If you’re looking for some of the hottest opportunities on the market, consider some of the best momentum stocks to buy. After all, momentum investors try to ride the highs no matter what happens. Even when a hot stock reaches above levels the markets believe are too high, those investors continue to buy. Many times those investors are rewarded their contrarian positions with quick returns.

Here are just a few of the stocks I consider to be the best momentum stocks to buy.

Super Micro Computer (SMCI)

Super Micro Computer (NASDAQ:SMCI) has doubled over the last month leaving many wondering whether it can go higher. The company has been one of the biggest beneficiaries of the artificial intelligence (AI) data center build-out. Better, Super Micro Computer is one of the better AI investments overall. It does indeed look like Super Micro Computer will rise higher, as one of the best momentum stocks to buy today.

The reason to remain bullish on the stock is really about the trajectory of its rapid Improvement. In mid-January, the company announced that its December quarter revenues would be 30% higher than it had previously forecast. Investors who reference a chart will see that shares jumped roughly $110 on that news, rising to $423. Q2 fiscal year results, released on Jan. 29, sent shares even higher as the company upped its guidance substantially for the remainder of 2024. 

As always, the question with any momentum stock becomes why should this hot stock continue to move upward? The answer in the case of Super Micro Computer is simple and powerful: demand continues to outstrip supply and Silicon Valley Continues Is signaling strong purchasing intent. The company will have no problem selling its AI servers and pricing factors are heavily in its favor.

TeraWulf (WULF)

Bitcoin miner TeraWulf (NASDAQ:WULF) shows plenty of potential to push even higher. Better, analysts covering TeraWulf –  all four of them –  collectively give it a consensus price of $3.88. Those investors willing to jump in now have a very realistic opportunity of seizing double or triple-digit returns based on simple arithmetic. 

TeraWulf markets itself as an environmentally clean Bitcoin miner. The company states that 91% of the Bitcoin it mines is powered by zero-carbon energy sources. 

In addition, the company continues to mine Bitcoin at a rate of roughly 900 BTC per quarter or better. With the next Bitcoin halving coming in April, TeraWulf’s current consistent production makes it valuable.

Talkspace (TALK)

Talkspace (NASDAQ:TALK) continues to develop its video, audio, and text-based platform that connects patients to licensed mental health care professionals. It’s very fair to presume that there’s something of a healthcare revolution going on in the United States.

Helping, the stigmatization of mental health disorders is declining rapidly, and seeking the services of a licensed health care professional is becoming much more mainstream. 

That’s reflected in the fundamentals of Talkspace. Revenue continues to rise at a predictable rate over a period of several quarters. Gross profits and margins continue to rise during that same time frame. Meanwhile, the company’s losses continue to head down at a similar rate. Overall, Talkspace looks like a very solid company overall and a strong choice among mental health care penny stocks in particular.

CleanSpark (CLSK)

CleanSpark (NASDAQ:CLSK) has gone from a troubled Bitcoin miner to one that is thriving over the last year. The company released earnings on Feb. 8 which showed very strong progress. The release of those earnings sent shares higher. Those prices will likely continue to rise higher as the approach of April’s Bitcoin halving draws nearer. 

CleanSpark reported $73.8 million in sales in the first quarter. That figure represented a 165% increase from the $27.8 million of sales it reported a year earlier. Bitcoin prices have more than doubled in that time frame, greatly benefiting the company. A $29 million loss a year ago became $25.9 million of net income in the most recent quarter.

Pundits are forecasting staggering growth for BTC prices  as a result of the Bitcoin having. The numbers are all over the place but all imply the same truth: Bitcoin is going to soon become more difficult to secure and the lessened supply may very well propel BTC to new all time high prices.

MoonLake Immunotherapeutics (MLTX)

MoonLake Immunotherapeutics (NASDAQ:MLTX) is a well-positioned stock with a single drug portfolio.

At the moment, the company’s lead product — sonelokimab — continues to progress toward US FDA approval for the treatment of psoriatic arthritis, a chronic and progressive inflammatory arthritis associated with psoriasis primarily affecting the peripheral joints, as noted by the company.

The market for the condition is expected to continue growing, which could also make Moonlake Immunotherapeutics a clear acquisition target. The company also benefited from positive earnings revisions over the last few months.

GigaCloud Technology (GCT)

GigaCloud Technology (NASDAQ:GCT) is a relatively small but strong e-commerce stock that momentum investors should consider. The company provides B2B E-commerce services for large parcel merchandise. That includes products such as furniture, home appliances, and gym equipment for example.

GigaCloud Technology’s Platform connects buyers with manufacturers allowing products to be sent directly from the warehouse to the customer’s doorstep.

The company last released earnings in November. Those results showed very strong progress. Sales increased by 39%, reaching $178.2 million. Net income was a particular bright spot, growing by more than 3,350% to $24.2 million.

Investing in GigaCloud technology will require a real momentum stock mindset: share prices are where analysts expect them to be and only have very slight upside. However, momentum investors know that strong companies like GigaCloud Technology are, in many cases, unconstrained by such price limits. It’s also perfectly reasonable to buy GCT stock simply because it’s a well run, profitable, quickly growing e-commerce firm in what is a strong sector.

Nvidia (NVDA)

Another one of the best momentum stocks to buy is Nvidia (NASDAQ:NVDA).

Nvidia’s shares continue to march upward in 2024 at a very similar rate to which they progressed throughout 2023. While $700 may seem like a steep price level, there is no shortage of analysts who say Nvidia can rise above $1,000 per share.

Investors need to ask themselves whether Nvidia’s AI training chips are still in demand and whether they’re expected to continue to be in demand. The answer to both those questions is yes.

Is Nvidia truly overvalued? The fact that more than 12% of the semiconductor industry trades at a higher price-to-earnings (P/E) ratio than Nvidia strongly suggests that it isn’t.

On the date of publication, Alex Sirois did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Alex Sirois is a freelance contributor to InvestorPlace whose personal stock investing style is focused on long-term, buy-and-hold, wealth-building stock picks. Having worked in several industries from e-commerce to translation to education and utilizing his MBA from George Washington University, he brings a diverse set of skills through which he filters his writing.

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