The S&P 500 hit 52-week highs as the VIX or better known “fear index” fell to its lowest since 2020. Given this, which companies have risen the most so far this year.
Wall Street continues to rise, driven by expectations that corporate profits will beat forecasts and the US consumer will continue to spend. In turn, fears of the United States entering a recession have dissipated, as there has been a slowdown in inflation and, therefore, the Fed is expected to raise rates for the last time. Given this, there was a very good semester on the New York Stock Exchange and these were the companies that rose the most.
Nvidia: +213%
Nvidia is part of boom for artificial intelligence and, furthermore, it leads the advancement of technology. The company managed to position itself as a leader in the field of microchips and its products are used in the OpenAI ChatGPT platform. In addition, it signed notable agreements to provide these devices with ServiceNow and Snowflake.
Coinbase: +191%
Coinbase shares reached a maximum of 14 months after a decisive ruling on cryptocurrencies. Specifically, the Ripple token managed to win a legal battle against the SEC. A court affirmed that cryptocurrencies “are not assets of value”, which favored the crypto ecosystem. Coinbase had also felt a legal onslaught from the Securities and Exchange Commission.
Goal: +160%
Meta’s shares soared last week to a new 52-week high after receiving another notable improvement from analysts thanks to the launch of its Twitter competitor, Threads. Additionally, Meta is considered “the leading social advertising platform” thanks to its “combination of reach, relevance, social context, and engagement.”
Palantir: +157%
The action rose to the wave of rises of technology and artificial intelligence companies. Palantir is an analytical software company specializing in the use of data to optimize the operational efficiency of its clients.
Tesla: +140%
Elon Musk’s automaker shook the market by reporting that production and delivery figures for the second quarter hit all-time records.
Spotify: +118%
In the last balance presented in April, The streaming platform announced that it exceeded 500 million active users per month. The service has 515 million active users since March 31, 15 million more than expected by the company.
Shopify: +99%
The ecommerce tech company also artificial intelligence boom rises. As reported by Tobi Lütke, CEO and founder of Shopify, the company will deploy Sidekick, an AI digital assistant designed for commerce.
AMD: +81%
Advanced Micro Devices shares have been following the performance of its competitor Nvidia. The earnings and revenue results for the first quarter that exceeded estimates and revenue forecast for the second quarter also exceeds the analyst consensus.
Uber: +80%
The shares of the private transport company reported a 13% increase in users in the first quarter of 2023 compared to the end of last year. Mobility revenues grew 72% and, those of food delivery, 23% compared to the previous quarter.
Airbnb: +65%
Airbnb’s stock price had strong recovery this year as the demand for travel continues to increase. In the most recent quarter, the company’s revenue increased by more than 20% to $1.8 billion.
Source: Ambito
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