Home Business News Two high-risk high-reward stocks for 2024

Two high-risk high-reward stocks for 2024

by Thea Coates Finance Reporter
27th Jun 24 9:09 am

More often than not, having a high-risk appetite yields massive dividends in the stock market.

The investors willing to take the most risk usually become the biggest winners when it’s all said and done. Since Nvidia’s unexpected performance in the stock market, a new niche emerged that investors ought to consider: high-risk stocks.

  • Although it is extremely risky, investing in high-risk stocks can yield massive returns for investors in 2024.
  • Skywest is an airline giant profiting from the increased demand in airline travel following lifted sanctions.
  • According to some, Gigacloud Technology is an emerging e-commerce giant with massive potential that could rival even Amazon.

There has never been a better time to invest in high-risk stocks than this year.

Many stocks that fall into this category have performed exceedingly well this year thanks to several factors, including regulatory changes, emerging trends, and economic progress. Joel Lim, financial analyst at Tradequotex.com, has identified two high-risk, high-reward stocks that investors should consider in 2024.

Skywest

Skywest is an American regional airline specializing in passenger and cargo flight delivery. It has over 200 destinations in the US alone. Some of its most frequent destinations include Los Angeles, Kansas City, Omaha, and Milwaukee.

Investors looking to benefit from the recent boom in airline travel should look no further than Skywest. The airline company has outperformed most of the competition in the past year, as evidenced by its 172% increase in share price. Financially, it is recording one of its best years yet.

According to its latest quarterly report, the company’s total revenue has increased by 16% year over year. Furthermore, the company has been involved in several promising partnerships, such as the one with United Airlines to deliver several state-of-the-art aircraft.

So far, it has delivered three out of the twenty agreed aircraft and raked in over $8 million in total stock sales for quarter one only.

Joel Lim notes, “Skywest is the best value for money investors will find, particularly in the airline industry. All indications suggest that the company could be in for one hell of a year.”

Gigacloud Technology

Famously called the next Amazon by many in the industry, Gigacloud Technology is an emerging e-commerce giant. Its marketplace caters to suppliers and resellers in the furniture and large goods industry, and it is one of the companies powering the global e-commerce landscape.

The company recently launched a new service called “branding-as-a-service,” which allows users to market their products under an existing popular brand, thereby increasing seller exposure on the platform and generating more sales. This move is part of Gigacloud Technology’s commitment to helping small businesses grow and scale.

Furthermore, the company has performed well in the market in the last few years. According to its latest quarterly report, it nearly doubled its revenue and hit a record high. Its total revenue generated this year is $251.1 million, and its gross profit is $66.5 million.

Joel Lim notes, “Gigacloud Technology might be the next big thing in the e-commerce space. Its BaaS product has a lot of upside that could surely bode well for the company.”

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