The broad markets pulled back to start out the week, but this has come after what has been an incredible past quarter. Most of the run-up in the markets has been a result of big tech, and some of the winners have been largely outsized.
The S&P 500 is only about 14% higher year to date, and 205 of its components have not posted gains on the year. On the other hand, a few S&P 500 members have more than doubled this year.
Even with the massive gains for this small group of stocks, can they keep up the pace into 2021 as the markets are continuing to push higher?
Here, 24/7 Wall St. looks at five of the biggest winners in the S&P 500 so far in 2020. We have included some analysis, a recent trading history on each stock and what analysts are saying about it.
Tesla
Tesla Inc. (NASDAQ: TSLA) only just joined the S&P 500, and it literally has been the vehicle for more traders to make massive sums of cash this year. The stock is up 731% year to date. With the electric vehicle (EV) market continuing to grow and more players getting into the arena, Tesla could very well keep up the pace in the coming year.
Tesla stock recently hit a 52-week high of $695.00, and it is trading much higher than the 52-week low of $70.10. The consensus price target for the stock is $396.30.
Etsy
This company operates an e-commerce platform that serves a somewhat niche market. Etsy Inc. (NASDAQ: ETSY) offers more eccentric and artisanal goods on its marketplace that are much more customized than almost anything from Walmart or Amazon. The stock is up roughly 331% year to date. With the rising tide of e-commerce, it seems that this stock can continue on this path.
Etsy stock has traded mostly between $185 and $190 in recent days, in a 52-week range of $29.95 to $193.00. Analysts have a consensus price target of $163.29.
Carrier
Carrier Global Corp. (NYSE: CARR) provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security and building automation technologies across the world. The firm’s most recent earnings report was a big success, with increased guidance for the full year. Note that HVAC sales in North America were up about 46% in the third quarter, and total HVAC sales were up 11%. The stock has run about 223% year to date and, assuming the company keeps pace with its guidance, the stock could keep rising from here.
Carrier Global stock has traded between $35 and $40 for the past month. It has a 52-week range of $11.50 to $41.48, and the consensus price target is $41.43.
Nvidia
This is one of the biggest chipmakers in the world and it has been wildly successful over the past few years. Nvidia Corp. (NASDAQ: NVDA) has been the tip of the spear for the tech sector. The stock is up about 126% year to date. While it has grown significantly from a $30 stock in 2015, only recently has it started to slow down. However, if trends in EVs and tech in general continue, this stock undoubtedly will continue to grow.
Since September, Nvidia stock has traded between $500 and $550 a share. The 52-week range is $180.68 to $589.07, while the consensus price target is $592.84.
L Brands
L Brands Inc. (NYSE: LB) is the one retailer on this list. Although this sector has been beaten up for years now at the hands of e-commerce, L Brands is effectively leveraging its omnichannel platform. Also, it helps that its Bath & Body Works subsidiary has been the go-to for many for home goods during this pandemic. The stock is up about 113% year to date.
For the past week or so, L Brands stock has been trading near $39. The stock has a 52-week range of $8.00 to $42.17 and a consensus price target of $42.08.
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