Finiz analysed Russell 2000 small-cap stocks with over $1 million in trading volume and a Buy or better recommendation.
Four breakout stocks delivered staggering year-to-date returns: D-Wave Quantum Inc QBTS, Innodata Inc. INOD, Nano Nuclear Energy Inc NNE, and Intuitive Machines Inc LUNR.
Each company represents a cutting-edge theme reshaping industries: quantum computing, AI, nuclear energy, and space exploration. Here’s a closer look:
D-Wave Quantum
Quantum computing isn't just sci-fi anymore. D-Wave Quantum, a pioneer in quantum systems, has skyrocketed an eye-popping 467.07% YTD, leaving both the Russell 2000 (up 18.88%) and S&P 500 (27.62%) in the dust.
Riding on the growing demand for quantum AI applications and its innovative systems, D-Wave has captured Wall Street’s imagination. With a solid pipeline of software services tailored for next-gen computing needs, the company has positioned itself as the go-to player in this nascent sector.
Read Also: Small Caps Set To ‘Lead Their Large Cap Brothers’ For Rest Of 2024, Says Market Strategist
Innodata
AI fever shows no signs of cooling, and Innodata is riding the wave with a 460.08% YTD surge. As a digital solutions provider, Innodata is capitalizing on the generative AI boom by expanding its enterprise services and striking Big Tech partnerships.
Its GenAI consulting and digital offerings enable businesses to seamlessly adopt AI-powered technologies. With demand for AI solutions growing across industries, Innodata's sharp focus on innovation has turned it into a darling of the small-cap universe.
Nano Nuclear Energy
Amid a nuclear energy renaissance, Nano Nuclear Energy has exploded onto the scene with a 386.51% YTD performance.
The company's mission to revolutionize power generation with compact nuclear solutions and fuel transportation systems has resonated with investors seeking sustainable energy plays. As the world leans toward low-carbon alternatives, Nano's forward-looking approach to nuclear energy makes it a compelling story of innovation in the industrial sector.
Intuitive Machines
2024 marked a historic lunar landing for Intuitive Machines with its Nova-C lunar lander, making it the first U.S. spacecraft to touch the moon since Apollo 17.
This achievement, paired with long-term NASA contracts, propelled the stock to a 442.80% YTD climb. With ambitions to dominate lunar exploration and infrastructure, Intuitive Machines is carving out a niche in the high-stakes space race, cementing its position as a key player in aerospace innovation.
Big Themes, Bigger Returns
While the Russell 2000 index has delivered respectable gains, these four stocks are redefining what's possible in the small-cap space.
Representing transformative technologies, they've not only captivated investors but also underscored the potential for innovation-driven growth. Whether it's quantum leaps, AI revolutions, nuclear breakthroughs, or lunar milestones, these themes are shaping the future—and investors are taking notice.
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