We recently published a list of 10 Firms End 2024 Stronger With Impressive Gains. In this article, we are going to take a look at where TeraWulf Inc. (NASDAQ:WULF) stands against other firms end 2024 stronger with impressive gains.
A lackluster trading persisted throughout the last day of the year, with Wall Street’s main indices ending the day mixed.
The Dow Jones Industrial Average dipped by 0.07 percent, the S&P 500 shed 0.43 percent, and the Nasdaq Composite declined by 0.90 percent. Meanwhile, NYSE Composite inched up by 0.10 percent and S&P Composite rose by 0.44 percent.
Despite the lack of catalysts to spark trading, 10 companies–predominantly in the biopharmaceuticals sector–posted impressive gains. Let’s explore the reasons behind their outstanding performance.
To come up with Monday’s top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
TeraWulf Inc. (NASDAQ:WULF)
Shares of TeraWulf Inc. (NASDAQ:WULF) rose by 6.39 percent on Wednesday to end at $5.66 apiece as investors placed bets on the company following Monday’s decline.
Year-to-date, the company’s stock price posted an astonishing 146-percent gain from the $2.3 recorded on January 2, 2024.
TeraWulf (NASDAQ:WULF) has also been one of the most widely traded companies in the stock market last year and analysts believe that the Bitcoin miner will be able to continue its strong momentum towards 2025.
Last week, the company announced that it would lease over 70 megawatts of data center infrastructure to AI and cloud provider Core42 to expand its artificial intelligence revenue as it struggles with the rising Bitcoin mining costs.
“The data center leases reflect TeraWulf’s (NASDAQ:WULF) strategic extension into AI-driven computing, complementing its profitable Bitcoin mining operations,” TeraWulf said.
Overall, WULF ranks 3rd on our list of firms end 2024 stronger with impressive gains. While we acknowledge the potential of WULF as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than WULF but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.