5 Stocks We Wish We Had In Our Stockings in 2023
As we ebb closer to the end of 2023, we can’t help but think back to this time last year. If we knew what we know now, where would we have put our money? Hindsight is a wonderful thing, so, join in our anguish this week as we review the stocks we wish we’d bought…
2023: A Robust Market
Despite continued inflation and the ever-present threat of recession, 2023 will be remembered as a pretty steely market, seemingly impervious to outside influences. What a difference a year makes, eh? Economists are now putting the chances of a recession in 2024 as low as 50%.
The tech sector has again pulled the rest of the market up with it, buoyed by the burgeoning industry that surrounds artificial intelligence. Even Crypto has had a pretty decent year.
To underline that, we’re going to highlight the 5 stocks that would make us time travel back to 23.12.2022 and invest $1,000 in. Ready to be depressed?
The 5 Best-Performing Stocks of 2023
#1 Affirm Holdings (AFRM)
AFRM YTD performance: +437%
Our ROI ($1,000): $5,370 (+$4,370)
Source: Google
Affirm Holdings, Inc. is a fintech company that claims it’s revolutionising the “buy now, pay later” (BNPL) scene.
The company was founded in 2012 and has emerged as a bit of a leader in the BNPL industry. That was underpinned when Affirm’s shares received a big boost at the end of November (as you can see) following an expansion of its agreement with Amazon (AMZN).
It’s called the “Get Free Report”, and it gives the company exclusive access to millions of new customers and their delicious data. Sweet!
The company has a market cap of $13.19 billion and our investment would have made a tidy 437% increase, had we believed our crystal ball last year.
#2 ImmunoGen (IMGN)
IMGN YTD performance: +531%
Our ROI: $6,310 (+$5,310)
Source: Google
ImmunoGen is a biotech firm that specialises in the development of antibody-drug conjugates (ADCs) for the treatment of cancer.
To put it mildly, it’s had an outstanding 2023, offering investors a 531% return on their investment — making us feel even more miserable for missing out.
Why the surge? Shares jumped 140% following positive trials of its ovarian cancer drug, Elahere. The company also landed accelerated approval for the drug from the FDA. Shares leapt again on the news that Big Pharma giant, AbbVie (ABBV), is planning on acquiring the company in a deal worth $10.1 billion.
#3 Marathon Digital Holdings (MARA)
MARA YTD performance: +619.41%
Our ROI ($1,000): $7,190 (+$6,190)
Source: Google
Marathon Digital Holdings is a cryptocurrency mining firm. It’s shares went wild in November and December, largely propped up by Bitcoin’s crazy growth in 2023.
The company’s stock has flown up over 600% this year. BTC is getting increasingly hard to mine as its supply dwindles. Marathon saw an opportunity and significantly invested into mining hardware. It seems to have paid off!
The company has a market cap of $4.43 billion. Oof!
#4 Carvana (CVNA)
CVNA YTD performance: +1,308%
Our ROI ($1,000): $14,080 (+$13,080)
Source: Google
Founded in 2012, Carvana quickly established itself as a leading digital retailer of used cars, offering a seamless and convenient shopping experience that eliminates the hassle of traditional dealerships… And they seem to be doing a pretty decent job of it, too.
The share price has jumped over 1,308% this year. Incredible! Especially given that the company made a 97% loss in 2022 and was apparently on the verge of bankruptcy. There’s a warning in there somewhere, perhaps…
Carvana commands a market cap of $11.94 billion and a staggering turnaround story to tell the grandkids!
#5 Soleno Therapeutics (SLNO)
SLNO YTD performance: +2,460%
Our ROI ($1,000): $25,600 (+$24,600)
Source: Google
Last but not least, Soleno Therapeutics — the company that makes us totally regret doing whatever we thought was better than investing our $1,000 in their stock.
The company is focused on therapies for rare diseases. Its prized remedy, and one of the main reasons behind its astronomical success this year, is the diazoxide choline extended-release tablet. The drug is used as a treatment for Prader-Willi Syndrome, a genetic disorder that impacts physical, cognitive, and behavioural health.
In September, the drug went through successful trials, which made the stock price leap. Like a lot!
Soleno Therapeutics has a market cap of $1.16 billion.
One time machine for the Contentworks Agency team please!
A little can go a long way
This probably serves as a good indication that even a modest investment can go pretty far if the wind is blowing in a favourable direction.
However, we don’t want you to get your hopes up. For every successful stock in 2023, hundreds and thousands of stocks have dropped and lost their investors a lot of money.
Trading is a complex and extremely risky business. Only invest what you’re willing to lose. If you go into it with that mindset, everything else is just a bonus.
Your turn!
What was your best trade of the year? Do you have any tips for 2024? We’d love to know. Join us over on X: @_contentworks.
Here at Contentworks we closely follow market movements and prep content that we think your traders would love to read. Let’s get you started right here.
Speak soon!
The Contentworks team
