Investing in small-cap stocks can offer the potential for high growth, but it also comes with increased risk. Here are nine small-cap stocks worth considering for purchase in 2024, based on their impressive 2023 performance and strong future outlook:
Applied Optoelectronics Inc. (AAOI)
This technology company manufactures fiber optic equipment, lasers, and other high-tech gear. Their 2023 performance saw an impressive 882% increase, and they are expected to continue their upward trajectory.
Bitfarms Ltd. (BITF)
This finance company focuses on cryptocurrency mining and has seen a 415.9% increase in 2023. With the growing popularity of cryptocurrency, Bitfarms is well-positioned for further growth.
Carvana Co. (CVNA)
This consumer discretionary company sells used cars online and has experienced a 740.3% increase in 2023. Their innovative online platform and focus on convenience are expected to drive further growth.
Carrols Restaurant Group Inc. (TAST)
This consumer discretionary company operates Burger King franchises and has seen a 491.9% increase in 2023. The strength of the Burger King brand and Carrols’ successful franchise management are positive signs for the future.
Duolingo Inc. (DUOL)
This technology company provides language learning apps and has seen a 203.9% increase in 2023. The growing demand for language learning and Duolingo’s user-friendly platform make them a promising investment.
e.l.f. Beauty Inc. (ELF)
This consumer staples company sells cosmetics and has seen a 132.6% increase in 2023. Their focus on affordable, high-quality products and strong online presence makes them well-positioned for continued growth.
Forestar Group Inc. (FOR)
This real estate company focuses on land development and has seen a 103.2% increase in 2023. The rising demand for housing and Forestar’s ability to capitalize on it make them attractive to investors.
Simpson Manufacturing Co. Inc. (SSD)
This materials company manufactures fasteners and has seen a 106.9% increase in 2023. Their strong presence in the construction industry and focus on innovation position them for further growth.
Talkspace Inc. (TALK)
This healthcare company provides online therapy services and has seen a 290.2% increase in 2023. The growing demand for mental health services and Talkspace’s convenient platform make them a potential disruptor in the healthcare industry.
While these small-cap stocks offer exciting possibilities, remember that past performance does not guarantee future results. Always conduct your own research and consult a financial advisor before making any investment decisions.