As we stand on the brink of a new year, investors are keen to identify lucrative investment opportunities to kick off their portfolios. Presented here are three momentum stocks that have continued to defy gravity with their upward trajectory.
BrainsWay Ltd. (BWAY)
BrainsWay, the manufacturer of non-invasive neurostimulation treatments for mental health disorders, stands tall with a Zacks Rank #1. Over the last 60 days, the Zacks Consensus Estimate for its current year earnings has surged by an impressive 38.9%. The company’s shares have surged by a remarkable 66.5% over the last three months, outshining the S&P 500’s advance of 12.2%. Standing undefeated, BrainsWay holds a coveted Momentum Score of A, signifying its strong growth potential.
Ryanair Holdings plc (RYAAY)
Ryanair Holdings, a prominent passenger airline company, is not one to be left out of the limelight. With a Zacks Rank #1, Ryanair has witnessed a 5.3% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days. Its shares have soared by an impressive 38.9% over the last three months, surpassing the S&P 500’s progress by a wide margin. This sterling performance has earned Ryanair a Momentum Score of A, asserting its bullish market stance.
Equinox Gold Corp. (EQX)
Equinox Gold, the frontrunner in the exploration and development of mineral properties, has been a standout performer with its Zacks Rank #1. The Zacks Consensus Estimate for its current year earnings has vaulted by a substantial 72.7% over the last 60 days, signaling a red-letter year for the company. Surging by 15.6% over the last three months, Equinox Gold has confidently outpaced the S&P 500’s advance of 12.2%. Its Momentum Score of A further fortifies its position as a game-changer in the market.
Brace yourselves for an exhilarating ride as the market heats up with these momentum stocks poised to elevate your portfolio in the early days of 2024. For the investor with an eye for the zealous rise of market leaders, these momentum stocks promise to be a raging fire in the stock market landscape.
Learn more about the Momentum score and how it is calculated here.
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