2024’s Best-Performing Stocks: A Remarkable Year in the Market
The stock market has experienced a historic rally in 2024, reaching unprecedented highs. As of the end of May, the S&P 500 has surged over 10% year to date, fueled by strong first-quarter earnings that have overshadowed concerns about economic growth and potential stagflation. Investors are optimistic that the inflation outlook will continue to improve, further bolstering market performance.

The stock market has experienced a historic rally in 2024, reaching unprecedented highs. As of the end of May, the S&P 500 has surged over 10% year to date, fueled by strong first-quarter earnings that have overshadowed concerns about economic growth and potential stagflation. Investors are optimistic that the inflation outlook will continue to improve, further bolstering market performance.
Among the standout performers this year are stocks in the healthcare sector, those linked to artificial intelligence, and even a company associated with former President Donald Trump. Here are the ten best-performing stocks of 2024, all of which trade on major U.S. exchanges and boast market capitalizations of at least $1 billion.
2024's Best-Performing Stocks
Rank | Ticker | Company | Increase Rate |
---|---|---|---|
1 | VITL | Vital Farms Inc. | 163.8% |
2 | SG | Sweetgreen Inc. | 172.1% |
3 | SMCI | Super Micro Computer Inc. | 175.9% |
4 | DJT | Trump Media & Technology Group Corp. | 180.5% |
5 | RNA | Avidity Biosciences Inc. | 196.8% |
6 | NVAX | Novavax Inc. | 213.1% |
7 | SMMT | Summit Therapeutics Inc. | 232.9% |
8 | VKTX | Viking Therapeutics Inc. | 234.6% |
9 | JANX | Janux Therapeutics Inc. | 398.6% |
10 | LPA | Logistic Properties of the Americas | 712.5% |
Vital Farms Inc. (VITL)
Vital Farms is renowned for packaging, marketing, and distributing pasture-raised eggs, butter, and other products. Its popular brands include Vital Farms, Lucky Ladies, Alfresco Farms, and RedHill Farms. The company’s stock surged 163.8% year to date, driven by impressive first-quarter results that saw a 24.1% increase in revenue and a 4-percentage-point expansion in gross margin. The strong performance led Vital Farms to raise its fiscal 2024 revenue guidance to between $552 million and $575 million.
Sweetgreen Inc. (SG)
Sweetgreen operates a chain of sustainably sourced salad restaurants. After debuting on the public market in November 2021, the stock has experienced significant volatility. In May, Sweetgreen shares jumped 40% following a report of 5% same-store sales growth and $158 million in first-quarter revenue, exceeding expectations. Despite the stock’s 172.1% rise this year, some analysts attribute the gains to a short-term short squeeze.
Super Micro Computer Inc. (SMCI)
Super Micro Computer produces a variety of computer hardware products, including servers and networking equipment. The company has benefited from increased investor interest in sectors such as cloud computing, AI, blockchain technology, and autonomous vehicles. This enthusiasm has propelled Super Micro Computer shares up 175.9% in 2024, continuing the momentum from last year’s surge.
Trump Media & Technology Group Corp. (DJT)
Trump Media & Technology Group went public in March following a merger with a special-purpose acquisition company (SPAC). The company’s stock has soared 180.5% this year, buoyed by former President Donald Trump’s political prospects as the presumptive 2024 Republican Party nominee. The election year has heightened social media engagement, contributing to the stock’s performance.
Avidity Biosciences Inc. (RNA)
Avidity Biosciences is pioneering RNA therapeutics that target genetic drivers of diseases. The company’s stock is up 196.8% year to date, thanks to positive long-term data on its AOC-1001 treatment for myotonic dystrophy type 1, which received an FDA breakthrough therapy designation in early May.
Novavax Inc. (NVAX)
Novavax specializes in vaccines for infectious diseases. The company’s stock surged 213.1% in 2024, bolstered by a lucrative deal with French drugmaker Sanofi. The agreement, which includes a $500 million upfront payment and up to $700 million in additional payments, has significantly improved Novavax’s financial outlook.
Summit Therapeutics Inc. (SMMT)
Summit Therapeutics is developing treatments for infectious diseases. The stock’s 232.9% rise this year is largely due to the promising results of SMT112 (Ivonescimab) in treating metastatic non-small cell lung cancer. The drug’s efficacy has outperformed Merck & Co.’s Keytruda, which has driven investor enthusiasm.
Viking Therapeutics Inc. (VKTX)
Viking Therapeutics focuses on therapies for metabolic and endocrine disorders. The company’s lead drug, VK2735, showed positive results in mid-phase testing for obesity treatment, leading to a 234.6% increase in the stock’s value this year. Investors are optimistic about the drug’s potential as a significant weight loss treatment.
Janux Therapeutics Inc. (JANX)
Janux Therapeutics develops immunotherapies that target tumors without harming healthy tissue. The company’s stock is up 398.6% year to date, following encouraging safety and efficacy data from trials of JANX007 and JANX008. The potential for a buyout has also fueled speculation and stock performance.
Logistic Properties of the Americas (LPA)
Logistic Properties of the Americas owns and operates high-quality industrial and logistics real estate in Central and South America. The company went public via a SPAC merger in May, and its stock has skyrocketed 712.5% year to date. LPA is one of the few companies providing class A warehouses in the region, which has attracted significant investor interest.
The impressive performances of these stocks highlight the dynamic and often unpredictable nature of the stock market. As the year progresses, investors will be watching closely to see if these companies can maintain their momentum and continue to deliver strong returns.