Jim Cramer, the host of CNBC's "Mad Money," recently reviewed ten stocks that have seen significant growth in 2024, suggesting that they are smart investments, although they are also highly speculative.
What Happened: Cramer, on Wednesday, highlighted ten stocks, each valued at over $1 billion, that have experienced substantial growth this year, reported CNBC.
He cautioned that he is not currently recommending these stocks due to their high valuation, but he emphasized the importance of including speculative companies in investment portfolios for long-term performance.
"Let's remember this list of frothy stocks and think of them the next time you're about to ignore a stock for being too speculative," he said. "Because these names are often the epitome of speculating wisely, which can be the key for terrific long-term performance — of course, only when melded with index funds."
Here are ten stocks up more than 200% year-to-date:
- Rocket Lab (NASDAQ:RKLB): Cramer sees huge growth potential in its satellite business.
- Cava Group (NYSE:CAVA): Cramer believes it could reach Chipotle-like heights, with a familiar and accessible brand.
- Palantir Technologies (NYSE:PLTR): Cramer calls it a "cult stock" thanks to lucrative Pentagon deals.
- Powell Industries (NASDAQ:POWL): Cramer says it's a key supplier for critical data center infrastructure.
- Vistra Corp (NYSE:VST): Cramer notes its strong growth is driven by data center energy demand and renewable energy investments.
- Carvana (NYSE:CVNA): Cramer believes its debt reduction has made it more attractive despite past struggles.
- AST SpaceMobile (NASDAQ:ASTS): Cramer sees space technology potential, even though it's currently losing money.
- MicroStrategy (NASDAQ:MSTR): Cramer praises its Bitcoin holdings as a major growth driver.
- AppLovin (NASDAQ:APP): Cramer highlights its AI-driven app marketing success.
- NuScale Power (NYSE:SMR): Cramer sees strong investor interest, especially if it secures deals with hyperscalers.
- Bitcoin, Ethereum Consolidate, Dogecoin Surges As Election Rally Takes A Breather: Analyst Says Pullback 'Typical' For Healthy Market
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This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote
