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6 stocks that should be on your watchlist in 2024

6 stocks that should be on your watchlist in 2024
Ana Zirojevic

As January 2024 is already underway, it is time to start planning investment strategies, taking a look at one’s stock watchlist for the ongoing year, and refreshing it with those assets that have demonstrated strong fundamentals, bullish price action, and positive developments.

With this in mind, Finbold has analyzed the stock market in detail to discover and deliver a list of the six such assets that have stood out for various factors and should, therefore, find themselves on every serious investor’s radar for the current year – if they are not there already.

#1 Nvidia (NASDAQ: NVDA)

Indeed, the first on the list does not need a lot of introduction, as the semiconductor behemoth Nvidia (NASDAQ: NVDA) steadily outperformed throughout 2023, largely thanks to the artificial intelligence (AI) hype and the unveiling of the company’s new high-end chip – H200.

Currently, Nvidia stock is trading at $522.53, recording an increase of 6.43% on the day, advancing 5.51% across the previous week, and gaining 12.14% over the past month, adding up to the 12-month growth of 209.21%, as per the most recent chart information on January 9.

Nvidia 1-year stock price chart. Source: Finbold

#2 Tesla (NASDAQ: TSLA)

At the same time, the electric vehicle (EV) manufacturer Tesla (NASDAQ: TSLA) has profited off the global EV boom that hit a record high in the third quarter of 2023, according to Gary Black, an investment adviser registered with the United States Securities and Exchange Commission (SEC).

Global EV adoption by quarters. Source: Gary Black

As things stand, TSLA is currently changing hands at the price of $240.45, up 1.25% on its daily chart, down 3.23% in the past week, and declining 0.9% across the past month, but nonetheless recording a 96.45% growth across the previous 12 months, as the latest data suggests.

Tesla 1-year stock price chart. Source: Finbold

#3 CrowdStrike (NASDAQ: CRWD)

Meanwhile, the American cyber technology giant CrowdStrike (NASDAQ: CRWD) has risen as a key actor on the cybersecurity industry stage thanks to its AI-native platform Falcon, which promises to “stop breaches with comprehensive visibility and protection across the most critical areas of enterprise risk.”

As for its price, CRWD’s at press time amounted to $261.28, which represents an increase of 5.58% on the day, adding up to the weekly advance of 3.90%, the 9.62% gain on its monthly chart, as well as the 12-month positive change of an impressive 176.82%.

CrowdStrike 1-year stock price chart. Source: TradingView

#4 Cloudflare (NYSE: NET)

Furthermore, Cloudflare (NYSE: NET), the platform standing out for its promising cloud services, speed, and security for corporate applications and infrastructure, is another worthy addition to any investor’s watchlist due to its powerful features that serve around 20% of all internet traffic.

Amid its successful year, it has managed to increase its customer base and revenue, with its stock price currently standing at $79.64, which suggests an advance of 4.40% in the last 24 hours, a 2.20% decline across the previous seven days, a 4.82% monthly gain, and a 101.57% improvement over the year.

Cloudflare 1-year stock price chart. Source: TradingView

#5 Snowflake (NYSE: SNOW)

Another promising AI-oriented stock is Snowflake (NYSE: SNOW), which belongs to an enterprise software company specializing in business analytics and comprising unorganized information into ‘data lakes’ for easier access and decision-making, and which recorded impressive revenue in 2023.

In the meantime, SNOW was trading at the price of $196.35, recording gains on all of its charts, including racing 3.82% on the day, growing 0.69% over the past week, advancing 5% on its monthly chart, and adding up to the yearly improvement of 60.82%.

Snowflake 1-year stock price chart. Source: TradingView

#6 Zscaler (NASDAQ: ZS)

Finally, the cloud-based cybersecurity company Zscaler (NASDAQ: ZS) outperformed the S&P 500 and Nasdaq 100 in 2023 with exceptional revenue and earnings results that have beaten the management’s best expectations and set the stage for faster growth than the competition.

Favorably positioned for higher adoption and further penetration into its native market due to increased enterprise AI demand, Zscaler presently stands at $218.10, a daily gain of 3.95%, no change across the week, an advance of 10.15% over the month, and an increase of 107.28% in the past 12 months.

Zscaler 1-year stock price chart. Source: TradingView

Conclusion

Overall, the above stocks have all the prerequisites to make further advances in 2024 as long as they retain their positive outlook. That said, it is critical to carry out one’s own research before investing any significant amount of money into any asset on any market.

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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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