Best Performing Stocks to Invest in

Invest in the best perfoming stocks with Robinhood or Interactive Brokers.

The stock market has been extremely turbulent over the last few years, especially in 2022, as soaring inflation and recession risks caused worry among investors.

But market sentiment has slowly improved in 2023, and although recession risks still loom, certain stocks have performed well and are expected to climb higher. 

Investors can take advantage of some of the best-performing stocks available.

10 Best Performing Stocks

An abundance of stocks to invest in can make investing seem overwhelming. The list below showcases the top 10 best-performing stocks.

1. Applied Digital Corp. (NASDAQ: APLD) 

Applied Digital designs and develops next-generation data centers, providing infrastructure to the high-performance computing industry and blockchain infrastructure. Its stock has rallied 373% so far in 2023 as it has broadened its business offerings to serve more customers across the computing industry.

The firm recently opened its second data center facility in North Dakota as it continues to expand in a rapidly growing market. Its revenue rose to $14.1 million in Q3 from just $1 million in Q3 2022, with EBITDA of $0.9 million.

2. Genelux Corp. (NASDAQ: GNLX)

Genelux Corporation is a clinical-stage biopharmaceutical firm that focuses on developing effective immunotherapies for patients suffering from tumors. The firm was founded in 2001, although went public in 2023. 

Its shares have since jumped over 480%, with a strong performance over the last month following positive phase 2 data in its lead therapy. 

The stock has performed well so far since its IPO in January. However, its shares are fairly volatile because of trial news and the results for key therapies. This can leave investors at risk when investing in Genelux.

3. Biomea Fusion Inc. (NASDAQ: BMEA) 

Another pharmaceutical company breaks the top 10 best-performing stocks with Biomea Fusion. The company aims to revolutionize therapies to treat serious life-threatening diseases.

The stock has grown significantly this year, with a strong performance in March following encouraging mid-stage trial results for its type 2 diabetes candidate, which doubled its share price.

However, the group’s first-quarter results saw Biomea report a net loss of $29.1 million, compared to a net loss of $16.4 million in the same period last year. Much of this was due to Biomea’s research and development expenses climbing to $24.4 million as the group continues to invest heavily in its therapies.

4. Symbotic Inc. (NASDAQ: SYM) 

Artificial intelligence (AI) has got everyone talking over the last few months, which is why Symbotic has made the list. Symbotic builds and operates automated warehouse systems for clients using AI technology in its software.

Its shares have reached an all-time high and continue to climb each day. The firm is reinventing warehouse automation and increasing efficiency, speed and flexibility for its clients.

The company’s revenue grew 177% in Q2 to $266.9 million, and investors have been convinced by its revised long-term strategy to win new customers, grow geographically and add new verticals to its offering.

5. Green Brick Partners Inc. (NYSE: GRBK)

Green Brick Partners is one of the fastest-growing homebuilders and land developers. Green Brick Partners encompasses eight homebuilder brands across four states, including Normandy Homes and Centre Living Home.

The group delivered 761 new homes in Q1, a record for any Q1 for the firm. The home market is expected to face difficulties as higher interest rates impact demand for new homes. However, Green Brick’s revenue grew 14.8%, and its shares have gained 120% in 2023, making it one of the best-performing stocks so far this year.

6. NVIDIA Corp. (NASDAQ: NVDA) 

NVIDIA has been extremely popular among investors and is one of the best performers over the last few years. Its shares have reached record highs as AI technology continues to rapidly advance.

Its shares have already soared 187% YTD, and it achieved a market cap of over $1 trillion. Strong demand, an improving market and its growing revenue make it a strong pick for investors.

7. ImmunoGen Inc. (NASDAQ: IMGN) 

ImmunoGen is a biotech company that uses antibody-drug conjugates for the treatment of cancer. The firm’s shares soared in May after ImmunoGen reported positive phase 3 data for Elahere. 

The group generated $29.5 million in revenue in Q1, and stronger data results could propel the stock higher in the future.

8. Opera (NASDAQ: OPRA)

Opera is a multi-platform web browser that allows consumers to browse, chat and surf the web with different user interfaces and other features. 

The stock has gained over 200% YTD as the company announced the initiation of a dividend program, with the first payment of $0.40 per share.

9. Rambus Inc. (NASDAQ: RMBS) 

Rambus is an American tech firm that designs, develops and licenses chip interface technology. Much of its share price growth has been fuelled by AI, but its new high-bandwidth memory system and recent strong results have also showcased why Rambus is one of the best-performing stocks.

The firm earned 20 cents per share in Q1, increasing 11% from a year ago, with revenue up 15% to $113.8 million.

10. Preformed Line Products Co. (NASDAQ: PLPC) 

Preformed Line Products is a designer, manufacturer and supplier of high-quality transmission and distribution hardware. 

Its shares have rallied over 100% this year to record highs driven by strong financials. Its full-year results show a fourth consecutive quarter of record annual net sales, increasing 23% from the year prior. The firm also achieved a record net income of $54.4 million.

How to Choose the Right Stocks to Include in Your Portfolio

It can be difficult to decide what stocks are right for your portfolio. It is important to find the right balance. Setting out goals and ideas can help you choose which stocks to add.

Set Financial Goals

Setting financial goals helps determine what you want your portfolio to achieve. The goal of investing is to make money, but this can be achieved in numerous ways.

Different stocks may fit your narrative. Whether preserving capital, investing in low-risk stocks, taking on more risk to achieve rapid growth or just earning a passive income through dividends, your financial goals should align with your portfolio.

Researching the Market 

Research is one of the most important factors in deciding which stocks are best for you. Knowledge of the market can prevent you from losing or blowing your account. 

It is essential to have a reason for investing in a particular stock, and this requires research. Reading articles and financial reports, measuring the downside risk and reading blogs or opinions can open your mind and help you weigh the pros and cons before jumping straight into the deep end.

This practice can limit your risk, grow your profits and reduce doubt, as you have covered all bases.

Analyze a Company's Financial Statements

A firm's financials are a key indicator of the health of a business. Financial statements help investors answer a series of questions, such as whether the company sales are growing, whether they are making a profit and if it holds a lot of debt.

These questions, as well as others, can help you decide if a business has room to grow or if it is in a difficult position. In addition, investors can also compare a company’s financials to a competitor's to see if a company is in a strong financial state compared to the rest of the market.

Look at Historical Performance 

Although not definitive and not an infallible predictor of future success, historical performance provides strong insight into how a stock has performed in the past and reacted to previous market variables. Analyzing historical data and a stock's performance during downturns or major economic cycles is essential.

Diversifying Your Portfolio

Diversifying your portfolio protects your investments and reduces overall risk. Relying on one type of investment opens an investor up to risk on both sides, as you can miss out on different investment opportunities and increase your chances of experiencing larger losses.

Therefore, it is vital to diversify your portfolio by investing in several markets, stocks or ETFs.

Where to Buy the Best Performing Stocks

If you are looking to invest in some of the best-performing stocks available, you would open an account with one of the best online brokers, which you can find below.

Building the Best Portfolio

Every trader hopes to maximize their returns, but profits can be limited in a difficult market environment. But that does not mean profits cannot be achieved, and investing in the best stocks is crucial over the long term.

Therefore, regardless of the market condition, creating and adhering to your rules will help position you on the right side of the market and lower your risk.

Frequently Asked Questions 

Best Performing Stocks Methodology

The best performers above were picked using a mix of the largest percentage gains so far this year, along with notable names that have made significant moves.