We recently compiled a list of the Why These 24 Stocks Are Skyrocketing. In this article, we are going to take a look at where Microvast Holdings, Inc. (NASDAQ:MVST) stands against the other stocks.

One of the strongest stock market anomalies is the momentum effect, which is the tendency of recent past winners to outperform the recent past losers. That’s why we decided to take a look at some of the recent past winners in this article. These 24 companies, predominantly involved in the quantum computing, biotechnology, and technology sectors, have performed significantly well in the final quarter of 2024, registering spectacular returns over the 3 months.

That said, let’s take a look at the top 24 stocks that have skyrocketed and pose a solid growth opportunity in the coming year. We will also explore how well the stocks have performed throughout the year and what they have in store for 2025.

To come up with 24 names, we considered only the stocks that have at least $2 billion in market capitalization and have registered commendable returns in the fourth quarter of 2024.

A row of electric vehicles all powered by the company's advanced battery systems.

Microvast Holdings, Inc. (NASDAQ:MVST)

Q4 Returns as of December 31, 2024: 728%

In the fourth quarter of 2024, Microvast Holdings’ (NASDAQ:MVST) stock price surged by a whopping 728% from $0.25 on September 30, 2024.

Analysts are also bullish on the stock and their median price target of $3.5 represents an upside of 46% from current levels. According to analysts, MVST has grown its revenue by 40.65% over the past 3 years and by 39% year-over-year.

In the third quarter of 2024, the company generated record Q3 revenue worth a staggering $101.4 million, up by nearly 27% year-over-year. At the same time, MVST’s gross margin surged to 33.2%, up from 22.3% in Q3 2023.

The battery technology company is making strides as it plans to power the next generation of electric commercial vehicles. Keeping its growth trajectory in mind, Microvast Holdings Inc. (NASDAQ:MVST) expects FY 2024 revenue to range between $90-$95 million, representing a growth rate of 15-18%.

Overall MVST ranks 2nd on our list of the stocks that are skyrocketing right now. While we acknowledge the potential of MVST as an investment, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than MVST but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

 

Disclosure: None. This article is originally published at Insider Monkey.