These 2 Stocks Had Higher Returns Than Nvidia in 2024 — Should You Invest Now?

David Nadelle

Wed, Apr 2, 2025, 9:02 AM 5 min read

The past two years have been good to U.S. stock market investors. Although down slightly from 2023, the S&P 500 ended 2024 up 23.3%, and the Nasdaq gained 28.6%, according to Charles Schwab. And the Russell 2000 small cap index rose 10%.

The so-called “Magnificent 7” stocks — Alphabet (GOOGL), Amazon (AMZN), Apple (AAPL), Meta (META), Microsoft (MSFT), Nvidia (NVDA) and Tesla (TSLA) — had impressive but varied returns in 2024. Not surprisingly, Nvidia, one of the largest companies in the world and the hottest stock of 2024, topped the group easily with a 171.2% return last year, but two other stocks fared better.

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The single biggest winner in the S&P was Palantir Technologies (PLTR), with a whopping 340.5% gain for the year, followed by Vistra (VST) at 261.3%, per CNBC. GOBankingRates asked Edward Corona, veteran stock trader and publisher of The Options Oracle, and David Capablanca, the host of “The Friendly Bear” podcast and the founder of Conscious Trading Academy, whether it would be worthwhile to invest in either Palantir or Vistra now, and whether Nvidia is still a sound investment option.

What a difference a year makes. Less than a year ago, you could have snapped up Palantir stock for around $25 a share. This week, it’s been hovering in the mid-$80s range. Headquartered in Denver, Palantir specializes in security and data-analysis software used by government agencies and private corporations.

“PLTR had a massive run starting last year, but the momentum has cooled off,” Corona said. “The stock is in a neutral trend but has resistance around $94.33. It’s pulling back, so if I were trading, I’d be cautious unless it reclaims momentum above that resistance. IV (implied volatility) is high, making options premiums juicy for selling strategies.”

“Palantir and Vistra are coming off their biggest decline ever after an exponential run last year,” said a cautious Capablanca. “That surge was driven by a bull market, but we’re no longer in that environment — we’re in what could be called a ‘terrorist market.’ This isn’t something that will just continue growing indefinitely. History doesn’t repeat, but it rhymes, and last year was an outlier for these stocks.”

However, there are no real long-term growth worries with Palantir. Having government contracts in a seemingly limitless tech sector, Palantir stock will likely bounce back, but it may take some time. “It’s still a solid AI/data play, but it’s priced for growth,” Corona said. “A pullback to the $70s could be a better entry for long-term investors looking for a value opportunity.”