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Market Growth Highlights
The S&P 500 index is up 14% this year, while the Nasdaq-100, which focuses on growth stocks, has risen 17%. Shopify (NASDAQ: SHOP) reported a revenue growth of 31% year-over-year in Q2, with operating income increasing by 21%, leading to a 9% margin. The company’s stock is up 77% over the past year, and it holds over 12% of the U.S. e-commerce market share.
On Holding (NYSE: ONON) saw total sales increase by 38% year-over-year in Q2, with apparel sales rising by 76% and accessories by 143%. The company has doubled its brand penetration in the U.S. over the past year and maintains the highest gross margin in its industry at 61.5%.
Upstart Holdings (NASDAQ: UPST) has returned to growth, with revenue more than doubling in Q2 and generating $5.6 million in net income, its first profit since 2022. The company’s stock currently trades at a price-to-sales ratio of 6 and a forward P/E ratio of 23, positioning it favorably as interest rates decline.
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