From Dow Jones & Company:



The best-performing stocks of 2023 so far are the “Magnificent Seven,” which include companies such as Apple, Microsoft, Google, Amazon, Tesla, and Meta Platforms. However, the top two best-performing stocks are Soleno Therapeutics and online used-car dealer Carvana. Soleno Therapeutics’ stock rose over 1,900% after announcing positive results for its diazoxide choline extended-release tablets designed to treat Prader-Willi syndrome, while Carvana’s stock skyrocketed 1,030% after staging a turnaround for the ages.

Other notable outperformers in 2023 include buy-now-pay-later lender Affirm Holdings, biotech and biopharma companies, as well as crypto-related entities. The S&P 500 and the Dow Jones Industrial Average are hovering at or near record highs, on the heels of policy moves by the Federal Reserve implying that the central bank is satisfied with the outcome of its quest to vanquish surging inflation. However, it’s uncertain what these performances mean for next year, as momentum can quickly turn and in-favor sectors can lose ground to new high-flying stock darlings.

This highlights the success of certain stocks in 2023, such as Soleno Therapeutics and Carvana, and the larger market trends relating to momentum and the high-flying stock darlings. Market players should consider the uncertainty of these performances and be cautious in their trading strategies.



Read more: One of the best-performing stocks of 2023 averted disaster to surge 1,000%