The Best—And Worst—Of 2024 So Far: Stocks, Crypto, AI
Why are meme cryptocurrencies outperforming Bitcoin?
Meme cryptocurrencies are outperforming Bitcoin due to their viral nature, popularity, and social media influence. They appeal to a wide audience, especially younger investors, and have gained traction through celebrity endorsements and integration into mainstream culture. Additionally, traders see higher upside potential in meme coins compared to other altcoins with more complex value propositions3.
What caused Nvidia's significant growth in 2024?
Nvidia's significant growth in 2024 was driven by the increasing demand for AI technologies, particularly generative AI, across various industries. The company's specialized data center chips played a crucial role in powering AI workloads, making them essential infrastructure for companies adopting AI. This, in turn, led to a surge in revenue for Nvidia, especially from its data center segment.
What factors led to Boeing's poor stock performance?
Boeing's poor stock performance can be attributed to several factors, including production challenges and financial losses, supply chain disruptions, geopolitical tensions, and a competitive landscape in the aerospace industry. The company's response to the 737 MAX crisis also impacted its reputation and financials5.