Small Stocks, Big Money: Top-Performing Stocks of 2024

2024 has been an exceptional year for small-cap stocks, with several companies delivering impressive gains and creating significant value for investors. In this year’s top 10 performers list, we celebrate the companies that exemplify innovation, resilience, and growth. Here’s a closer look at a few of the top standout performers of 2024:

Alliance Entertainment: Operational Optimization Drives Turnaround

Alliance Entertainment solidified its leadership in physical media distribution in 2024 through strategic initiatives that optimized its operations and diversified its offerings. The company achieved significant growth in adjusted EBITDA and net income, with fiscal 2024 and the trailing 12-months ended September 30, 2024, showcasing a strong turnaround.

A key highlight was Alliance’s December acquisition of Handmade by Robots, a unique line of collectible vinyl figures styled to resemble knitted plush toys. This move expands Alliance’s growing collectibles division and strengthens its relationships with retailers like Walmart, Amazon, and Target. By leveraging its extensive distribution network and exclusive licensing agreements, Alliance aims to accelerate growth in this high demand market.

Gorilla Technology: Driving Global Digital Transformation

Gorilla Technology continues to lead the way in AI-driven smart city and IIOT solutions, achieving impressive milestones in 2024. The company enters 2025 with a $93 million backlog and a robust revenue projection of $90 million to $100 million for the year, supported by an EBITDA margin of 20-25%. This strong outlook is fueled by Gorilla’s growing $2 billion project pipeline, which spans multiple regions and sectors.

Recent highlights include the company’s partnership with BroadSat, projected to generate $6 to $9 million in its first 12 months and exceed $20 million annually as it scales. Gorilla also secured a significant smart education contract in Southeast Asia and is actively bidding on a $70+ million project in the United States.

As Gorilla expands its footprint in key markets, its innovative AI solutions continue to transform industries ranging from public safety to smart infrastructure, cementing its position as a global leader in digital transformation.

Nova Minerals: Unlocking High-Grade Gold and Critical Minerals

Nova Minerals continues to advance its Estelle Gold and Critical Minerals Project in Alaska, with 2024 yielding breakthrough discoveries. Among the highlights is the confirmation of an 800m by 400m antimony-rich zone at the Stibium prospect, with assay results showing grades as high as 56.7% antimony. This positions Nova as a key player in addressing critical mineral supply chain challenges, especially as antimony remains crucial to U.S. economic and national security interests.

The company’s collaboration with the Department of Defense progresses, as Nova aims to fast-track resource development with potential grant funding. Alongside its high-grade antimony findings, Nova’s gold exploration also continues to deliver promising results, with the broader Estelle project boasting over 5.2 million ounces of gold and multiple prospects for further expansion.

With a strategic focus on unlocking the full potential of its critical minerals and gold assets, Nova Minerals remains a standout performer in the mining sector and a key player in the global push for mineral independence.

The Bigger Picture

While Alliance Entertainment, Gorilla Technology, and Nova Minerals stood out as remarkable performers, they are just a few highlights from a year of stellar results across our top 10 list. These companies reflect the diversity and potential of small-cap stocks to deliver impressive returns. Be sure to check out the full list of top gainers to discover even more standout performers of 2024.