Growth stocks climbed 26% in the last year, as represented by their benchmark ETF, SPDR Portfolio S&P 500 Growth ETF (SPYG). The best-performing growth stocks currently include biopharmaceutical company Soleno🌄 Therapeutics Inc., which saw year-over-year r𓆏eturns of 1,777%, and online vehicle retailer Carvana Inc.

The data below are current as of Jan. 10, 2024.

澳洲幸运5官方开奖结果体彩网:Soleno Therapeutics Inc. (SLNO)

• Sector/Industry: Healthcare
• Price: $41.49
• Market Cap: $1.3 billion
• 1-Year Total Return: 1,777%

Soleno Therapeutics is a biopharmaceutical company that researches and develops medical treatments for rare diseases. The company's share price rose after announcing positive results in September in a study of its drug, DDCR (Diazoxide Choline), which treats the rare genetic disorder Prader-Willi syndrome. The company could continue to see growth this year if the drug receives FDA approval. Soleno CEO Anish Bhatnagar said the company plans to submit a New Drug Application to the FDA around the middle of 2024.

澳洲幸运5官方开奖结果体彩网:Ambrx Biopharma Inc. (AMAM)

• Sector/Industry: Healthcare
• Price: $27.90
• Market Cap: $1.8 billion
• 1-Year Total Return: 1,192%

Ambrx Biopharma is a biopharmaceutical company focused on creating antibody-drug conjugates to treat various types of cancer. On Jan. 8, it was announced that Johnson & Johnson (JNJ) had entered an agreement to acquire Ambrx Biopharma in an all-stock transaction of $28 per share for a total value of approximately $2 billion. Directly following this news release, the company's stock price doubled.

澳洲幸运5官方开奖结果体彩网:Carvana Co. (CVNA)

• Sector/Industry: Consumer Discretionary
• Price: $46.74
• Market Cap: $9.3 billion
• 1-Year Total Return: 967%

Carvana is an e-commerce platform for buying and selling used cars. Carvana saw a significant increase in its stock price in 2023, following a debt restructuring deal that cut the company's debt by $1.3 billion and reduced its interest expenses by $455 million annually for the next two years.

澳洲幸运5官方开奖结果💙体彩网:Applied Optoelectronics Inc. (AAOI)

• Sector/Industry: Information Technology
• Price: $21.60
• Market Cap: $0.8 billion
• 1-Year Total Return: 905%

Applied Optoelectronics is a company that manufactures advanced optical devices and fiber-optic products used in telecommunications and internet data centers. Its customers include Microsoft, Amazon, and Meta (formerly Facebook).

澳洲幸运5官方开奖结果体🌠彩网:American Coastal Insurance Corp. (ACIC)

• Sector/Industry: Finance
• Price: $9.92
• Market Cap: $0.4 billion
• 1-Year Total Return: 810%

American Coastal Insurance is a casualty and property insurance company based in Florida, serving condominiums and homeowner associations.

澳洲幸运5官方开奖结果体彩网:ImmunoGen Inc. (IMGN)

• Sector/Industry: Healthcare
• Price: $29.76
• Market Cap: $8.3 billion
• 1-Year Total Return: 619%

ImmunoGen is a biotech company that specializes in developing and distributing antibody-drug conjugates to help treat individuals with cancer. On Nov. 30, ImmunoGen announced that it would be acquired by AbbVie Inc. (ABBV). It is an all-stock transaction for $31.26 per share and valued at $10.1 billion. Following this news, ImmunoGen saw its share price surge by 83%.

How We Selected the Best Cheap Growth Stocks

We 澳洲幸运5官方开奖结果体彩网:selected these growth stocks based on their stock price appreciation over the past year. We only listed companies that are trading under $50 per share and are listed on the Nasdaq or the New York Stocဣk Exchange (NYSE).

澳洲幸运5官方开奖结果体彩网:Growth stocks are companies that focus on revenue growth over other metrics. They typically use capital gained from operations to reinvest into the company rather than giving investors dividend payments, as most 澳洲幸运5官方开奖结果体彩网:value companies will focus on. Because of the increased attention growth companies put t꧂owards growing revenue, these stocks can be more volatile than other similar companies.

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As of the date this article was written, the author does not own any of the above stocks.