Analyzing Market Performance: Identifying Potential Stocks
The financial market is always a dynamic sphere where constant changes are the norm rather than the exception. Investors and stock market enthusiasts are always on the lookout for stocks that have the potential to make them rich overnight. This article recapitulates the top ten performing stocks for August as given on godzillanewz.com. In particular, the focus will be on two stocks, termed ‘Magnificent,’ that are worth keeping an eye on.
Firstly, it is crucial to mention that the stocks are selected based on their performance over the prior month. One consistent performer that has managed to secure a position in the top ten is the healthcare firm Moderna. The company’s stock saw a rise of 42.6% in August, riding on the back of successful trials and the worldwide roll-out of its COVID-19 vaccine.
In the technology sector, Tesla continues its upward trend, backed by strong sales and overall growth in the electric vehicle industry. The Elon Musk-led company saw a surge of 12.6% in its stocks this August, bolstering its position in the market.
Among the other key performers worth mentioning were salesforce.com, up by 15.3%, and NVIDIA, with a rise of 11%. The top ten list also featured Adobe Systems, which has seen a steady growth rate of 7.2%.
However, the stars of the article are two stocks dubbed as the ‘Magnificent 7’ that are said to be the ones to watch: DocuSign and Square Inc.
DocuSign, a digital e-signature solutions provider, has been garnering attention as businesses worldwide shift towards digital operations in the wake of COVID-19. The increased demand for its services has seen its stocks soar high, making it an enticing prospect for potential investors. DocuSign showed an impressive performance, rising to 23.7% over the month.
On the other hand, Square Inc., a mobile payment company, has also seen a tremendous upswing in its fortunes. The company’s stocks jumped 26.2% in August, fueled by a surge in digital payments during the pandemic. The boom in the e-commerce industry and the need for contactless transactions have propelled Square Inc. into one of the top gainers in August.
These two ‘Magnificent 7’ stocks have displayed significant potential. Their strong performance in August, coupled with the current digital wave, makes them worthwhile options for those looking to invest.
Furthermore, the top ten charts also revealed the ascent of other under-the-radar stocks like ServiceNow and Qorvo, both having a rise of 9.1% and 8.6% respectively.
In conclusion, the market performance in August has been dictated by various factors influencing the rise and fall of stocks. However, the consistent growth shown by specific stocks, particularly DocuSign and Square Inc., underlines the changing face of business and technology, warranting keen observation
