In 2024, the stock market has witnessed a remarkable display of resilience and innovation, with several companies emerging as the best-performing US stocks. Despite economic uncertainties and global challenges, these standout performers have not only weathered the storm but have also surged ahead, driven by groundbreaking advancements and strategic prowess.
In this post, we will explore the standout achievements of these best-performing US stocks, highlighting their impact on industries and their potential for continued growth in a competitive global economy.
Best-performing US stocks in 2024
Below are the standout performers driving market growth and investor returns in 2024:
2. Longboard Pharmaceuticals Inc. (NASDAQ: LBPH)
Longboard Pharmaceuticals focuses on neurological diseases, particularly developmental and epileptic encephalopathies. Its drug candidate LP352 showed compelling early clinical results, propelling the stock up 393%. This surge underscores growing optimism in Longboard’s potential to address severe seizure disorders, highlighting its pivotal role in advancing therapeutic options for patients with complex neurological conditions.
2. Avidity Biosciences Inc. (NASDAQ: RNA)
Avidity Biosciences has surged 319% in 2024, making it one of the best-performing US stocks with its innovative RNA therapeutics platform. Using antibody-oligonucleotide conjugates (AOC), Avidity targets genetic diseases like myotonic dystrophy and muscular dystrophy. Its lead programs, including AOC-1020 for facioscapulohumeral muscular dystrophy, showed unprecedented efficacy in mid-phase trials, attracting significant investor interest in its potential to revolutionize disease treatment with precise genetic targeting.
3. NuScale Power Corp. (NYSE: SMR)
NuScale Power is revolutionizing clean energy with its small modular reactors (SMRs), gaining 307% this year. Backed by substantial government investments and certification from the U.S. Nuclear Regulatory Commission, NuScale stands out in the quest for sustainable energy solutions. Its advancements in nuclear technology underscore its pivotal role in shaping the future of global energy production, attracting investors bullish on clean and reliable power sources.
4. Janux Therapeutics Inc. (NASDAQ: JANX)
Janux Therapeutics surged 260% in 2024, solidifying its position as one of the best-performing US stocks by pioneering immunotherapies that target tumor-specific immune responses. JANX007 and JANX008, in clinical trials for prostate cancer and solid tumors, demonstrated robust safety and efficacy profiles. The company’s advancements in cancer treatment, coupled with acquisition rumors, fueled investor optimism in Janux’s potential to reshape oncology therapies.
5. Arcutis Biotherapeutics Inc. (NASDAQ: ARQT)
Arcutis Biotherapeutics specializes in dermatological treatments, achieving a remarkable 200% increase in its stock value this year. Positive trial results for its dermatology products, including treatments for psoriasis and atopic dermatitis, underscore Arcutis’ leadership in therapeutic innovation. With potential expansions and continued clinical advancements, Arcutis is well-positioned to sustain momentum in the competitive biopharmaceutical market.
6. Core Scientific Inc. (NASDAQ: CORZ)
Core Scientific gained 200% this year, marking it as one of the best-performing US stocks, specializing in digital asset mining and blockchain infrastructure. Rebounding from financial challenges, Core Scientific benefited from strategic partnerships and soaring cryptocurrency prices. As a key player in blockchain technology and digital infrastructure solutions, Core Scientific continues to capitalize on growing market demand and technological advancements, driving its stock performance amidst evolving digital economies.
7. Super Micro Computer Inc. (NASDAQ: SMCI)
Super Micro Computer surged 196% in 2024, establishing itself as one of the best-performing US stocks, producing a wide range of tech hardware including servers and networking equipment. Positioned at the forefront of cloud computing and AI technology, Super Micro benefits from the growing demand for digital infrastructure solutions. Its diverse product portfolio and technological innovations have propelled its stock amidst strong sectoral momentum and investor enthusiasm.
8. Vital Farms Inc. (NASDAQ: VITL)
Vital Farms, known for its sustainable agricultural practices, witnessed a 184% increase in its stock value this year. Strong revenue growth and expanded margins underscore Vital Farms’ success in meeting consumer demand for ethically sourced products. As a leader in pasture-raised food production, Vital Farms continues to resonate with investors focused on environmental sustainability and ethical business practices.
9. Viking Therapeutics Inc. (NASDAQ: VKTX)
Viking Therapeutics surged 179% in 2024 on the heels of positive clinical trial outcomes for VK2735, a potential breakthrough in obesity treatment. With promising efficacy and safety profiles, VK2735 represents a significant advancement in metabolic disorder therapies, positioning Viking as a frontrunner in the biotechnology landscape. Investor optimism remains high as VK2735 progresses towards potential regulatory approval, signaling substantial upside potential.
10. Summit Therapeutics Inc. (NASDAQ: SMMT)
Summit Therapeutics surged 168% in 2024, establishing itself as one of the best-performing US stocks with its cancer treatment SMT112, showing superior efficacy in treating metastatic lung cancer compared to leading drugs. The positive clinical outcomes underscore Summit’s potential to redefine cancer therapy standards. With strong market demand and ongoing advancements, Summit remains a pivotal player in biopharmaceutical innovation.
Final Thoughts
The best-performing US stocks of 2024 highlight a diverse spectrum of industries and technologies driving market growth and investor returns. As investors navigate future opportunities, these leaders underscore the transformative power of innovation in shaping the future of global markets.