The stock market is performing well in 2024, with the S&P 500 index reaching new highs. Two top stocks to consider for long-term investment are StoneCo, a Brazil-based financial technologies company with strong growth potential, and Take-Two Interactive, a leading video game publisher set to release Grand Theft Auto VI, which is expected to significantly boost its financial performance. Both stocks offer promising opportunities for investors looking to capitalize on sustained growth in the market.
The Motley Fool recommends two growth stocks, Palantir and StoneCo, both trading at under $20 per share. Palantir, a data software company, is down 59% from its lifetime high and is expected to benefit from AI initiatives and increasing sales to private-sector customers. StoneCo, a payment processing services provider in Brazil, is down 82% from its high and is attractively priced, with its payment processing business showing impressive growth despite setbacks in its loan segment. Both stocks present opportunities for long-term investors.
Despite significant valuation swings, Palantir and StoneCo are two growth stocks trading at significant discounts, with Palantir down 59% and StoneCo down 82% from their respective highs. Palantir, a data software company, is capitalizing on AI opportunities and delivering cost-effective growth, making it a long-term buy. StoneCo, a leading payment processing services provider in Brazil, faced setbacks in its loan segment but continues to deliver impressive growth in its payment processing business. Both stocks present opportunities for long-term investors to build positions in emerging category leaders trading at less than $20 per share.
Warren Buffett's Berkshire Hathaway owns a small but potentially promising stake in StoneCo, a Brazil-based fintech company that has seen its stock price plummet by 80% since its peak. Despite past issues with its credit business, StoneCo is showing strong financial performance and growth prospects, particularly in Brazil's large economy. With a current valuation that appears cheap relative to its business momentum and a strong balance sheet, StoneCo is suggested as a growth stock to buy in 2024 and hold for the long term, with the potential for significant returns.
Boeing's shares rose over 4% after securing deals at the Dubai Airshow, including a major purchase by Emirates, demonstrating renewed confidence in the company. StoneCo saw a 10% increase in stock after strong Q3 revenue driven by its MSMB client segment. Harmony Gold Mining Company's shares surged 8% following a 7% increase in gold production and improved costs. Monday.com shares soared over 8% after reporting upbeat Q3 earnings and raising its revenue outlook. Tyson Foods' shares dipped 6% despite positive Q4 results due to a weak revenue outlook for 2024.
