Shares of electric vehicle (EV) maker Tesla (NASDAQ:TSLA) have received all the hype and attention lately because the stock has been on a torrid run, wherein shares have more than tripled over the past six months. That’s a jaw-dropping gain, and many investors can’t believe it. After all, over that same stretch, the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite are all up less than 20%.
But — and not to take anything away from this record rally in Tesla sock, which has been very impressive — such huge rallies in growth stocks happen quite often.
Shares of ecommerce solutions provider Shopify (NYSE:SHOP) nearly tripled from $120 to $360 during the first half of 2019. Also in the first half of 2019, streaming device maker Roku (NASDAQ:ROKU) saw its stock more than triple, as did social media company Snap (NYSE:SNAP). Shares of programmatic advertising leader The Trade Desk (NASDAQ:TTD) saw its stock triple from $50 to $150 during a six month stretch in 2018. MongoDB (NASDAQ:MDB), Beyond Meat (NASDAQ:BYND), Canopy Growth (NYSE:CGC) and Advanced Micro Devices (NASDAQ:AMD) have all had stretches over the past few years where they’ve tripled in a six month span.
In other words, while the record rally in Tesla stock is impressive, it’s not unprecedented. There are a handful of growth stocks that have done it before. And, there are handful of growth stocks that have been just as hot as Tesla over the past six months.
Without further ado, let’s take a deeper look at those red-hot growth stocks.
Growth Stocks That Are as Hot as Tesla: Hovnanian Enterprises (HOV)
Gain in past 6 months: 325%
At the top of this list, we have a big surprise. Homebuilders aren’t normally considered growth companies. Nor are homebuilder stocks often big gainers. But, shares of U.S.