Monday's Hottest Stocks: Palantir, Enphase, And Microstrategy
Date
12/23/2024 10:10:19 AM
(MENAFN- Baystreet)
The nasdaq 100's (QQQ) inclusion of Palantir (PLTR) and Microstrategy (MSTR) in the last week sets these two firms as today's two hot stocks.
Microstrategy, which owns around 440,000 bitcoins as of Dec. 16, 2024, effectively makes this technology firm a BTC holding. Nasdaq's inclusion reaffirms the importance of BTC in the money system. As such, investors who want to hold a pure software firm should look elsewhere. Salesforce (CRM), C3 (AI), ServiceNow (NOW), Shopify (SHOP), or Applovin (APP) are some of the companies to consider over Microstrategy.
Palantir, which traded near an all-time high, is another stock to hold. Last Wednesday, the firm announced a partnership extension with the U.S. Army. It will deliver the Army Vantage capability supporting the“Army Data Platform” (ADP). The contract is worth $400.7 million over four years.
In the solar energy sector, Enphase (ENPH) gained 8.59% last Friday, Dec. 20, 2024. On Dec. 17, the firm started shipments of the IQ Battery SP for customers in India. This product delivers reliable, uninterrupted backup power for homes. ENPH stock rallied because bears held too big a short position, at a 14.17% short interest. In addition, bulls have hope that this company will pivot its growth away from solar toward the battery market.
Tesla currently dominates the solar market with installations of the Powerwall 3.
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