raised its price target to $21 from $18 earlier in December 2024.
TaskUs Inc. (TASK), an emerging leader in outsourced digital services, established a partnership with Red Points to fuel its expansion strategy. The two partners will come together to protect users against brand impersonations and fake accounts using AI.
22. Solaris Energy Infrastructure, Inc. (NYSE:SEI)
Q4 Returns as of December 31, 2024: 127%
SEI’s stock jumped 126.5% in Q4 2024, going to $28.78 on December 31 from $12.7 on September 30, 2024. The surge in SEI’s stock price indicates positive investor sentiment, as the energy demand from data centers continues to rise at an expected compound annual growth rate (CAGR) of 20%.
Solaris Energy Infrastructure Inc (SEI) poses a viable investment opportunity as it plans to deliver reliable and scalable solutions to meet the power needs of various end markets including hyperscalers, mining companies, refineries, chemical processors, utility providers, and manufacturers.
The company grew its revenue by 7.7% year over year, generating $75.02 million in the third quarter of 2024. SEI is poised for growth as it works to fill the supply gap in critical, behind-the-meter power infrastructure.
21. BlackSky Technology Inc. (NYSE:BKSY)
Q4 Returns as of December 31, 2024: 128%
BKSY has remained quite consistent, closing Q4 2024 with a stock price of $10.79, registering a 128% jump from its $4.74 close on September 30, 2024.
The intelligence company that delivers real-time imagery has been garnering attention for its software and analytical services. Recently, the company won a $290 million contract to monitor global economic activity and assess military capabilities, underscoring its growing importance in the industry.
In addition to that, BlackSky Technology Inc. (BKSY) is committed to growth, evident from its expanding product line and investments in Gen-3 satellites.
20. Cidara Therapeutics, Inc. (NASDAQ:CDTX)
Q4 Returns as of December 31, 2024: 150%
Shares of CDTX rose to $26.9 on December 31, marking a 150% increase from the $10.75 close on September 30, 2024, emphasizing investors’ optimism on the company’s further growth potential in the therapeutics industry.
Analysts expect CDTX to reach $33, implying an upside of 24% from current levels. According to analysts, the company has grown its revenue by 45% year-over-year and by 19% over the past five years.
Earlier, analyst firm WBB Securities rated the stock as a strong buy and raised its price target for CDTX from $40 to $45. Similarly, analyst firm RBC Capital initiated an outperform rating following a price target of $34.
19. Airship AI Holdings, Inc. (NASDAQ:AISP)
Q4 Returns as of December 31, 2024: 172%
In the fourth quarter of 2024, AISP’s stock returned nearly 172%, locking in impressive gains. Airship AI Holdings Inc. (AISP) provides a wide variety of AI-driven solutions to customers in the law enforcement, defense, intelligence, and logistics industries.
Over the past few months, the company has been awarded several million-dollar contracts by state, private, and public organizations.
As the state continues to inculcate artificial intelligence in crucial functions, the demand for companies like AISP will be momentous. This explains why analysts are extremely bullish on the stock with their median price target of $8.5 representing an upside of 44% from current levels.
18. Nvni Group Limited (NASDAQ:NVNI)
Q4 Returns as of December 31, 2024: 190%
Shares of NVNI rose to $2.45 on December 31, marking a 190% increase from the $0.85 close on September 30, 2024, emphasizing investors’ shared optimism on the company’s growth potential in the B2B software industry.
Analysts expect the stock to grow by 83% based on their median price target of $5. In the fiscal year of 2023, the company logged a 36% year-over-year in revenue and a 43% increase in gross profit.
Nvni Group Limited (NVNI) is growing to become a leading consolidator to private SaaS B2B companies in Latin America. The company and investors place optimistic bets on the stock and future performance, based on its robust acquisition pipeline and current portfolio.
17. BigBear.ai Holdings, Inc. (NYSE:BBAI)
Q4 Returns as of December 31, 2024: 205%
BigBear.ai Inc (BBAI), the IT service management company, returned almost 205% in the fourth quarter of 2024, with its share price growing from $1.46 apiece on September 30 to $4.45 on December 31, 2024.
The surge in BBAI’s stock price underscores investor optimism about the company’s growth potential in developing AI-backed decision-making solutions for the defense and national security industries.
The emerging leader in AI-backed decision solutions was recently awarded a contract worth a staggering $165 million to deliver the US Army’s Global Force Information Management system: Objective Environment (GFIM-OE). In addition to that, BBAI also saw a 22.1% year-over-year increase in revenue in the third quarter of 2024.
16. Quantum-Si incorporated (NASDAQ:QSI)
Q4 Returns as of December 31, 2024: 206%
Shares of QSI rose to $2.7 on December 31, 2024, marking a 206% increase from the $0.88 close on September 30, emphasizing the growing wave of quantum computing as the government allocates billions to quantum innovation.
QSI, a life-sciences company that is developing a single-molecule detection platform for protein sequencing, is highly optimistic when it comes to its long-term commercial opportunity and expects to deliver solid financial gains in the coming year.
In December alone, Quantum-Si Incorporated (QSI) launched a protein barcoding kit for multiplexed protein screening and a new library prep kit to accelerate access to next-gen protein sequencing.
QSI also saw a massive increase in revenue, generating $787,000 in the third quarter of 2024, up from $223,000 in the third quarter of 2023.
15. Porch Group, Inc. (NASDAQ:PRCH)
Q4 Returns as of December 31, 2024: 221%
In an impressive feat, the stock returned nearly 221% in the fourth quarter of 2024. PRCH went from $1.5 on September 30 to $4.9 on December 31, 2024.
Porch Group Inc. (PRCH), a vertical software and insurance company, has grown its revenue by 42% over the past three years and by 19% year-over-year, owing to its investments in technology.
The company has also become more profitable, generating record profitability in the third quarter of 2024, with $14 million in net income, $17 million in adjusted EBITDA, and 12 million in operating cash flow.
14. Archer Aviation Inc. (NYSE:ACHR)
Q4 Returns as of December 31, 2024: 222%
Archer Aviation Inc (ACHR) is a rapidly growing aircraft company with a mission to develop high-performing vertical take-off and landing aircraft in urban networks. In the fourth quarter of 2024, ACHR’s stock price returned 221.8%; exhibiting remarkable growth.
The stock is expected to skyrocket and we say that because of its roadmap to the commercial deployment of its aircraft in 2025. Over the past few months, the company has accelerated its certification processes and signed partnerships, positioning it as an emerging leader in aircraft technology.
On December 18, 2024, Analyst firm Cantor Fitzgerald increased its price target for ACHR to $13 from $10. Similarly, Street’s median price target of $11 pointed to an upside of 15% from current levels as of January 2.
13. SES AI Corporation (NYSE:SES)
Q4 Returns as of December 31, 2024: 242%
SES AI Corp (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 (SES) can expect an influx of demand from EV companies, especially now that the company is moving towards commercial agreements.
12. The RealReal, Inc. (NASDAQ:REAL)
Q4 Returns as of December 31, 2024: 248%
In the fourth quarter of 2024, REAL’s stock price returned nearly 248.1%. Aligning with investor expectations, analyst firm Northland Capital Markets raised its price target to $12.5 from $6.5, and Wells Fargo raised its price target for REAL from $4 to $15.
The online marketplace for clothing also delivered solid financial results in the previous quarter, contributing to the positive investor outlook. In 2023, REAL generated $1.7 billion in gross merchandise value and as of September 30, 2024, the company boasts a growing community of 37 million members.
The average consumer in the United States has been showing resilience. REAL is expected to pose a solid growth opportunity in 2025, which is evident from its growing revenue, generating $148 million in Q3 2023, growing by 11% year-over-year.
11. uniQure N.V. (NASDAQ:QURE)
Q4 Returns as of December 31, 2024: 258%
Uniqure NV (QURE), an emerging leader in gene therapy, registered a 258% jump in its stock price in Q4 2024, closing the quarter at $17.66, up from $4.93 on September 30, 2024.
QURE boasts a solid growth opportunity, having increased its revenue by $0.8 million in Q3 2024 from the same period in 2023. The stock’s growth trajectory can also be explained by its liquidity situation, after having retired nearly $50 million of its outstanding debt, reducing annual interest expense by nearly $5 million.
Wall Street is also positive on the stock, posting an upside of 39% to its median price target of $25. At the same time, on December 19, 2024, analyst firm Mizuho raised its price target from $7 to $20, and on December 12, 2024, Goldman Sachs increased its price target for QURE to $20 from $9.
10. Chimerix, Inc. (NASDAQ:CMRX)
Q4 Returns as of December 31, 2024: 274%
CMRX surged 274% in the last quarter of 2024, underscoring investor optimism. As of January 10, the stock had jumped by 257% over the past year.
The biotechnology company is committed to developing innovative medicines for cancer and other serious diseases and improving the lives of patients. Over the past few months, the company has displayed accelerated performance in trials and has shown commitment to expanding its product pipeline.
Chimerix’s (CMRX) novel drug, Dordaviprone- which holds the potential to treat patients with H3 K27M-mutant diffuse glioma- is currently being evaluated for phase 3 trials and is expected to release partial data by the third quarter of 2025.
Analysts have shared a bullish sentiment on the stock, with their median price target of $8 implying an upside of 121% from current levels.
9. Kodiak Sciences Inc. (NASDAQ:KOD)
Q4 Returns as of December 31, 2024: 281%
On December 31, KOD’s stock price reached $9.95 from $2.61 on September 30, 2024, returning 281% in the fourth quarter of 2024, as investors placed their bets on the stock. Consequently, Street’s high price target of $20 represents an upside of 119% from current levels.
Earlier in December 2024, analyst firm Jefferies also shared their bullish sentiment on the stock upgrading their rating from hold to buy with a price target of $20.
As the company transitions to a tech revolution, investors and analysts place high hopes on KOD’s research and development and commercial activities. In addition to that, in the third quarter of 2024, the company accelerated the commercialization of several of its clinical programs, emphasizing its growing position in the industry.
8. SoundHound AI, Inc. (NASDAQ:SOUN)
Q4 Returns as of December 31, 2024: 326%
SOUN registered a 326% growth in its share price in Q4 2024, finishing the quarter ended December 31 at $19.8 apiece from the $4.66 close on September 30, 2024.
SOUN has diversified into several industries and customers, as of Q3 2024, logging $25.1 million in revenue, growing by 89% year-over-year.
SoundHound AI is growing, but not just in terms of revenue. During the third quarter, the company signed plenty of partnerships and acquisitions aligning with its expansion strategy.
In December, the company onboarded Church’s Texas Chicken as a customer to power voice AI at the company’s drive-through. Similarly, on January 2, Lucid Motor launched their Lucid Assistant, powered by SoundHound Chat AI, in their electric vehicles.
7. Aligos Therapeutics, Inc. (NASDAQ:ALGS)
Q4 Returns as of December 31, 2024: 360%
ALGS registered a 360% increase in its stock price during the fourth quarter of 2024, going from $8.66 on September 30 to $39.84 apiece on December 31, 2024.
The surge in ALGS’ stock price underscores investor optimism and a positive investor outlook. Its growing popularity can be attributed to its expanding product pipeline and positive data from clinical trials.
Aligos Therapeutics (ALGS) boasts an estimated opportunity worth $6.2 billion by 2031 as the number of patients with chronic hepatitis eyes an upward trajectory. So far, its trials have yielded positive results, boosting the company’s current and future position.
6. IonQ, Inc. (NYSE:IONQ)
Q4 Returns as of December 31, 2024: 378%
Shares of IonQ rose to $41.77 on December 31, marking a 377.9% increase from the $8.74 close on September 30, 2024, as investors placed bets on the company’s further growth potential and impressive financial performance over the past year.
In the past year, IONQ’s stock price has jumped by 168%, as of January 10, emphasizing investor optimism. At the same time, on December 20, analyst firm Craig-Hallum raised its price target to $45 from $22.
IONQ increased its revenue by 102% year-over-year in the third quarter of 2024. During the same quarter, the company secured solid quantum contracts, improving its standing in the industry. In a solid move, IonQ Inc (IONQ) recently completed the acquisition of Qubitekk, expanding its quantum networking capabilities.
5. Red Cat Holdings, Inc. (NASDAQ:RCAT)
Q4 Returns as of December 31, 2024: 406%
RCAT has shown solid performance, closing December 31 with a stock price of $12.85, a 406% increase from its $2.54 close on September 30, 2024. In the past year, RCAT’s stock price has jumped by a whopping 1,400%, as of January 10.
The company is revolutionizing the aircraft industry with its intelligent surveillance and precision systems. In the fiscal second quarter of 2025, the company formed several partnerships and secured million-dollar contracts to advance its technology and accelerate its position in the industry.
Red Cat Holdings Inc. (RCAT) also logged revenue worth $4.3 million year-to-date, as of FQ2 2025.
4. LeddarTech Holdings Inc. (NASDAQ:LDTC)
Q4 Returns as of December 31, 2024: 409%
LeddarTech Holdings Inc. (LDTC) posted a 409% jump in its stock price during the fourth quarter of 2024, going from $0.3 on September 30 to $1.5 on December 31, 2024.
LeddarTech Holdings Inc. (LDTC) is an emerging AI company that develops and provides AI-backed software solutions for ADAS and autonomous driving. Year-over-year the company has grown its revenue by 142% and its stock price has surged by 23% during the same period.
Even though the changing market dynamics are favoring key stakeholders in the autonomous driving industry, LeddarTech Holdings Inc. (LDTC) is going the extra mile by forging partnerships with key partners to revolutionize automotive technology and high-performance autonomous driving solutions.
3. Scholar Rock Holding Corporation (NASDAQ:SRRK)
Q4 Returns as of December 31, 2024: 440%
In Q4 2024, SRRK’s stock price returned nearly 440%, going from $8.01 on September 30 to $43.22 on December 31, 2024. The increase can be attributed to its expanding position in its underlying biotechnology prowess and growing drug portfolio.
Not only does the Street weigh positively on the stock, but analyst firm Wedbush also raised its target price for SRRK to $50 from $40 earlier, while HC Wainwright & Co. increased its price target to $47 from $40.
SRRK is expected to carry momentum, which is evident from its research and development allocated to drug discovery and development. Aligning with its goal, Scholar Rock Holding Corp (SRRK) completed several trials in the third quarter of 2024 and reported positive data from the Phase 3 trials of its leading drug, SAPPHIRE.
2. Microvast Holdings, Inc. (NASDAQ:MVST)
Q4 Returns as of December 31, 2024: 728%
In the fourth quarter of 2024, Microvast Holdings’ (MVST) stock price surged by a whopping 728% from $0.25 on September 30, 2024.
Analysts are also bullish on the stock and their median price target of $3.5 represents an upside of 46% from current levels. According to analysts, MVST has grown its revenue by 40.65% over the past 3 years and by 39% year-over-year.
In the third quarter of 2024, the company generated record Q3 revenue worth a staggering $101.4 million, up by nearly 27% year-over-year. At the same time, MVST’s gross margin surged to 33.2%, up from 22.3% in Q3 2023.
The battery technology company is making strides as it plans to power the next generation of electric commercial vehicles. Keeping its growth trajectory in mind, Microvast Holdings Inc. (MVST) expects FY 2024 revenue to range between $90-$95 million, representing a growth rate of 15-18%.
1. Rigetti Computing, Inc. (NASDAQ:RGTI)
Q4 Returns as of December 31, 2024: 1849%
In the fourth quarter of 2024, RGTI returned a staggering 1849%, growing from $0.78 on September 30 to $15.2 on December 31, 2024.
The quantum integrated circuits developer has a solid growth opportunity as tech giants and the US government increase their stake and investment in quantum computing.
In the third quarter of 2024, the company generated $2.4 million in revenue. While the company is still making a loss, RGTI expects to release revolutionary quantum chips in 2025, boosting investor optimism.
In an impressive feat, on December 23, 2024, Rigetti Computing Inc. (RGTI) launched its revolutionary 84-qubit Ankaa-3 system. The quantum computer offers superior performance and is capable of 3D signal delivery.
While we acknowledge the potential of RGTI to grow, 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 RGTI 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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