These are the 10 best-performing stocks that debuted in 2024
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 09 2024
0mins
Source: Business Insider
IPO Market Activity: In 2024, the IPO market saw 210 companies go public, a 36% increase from the previous year, although still significantly lower than the highs of 2020 and 2021. Despite record stock market performance, about 40 companies withdrew their IPO filings this year.
Top Performing IPOs: Notable companies like Reddit and Rubrik had successful public debuts in 2024, with some IPOs achieving remarkable returns, such as NNE with a 525% increase since its launch.
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Analyst Views on UMAC
Wall Street analysts forecast UMAC stock price to fall
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 23.220
Low
16.00
Averages
18.67
High
20.00
Current: 23.220
Low
16.00
Averages
18.67
High
20.00
About UMAC
Unusual Machines, Inc. is engaged in the commercial drone industry. The Company manufactures and sells drone components and drones across a diversified brand portfolio through business-to-business (B2B) sales and a curated retail channel. The Company also retails small, acrobatic first person-view (FPV) drones and equipment directly to consumers through the curated Rotor Riot e-commerce store. Fat Shark is engaged in designing and manufacturing ultra-low latency video goggles for drone pilots and Rotor Riot. Rotor Riot is an e-commerce marketplace, backed by a community of FPV drone pilots. Fat Shark makes drone components and Rotor Riot sells them. It also develops electric motors and propulsion systems for unmanned aerial systems (UAS). Its products include a Full Line of Drone Motors, Fat Shark HDO+ Headset, Aura Analog FPV Camera Module, Aura Video Transmitter (VTX), Brave F7 Flight Controller and Brave 55A 4-in-1 Electronic Speed Controller (ESC).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Global Military Spending Accelerates Growth of Drone-as-a-Service Market
- Market Growth Forecast: The global Drone-as-a-Service market is projected to grow from $8-10 billion in 2025 to over $35 billion by 2030, with potential to exceed $80 billion by 2035, reflecting a strong trend driven by increased defense spending.
- Rising Military Demand: Armed forces are increasingly relying on outsourced drone services for intelligence gathering, surveillance, and logistics support, leading to a surge in demand for flexible, mission-ready drone services, indicative of accelerated modernization efforts.
- ZenaTech Event Participation: ZenaTech plans to engage in six investor and defense events over the next three months, aiming to connect with institutional investors and public safety decision-makers while showcasing its growth potential in drone services and defense solutions.
- Technology Innovation Showcase: ZenaTech's drone solutions will feature ISR systems and heavy-lift cargo drones, demonstrating their application in addressing global security challenges, further solidifying their leadership position in the drone services market.
See More
Unusual Machines Soars Amid Drone Stock Rally Following AeroVironment Earnings
- Drone Industry Boost: AeroVironment's earnings report revealed a 133% year-over-year revenue increase, exceeding market expectations, which led to a 15.96% rise in Unusual Machines' stock price to $22.30, boosting its market cap to $919 million.
- Positive Market Reaction: The optimistic sentiment surrounding the drone sector resulted in Unusual Machines trading volume hitting 9.9 million shares, significantly above its average volume of 6 million shares, indicating strong investor interest and confidence in the company.
- Index Inclusion Impact: Unusual Machines was added to the Russell 2000 Index on Monday, attracting purchases from ETFs managing over $100 billion in assets, further driving up the stock price and enhancing the company's market visibility.
- CEO Strategic Focus: CEO Allan Evans emphasized the company's commitment to expanding production capacity and strengthening the supply chain to meet growing market demand, noting that inclusion in the Russell 2000 reflects their progress and increases connections with institutional investors.
See More
Unusual Machines Gains from Drone Industry Growth
- Industry Growth Signal: AeroVironment's earnings report revealed a 133% revenue increase, exceeding market expectations, which boosts the overall outlook for the drone industry and enhances Unusual Machines' prospects.
- Strong Stock Performance: Shares of Unusual Machines (NYSEMKT: UMAC) surged on Tuesday amid a rally in drone stocks, reflecting increased investor confidence in the company.
- Index Inclusion Impact: The addition of Unusual Machines to the Russell 2000 Index, which manages over $100 billion in assets, enhances its visibility among institutional investors and may drive up its stock price.
- CEO Strategic Statement: CEO Allan Evans emphasized the company's focus on expanding production capacity and strengthening the supply chain to meet growing market demand, indicating a proactive positioning within the industry.
See More
AeroVironment Surges 21% After Beating Q4 Estimates
- Strong Earnings Report: AeroVironment reported a revenue of $642 million, more than doubling from last year and exceeding the market expectation of $402 million, indicating robust growth potential in the drone sector.
- Backlog Surge: The company's funded backlog increased by 65% to $1.2 billion year-over-year, suggesting strong future demand that will support ongoing production expansion and market share growth.
- Government Funding Support: The U.S. Department of Defense is requesting a record $75 billion for drones in 2027, reflecting the government's emphasis on drone technology, which will benefit AeroVironment and further solidify its market position.
- Acquisition-Driven Growth: AeroVironment's acquisitions of BlueHalo and Empirical Systems Aerospace contributed an additional $282.3 million in revenue for the current quarter, enhancing its competitiveness in high-energy laser systems and aligning with its future growth strategy.
See More
AeroVironment Revenue Doubles Amid Surge in Military Demand
- Significant Revenue Growth: AeroVironment's revenue more than doubled from $321 million last year to $642 million, indicating strong demand and growth potential in the drone market, which is expected to further drive stock price increases.
- Substantial Backlog Increase: The company's funded backlog surged 65% to $1.2 billion, reflecting the urgent demand from the U.S. government for modernized military equipment, thereby enhancing the company's market position.
- Government Budget Support: The U.S. Department of Defense is requesting a record $75 billion for drones in its 2027 budget, providing AeroVironment with significant market opportunities, especially amid escalating geopolitical tensions.
- Strategic Acquisition Contributions: AeroVironment's acquisitions of BlueHalo and Empirical Systems Aerospace added $282.3 million in revenue for the current quarter, further solidifying its market leadership in high-energy laser systems.
See More
Defiance ETFs Launches UMAC Leveraged ETF for Active Traders
- New ETF Launch: Defiance ETFs has announced the launch of the Defiance Daily Target 2X Long UMAC ETF (UMAL), aimed at providing active traders with a new investment tool designed to amplify exposure to innovative growth companies, which is expected to attract interest in Unusual Machines, Inc. (UMAC).
- Clear Investment Objective: The fund seeks to achieve 200% of the daily percentage change in the share price of Unusual Machines, allowing investors to express tactical bullish views on the company within a transparent exchange-traded fund framework, thus providing new opportunities for short-term traders.
- Risk Advisory: The fund is not suitable for all investors, particularly those who do not intend to actively monitor their portfolios, as its leveraged nature could lead to a total loss of principal within a single trading day, emphasizing the importance of understanding and managing risks.
- Market Environment Consideration: UMAC, as a commercial drone company, faces challenges related to technological complexity and capital intensity, and investors should be aware of market volatility and the risks associated with the company potentially failing to meet performance expectations, which could adversely affect the fund's performance.
See More
Global Military Spending Accelerates Growth of Drone-as-a-Service Market
- Market Growth Forecast: The global Drone-as-a-Service market is projected to grow from $8-10 billion in 2025 to over $35 billion by 2030, with potential to exceed $80 billion by 2035, reflecting a strong trend driven by increased defense spending.
- Rising Military Demand: Armed forces are increasingly relying on outsourced drone services for intelligence gathering, surveillance, and logistics support, leading to a surge in demand for flexible, mission-ready drone services, indicative of accelerated modernization efforts.
- ZenaTech Event Participation: ZenaTech plans to engage in six investor and defense events over the next three months, aiming to connect with institutional investors and public safety decision-makers while showcasing its growth potential in drone services and defense solutions.
- Technology Innovation Showcase: ZenaTech's drone solutions will feature ISR systems and heavy-lift cargo drones, demonstrating their application in addressing global security challenges, further solidifying their leadership position in the drone services market.
See More
Unusual Machines Soars Amid Drone Stock Rally Following AeroVironment Earnings
- Drone Industry Boost: AeroVironment's earnings report revealed a 133% year-over-year revenue increase, exceeding market expectations, which led to a 15.96% rise in Unusual Machines' stock price to $22.30, boosting its market cap to $919 million.
- Positive Market Reaction: The optimistic sentiment surrounding the drone sector resulted in Unusual Machines trading volume hitting 9.9 million shares, significantly above its average volume of 6 million shares, indicating strong investor interest and confidence in the company.
- Index Inclusion Impact: Unusual Machines was added to the Russell 2000 Index on Monday, attracting purchases from ETFs managing over $100 billion in assets, further driving up the stock price and enhancing the company's market visibility.
- CEO Strategic Focus: CEO Allan Evans emphasized the company's commitment to expanding production capacity and strengthening the supply chain to meet growing market demand, noting that inclusion in the Russell 2000 reflects their progress and increases connections with institutional investors.
See More
Unusual Machines Gains from Drone Industry Growth
- Industry Growth Signal: AeroVironment's earnings report revealed a 133% revenue increase, exceeding market expectations, which boosts the overall outlook for the drone industry and enhances Unusual Machines' prospects.
- Strong Stock Performance: Shares of Unusual Machines (NYSEMKT: UMAC) surged on Tuesday amid a rally in drone stocks, reflecting increased investor confidence in the company.
- Index Inclusion Impact: The addition of Unusual Machines to the Russell 2000 Index, which manages over $100 billion in assets, enhances its visibility among institutional investors and may drive up its stock price.
- CEO Strategic Statement: CEO Allan Evans emphasized the company's focus on expanding production capacity and strengthening the supply chain to meet growing market demand, indicating a proactive positioning within the industry.
See More
AeroVironment Surges 21% After Beating Q4 Estimates
- Strong Earnings Report: AeroVironment reported a revenue of $642 million, more than doubling from last year and exceeding the market expectation of $402 million, indicating robust growth potential in the drone sector.
- Backlog Surge: The company's funded backlog increased by 65% to $1.2 billion year-over-year, suggesting strong future demand that will support ongoing production expansion and market share growth.
- Government Funding Support: The U.S. Department of Defense is requesting a record $75 billion for drones in 2027, reflecting the government's emphasis on drone technology, which will benefit AeroVironment and further solidify its market position.
- Acquisition-Driven Growth: AeroVironment's acquisitions of BlueHalo and Empirical Systems Aerospace contributed an additional $282.3 million in revenue for the current quarter, enhancing its competitiveness in high-energy laser systems and aligning with its future growth strategy.
See More
AeroVironment Revenue Doubles Amid Surge in Military Demand
- Significant Revenue Growth: AeroVironment's revenue more than doubled from $321 million last year to $642 million, indicating strong demand and growth potential in the drone market, which is expected to further drive stock price increases.
- Substantial Backlog Increase: The company's funded backlog surged 65% to $1.2 billion, reflecting the urgent demand from the U.S. government for modernized military equipment, thereby enhancing the company's market position.
- Government Budget Support: The U.S. Department of Defense is requesting a record $75 billion for drones in its 2027 budget, providing AeroVironment with significant market opportunities, especially amid escalating geopolitical tensions.
- Strategic Acquisition Contributions: AeroVironment's acquisitions of BlueHalo and Empirical Systems Aerospace added $282.3 million in revenue for the current quarter, further solidifying its market leadership in high-energy laser systems.
See More
Defiance ETFs Launches UMAC Leveraged ETF for Active Traders
- New ETF Launch: Defiance ETFs has announced the launch of the Defiance Daily Target 2X Long UMAC ETF (UMAL), aimed at providing active traders with a new investment tool designed to amplify exposure to innovative growth companies, which is expected to attract interest in Unusual Machines, Inc. (UMAC).
- Clear Investment Objective: The fund seeks to achieve 200% of the daily percentage change in the share price of Unusual Machines, allowing investors to express tactical bullish views on the company within a transparent exchange-traded fund framework, thus providing new opportunities for short-term traders.
- Risk Advisory: The fund is not suitable for all investors, particularly those who do not intend to actively monitor their portfolios, as its leveraged nature could lead to a total loss of principal within a single trading day, emphasizing the importance of understanding and managing risks.
- Market Environment Consideration: UMAC, as a commercial drone company, faces challenges related to technological complexity and capital intensity, and investors should be aware of market volatility and the risks associated with the company potentially failing to meet performance expectations, which could adversely affect the fund's performance.
See More
