From Nasdaq, Inc.: 2024-06-26 15:04:55

Technology stocks are on the rise, attracting investors and analysts with options like cybersecurity, cryptocurrencies, social media, and AI-related companies. Tech stocks have seen significant gains and are expected to continue rallying. Three top picks for investment include CrowdStrike Holdings, Robinhood Markets, and Reddit.

CrowdStrike Holdings (CRWD) has been a strong performer, with shares rising steadily thanks to impressive financial results and strong growth. The stock recently joined the S&P 500 index, and analysts rate it as a strong buy. Revenue for Q1 beat estimates, with a 34% increase from the previous year.

Robinhood Markets (HOOD) has gained 80% in 2024, driven by retail investors returning to the market and increased cryptocurrency trading. The acquisition of Bitstamp for $200 million expands its cryptocurrency business, making it a competitor to major exchanges like Binance and Coinbase Global. Q1 financial results were record-breaking, fueled by crypto trading.

Reddit (RDDT) announced a partnership with AI start-up OpenAI, enhancing its platform with AI tools and advertising opportunities. The company reported impressive earnings, surpassing revenue forecasts and increasing advertising revenue by nearly 40%. RDDT stock has risen 33% since its IPO in March, attracting investors with its growth potential.

Read more at Nasdaq: The 3 Smartest Tech Stocks to Buy With $5,000 Right Now