Domino’s Pizza and 5 Other Rising Stocks To Watch in March 2024
Despite many stocks having underperformed, the S&P 500 experienced an impressive 24% surge last year. And then, just last month, it hit another record high thanks to higher-than-expected earnings.
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While there’s no guarantee that the stock market will continue to perform at such a record pace, there are several stocks worth keeping an eye on in the coming months. And this doesn’t just include the big names like Amazon or Microsoft. It includes a few smaller — but still well-known — stocks like Domino’s Pizza.
Here are some rising stocks to watch in March.
Domino’s Pizza (DPZ)
The stock market is always changing, but Domino’s Pizza (DPZ) has had a fairly decent run of late. Shares of the stock have risen by more than 6% in the past month. It was valued at $421.95 in early February, whereas now it’s reached nearly $450 a share.
Roche Holdings AG (RHHBY)
This Swiss healthcare giant has been performing reasonably well over the past five years, and it continues to do so on a shorter-term basis as well. The company has seen an all-time growth of more than 155%. In the past month, shares have risen by over 3%.
Currently, shares go for about $33.
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Quest Diagnostics, Inc. (DGX)
“As we’ve seen the so-called ‘magnificent seven’ stocks and certain other mega-cap stocks performing extremely well over the past several months, it’s natural to try to seek out the next set of winners. One method investors can try is to search for stocks that might perform well based on a related theme that is in favor with support that looks to be durable,” said Don Montanaro, president of Firstrade.
“For example, the big pharma stocks with leading or impending drugs in the booming weight loss category have had great runs recently. If you believe this is a durable theme, you might ask yourself what other companies might benefit from this trend. One that comes to mind is Quest Diagnostics (DGX).”
Quest Diagnostics has seen an all-time increase of more than 3,318%. Shares currently go for about $127. The stock has also risen over the past five years by nearly 51%.
Abercrombie & Fitch Co (ANF)
“Another interesting [stock to watch] is Abercrombie & Fitch Co. (ANF), which has been catching the attention of investors with its recent performance,” said Scott DePeralta, the principal consultant at Scott DePeralta Consulting, LLC.
Abercrombie & Fitch has risen by just over 398% in the past five years. Since the start of 2024, it’s gone up by more than 40%. It’s currently worth about $127.
Marathon Digital Holdings, Inc. (MARA)
Shares of MARA have risen by over 783% in the past five years. They’ve also gone up by around 26% in the past month. Currently, a single share only costs about $22, so this could be a stock worth considering.
Super Micro Computer, Inc. (SMCI)
“One rising stock that stands out this month is Super Micro Computer Inc (SMCI), which has seen an impressive year-over-year performance increase of 786.60%,” said Mark Stewart, an in-house certified public accountant for Step By Step Business. “The company’s significant growth indicates its strong position in the tech industry, particularly in the server market,… This stock could be a fascinating option for investors looking for high growth potential in the tech sector.”
SMCI shares are currently worth about $1,144.
Rising Stocks: What To Consider
The stock market can be volatile, so it’s important to carefully research different companies before investing your money into anything. Even if a stock seems to be performing well right now, that doesn’t necessarily mean that’ll always be the case.
“I suggest focusing on emerging stocks with growth potential and monitoring sectors with upward trends. Signs of a rising stock include positive earnings, market expansion, and innovative products/services,” said Adam Garcia, an investing expert at The Stock Dork. “Keep an eye on industry news and consumer behavior for investment insights. While lesser-known stocks like Domino’s Pizza may hold potential, thorough research is crucial before investing.”
If you’re looking for ways to tell if a stock is on the rise, carefully watch what’s going on in the market. In particular, keep an eye out for any increases in insider buying.
“Insider buying occurs when a company’s executives, directors, or other insiders purchase shares of their own company’s stock. This activity is closely monitored because insiders deeply understand their company’s operations, future prospects, and the intrinsic value of their stock,” Stewart said.
“When insiders invest their own money into the company, it can signal their confidence in the company’s future performance,” he continued. “This insider confidence might take time to be evident through traditional financial metrics or analyst reports, making it a valuable indicator for investors seeking potential growth opportunities.”
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This article originally appeared on GOBankingRates.com: Domino’s Pizza and 5 Other Rising Stocks To Watch in March 2024
