The broad markets pulled back to start out the week, but this has come after what has been an incredible past quarter. Most of the run-up in the markets has been a result of big tech, and some of the winners have been largely outsized.
The S&P 500 is only about 14% higher year to date, and 205 of its components have not posted gains on the year. On the other hand, a few S&P 500 members have more than doubled this year.
Even with the massive gains for this small group of stocks, can they keep up the pace into 2021 as the markets are continuing to push higher?
Here, 24/7 Wall St. looks at five of the biggest winners in the S&P 500 so far in 2020. We have included some analysis, a recent trading history on each stock and what analysts are saying about it.
Tesla Inc. (NASDAQ: TSLA) only just joined the S&P 500, and it literally has been the vehicle for more traders to make massive sums of cash this year. The stock is up 731% year to date. With the electric vehicle (EV) market continuing to grow and more players getting into the arena, Tesla could very well keep up the pace in the coming year.
Tesla stock recently hit a 52-week high of $695.00, and it is trading much higher than the 52-week low of $70.10. The consensus price target for the stock is $396.30.
This company operates an e-commerce platform that serves a somewhat niche market. Etsy Inc. (NASDAQ: ETSY) offers more eccentric and artisanal goods on its marketplace that are much more customized than almost anything from Walmart or Amazon. The stock is up roughly 331% year to date. With the rising tide of e-commerce, it seems that this stock can continue on this path.
Etsy stock has traded mostly between $185 and $190 in recent days, in a 52-week range of $29.95 to $193.00. Analysts have a consensus price target of $163.29.