5 Revolutionary Stocks Poised to Energize Your Portfolio in 2024

By: Alex Freidmen

What an exhilarating start to the year! The spotlight now shines on companies wielding cutting-edge technologies that are revolutionizing a myriad of industries, from healthcare to technology and beyond. These are the trailblazers that are reshaping the world as we know it. Some of these stocks have already achieved substantial success, with ample room for further growth. In other cases, these stocks have been dormant, biding their time before they burst into the limelight.

As you embark on your investment journey in this new year, it would be prudent to consider adding a few of these captivating innovators to your portfolio. For the cautious investor, dipping a toe with a small position in one or two may be worth the while, while the more daring investor may eye larger positions. Let’s delve into five revolutionary stocks that hold the potential to invigorate your portfolio as early as this year.

The year 2024, in gold digits, is set against a stock chart with festive lights.

Image source: Getty Images.

1. CRISPR Therapeutics

CRISPR Therapeutics (NASDAQ: CRSP) has just achieved a groundbreaking milestone by securing approval for its inaugural product, Casgevy, designed for treating blood disorders. This regulatory vindication also made history as the first global nod for a therapy harnessed from CRISPR gene editing.

This innovative technique revolves around slicing DNA at specific sites, triggering a corrective process that repairs genes responsible for certain ailments. The astounding potential lies in its capacity to produce lasting cures, vastly enhancing the quality of life for patients. Casgevy, sanctioned for sickle cell disease, heralds a revolutionary era and CRISPR Therapeutics’ pipeline teems with other gene-editing candidates that may birth further game-changing treatments.

The promise of this technology, coupled with the anticipated influx of Casgevy revenue this year, positions CRISPR Therapeutics as an innovative force poised for ascension in the ensuing months and beyond.

2. Ginkgo Bioworks

Ginkgo Bioworks (NYSE: DNA) operates on the covert fringes, driving advancements in assorted sectors such as pharmaceuticals, materials, and agriculture. Its domain involves engineering organisms that empower companies in these sectors to craft superior products.

The organism maestro has inked numerous high-profile collaborations, with its recent pact for RNA therapeutics development with pharmaceutical behemoth Pfizer potentially reaping Ginkgo up to $331 million. Concurrently, the company’s active projects have notched up a 36% surge year over year in the third quarter.

Ginkgo’s cell engineering revenue soared by double-digit percentages in the most recent quarter. While the company is yet to turn a profit, its $1 billion cash reserve offers a multiyear runway to steer itself towards that goal.

These combined factors position Ginkgo’s shares, currently trading at less than $2 each, as a prospective opportunity to invest in a budding performer.

3. Alphabet

Alphabet‘s (NASDAQ: GOOG) (NASDAQ: GOOGL) shares ascended last year, but this foremost technology stalwart exhibits the fortitude to perpetuate its winning streak. As the parent entity of the search-engine titan, Google, the company magnetizes a throng of advertisers eager to connect with their target audiences – you and me.

Amid concerns that a slackening economy would crimp ad outlays, Alphabet adeptly circumvented a brief advertising lull to sustain overall revenue growth.

Why bet on sustained revenue expansion? To begin, Google commands 91% of the search market and has ingrained itself into our search habits; altering habits is famously challenging. Furthermore, as part of its foray into artificial intelligence (AI), Alphabet recently unveiled its most potent AI model to date. Currently undergoing trials in Google search, Gemini aspires to elevate the search experience to new echelons.

All these facets render Alphabet an enticing prospect at a mere 24 times forward earnings estimates, with ample room for further expansion in its stock value.

4. Teladoc Health

Teladoc Health (NYSE: TDOC) weathered a rough patch in the past couple of years. Despite revenue gains, investors fretted over the telemedicine titan’s struggle to attain profitability. The detrimental impact of billions of dollars in non-cash goodwill impairment charges tied to an acquisition only exacerbated the situation.

Yet, Teladoc seized the reins earlier this year, endeavoring to harmonize its pursuit of revenue growth with that of profitability. This initiative has borne fruit, with the company outstripping or matching expectations in recent quarters.

Presently, Teladoc is escalating its endeavors by initiating an exhaustive appraisal of its entire business operations. The aim is to channel investments and attention towards its primary focus of comprehensive, holistic care. In its latest earnings report, the company intimated that this move could catalyze a resurgence in its stock performance as well.

See also  Enovix Corp AnalysisChallenges Lie Ahead for Clean Tech Companies, but Enovix May Shine

Trading near its historical nadir in terms of sales multiples, Teladoc beckons as a prime overhaul-narrative purchase.

TDOC PS Ratio Chart

TDOC PS Ratio data by YCharts.

5. Tesla

Tesla‘s (NASDAQ: TSLA) stock soared last year, but this electric vehicle (EV) luminary could continue to ascend in 2024 – and more crucially, in the long haul.

The company has reached a pivotal juncture that may exert pressure on immediate growth; for instance, it is plowing investments into AI and endeavors to slash costs over the long term. Despite that, Tesla’s ambition to be a leader in electrification and autonomous driving technology, coupled with its robust brand cachet, positions it as an enduring force in the EV landscape.

Why Tesla’s Earnings Growth Spells Big Wins for Investors

Tesla’s Earnings Growth Spells Big Wins for Investors

Investors in Tesla are in for a thrilling ride ahead. The EV giant seems to be firing on all cylinders, with its earnings growth story getting more compelling by the day. For all those who have been backing the company and riding the waves through thick and thin, the latest financial figures come as a refreshing breeze of success. Let’s delve into the nitty-gritty to understand why Tesla’s future seems brighter than ever before.

Solid Earnings Growth Momentum

Tesla’s latest financial report card looks stunning, with revenue growth showing a remarkable ascent. The company’s dominant position as a market leader reinforces its ability to capitalize on the booming electric vehicle trend. The consistent upsurge in revenue underlines Tesla’s robust business model and the foresight of the management team, which can pull the right strings at the right time. The current trajectory is nothing short of a home run, indicating sustainable growth prospects and a betting investor sentiment.

Diverse Revenue Streams

Meanwhile, Tesla doesn’t just depend on one avenue for growth. It has successfully diversified its revenue streams, tapping into energy generation and services segments, both of which surged upward with double-digit percentage gains in the most recent quarter. This versatility not only enhances the company’s financial health but also minimizes risks associated with dependency on a single source of income. The shrewd expansion of revenue channels warrants confidence in Tesla’s long-term growth potential.

Robust Financial Position

Tesla’s burgeoning cash reserve, which now stands tall at over $26 billion, deserves a standing ovation. In a challenging high-interest-rate environment, this sizable cash stockpile is akin to a sturdy fortress protecting the company from external economic headwinds. It demonstrates Tesla’s financial prudence and its capability to weather storms while keeping the innovation momentum intact. The company’s consistent generation of free cash flow and profitability further cements its position as a resilient player in the market.

The Road Ahead

So, what does this mean for investors? It’s quite simple – Tesla’s strong financial underpinning and diversified revenue sources fuel optimism about a promising future. The company’s current trajectory signals a potential victory for every shareholder. As Tesla continues to navigate the ever-evolving automotive landscape and beyond, investors might be in for a profitable surprise much sooner than expected.

CRISPR Therapeutics: Invest or Retreat?

Amidst the buzz surrounding Tesla’s financial prowess, it’s essential to consider smart investment moves. One such player in the field is CRISPR Therapeutics, a compelling stock that has been making ripples in the market. While some voices are advocating for its potential, there are contrasting opinions regarding its investment attractiveness. The Motley Fool’s analysis might offer some perspective, shedding light on the 10 best stocks to bet on right now. Perhaps, a deeper dive into CRISPR Therapeutics’ prospects might just uncover the next golden opportunity for investors.

The Bottom Line

In the ever-evolving landscape of investing, Tesla’s upward trajectory paints an exciting picture for investors. Its resilient earnings growth, strong financial standing, and diversified revenue streams are elements that any investor dreams of. While CRISPR Therapeutics hangs in the balance, the fundamental question for investors is crystal clear – can you afford to miss out on Tesla’s winning streak?

Powering ahead, Tesla isn’t just revolutionizing the automotive industry; it’s setting a new benchmark for solid, sustainable growth in the broader market.

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Adria Cimino has positions in Tesla. The Motley Fool has positions in and recommends Alphabet, CRISPR Therapeutics, Pfizer, Teladoc Health, and Tesla. The Motley Fool has a disclosure policy.