No one can deny it – the stock market is in full swing. At the time of writing this article S&P500 has closed at an all-time high 38 times this year and is up more than 18% year-to-date. So it’s no surprise that many stocks are hitting new 52-week highs. But that doesn’t mean it’s too late to invest in some excellent stocks. Let’s take a closer look at three of them.

Walmart

First high Is Walmart (NYSE: WMT). With a rise of 40% since the beginning of the year and 42% in the last 12 months, the retail giant’s shares are not only at a 52-week highthey are at an all-time high. This is quite astonishing considering that inflation has taken its toll on consumers.

However, this canActually, be part of the reason Walmart is doing so well. With prices up about 20% from four years ago, many consumers are changing their shopping habits, moving from mid- and higher-end retailers to lower-end retailers for groceries, clothing and electronics.

In any case, business is booming. Sales have risen to an incredible $665 billion. What is morePart of the company’s success can be attributed to its investments in generative artificial intelligence (AI). During the company’s recent earnings call, Walmart CEO Doug McMillon explained that the company is using generative AI to create or enhance “more than 850 million data elements” in the company’s online catalog. This not only saves Walmart money, but also improves The Shopping experience for its customers — leading to more sales.

Palantir

Next on the list is Palantir (NYSE:PLTR). Shares of this AI superstar are up 127% over the past 12 months and 97% year-to-date. The company operates an AI-powered platform used by government agencies, defense contractors, and private organizations. Over the past year, the company has experienced tremendous growth due to the increasing popularity of AI applications.

The company’s revenue increased to $2.5 billion over the past 12 months, up 27% year over year. What is morePalantir’s commercial (non-government) customers are growing even faster. The total number of commercial customers in the US is up 83% year over year.

Overall, it’s important to remember that Palantir is a growth-oriented company. — still at an early stage of its life cycle. Nevertheless, the company has reported a profit in every quarter since the beginning of 2023, which shows that the company’s business model is working.

MercadoLibre

Finally, there is MercadoLibre (NASDAQ: MELI). This company, which operates a huge e-commerce business focused on the Latin American market, is running at full speed. MercadoLibre shares are up 26% year-to-date and 65% over the past 12 months.

The story continues

In short, MercadoLibre’s sales are huge. The company reported revenue of $17.4 billion in the last 12 months, up from $13.5 billion last year. In addition, analysts expect MercadoLibre to continue to generate huge sales numbers.. Sales are projected In 2025, it is expected to rise to $24.5 billion.

In short, MercadoLibre’s growth is just too good to ignore. There are very few companies that have averaged nearly 40% revenue growth over the past year, but MercadoLibre is one of them. That’s why the stock is once again hitting new highs. Growth-oriented investors should take note and consider buying shares of this e-commerce giant.

Don’t miss this second chance at a potentially lucrative opportunity

Have you ever felt like you missed out on the best performing stocks? Then you should listen to this.

In rare cases, our team of expert analysts publishes a “Double Down” share Recommendation for companies that they believe are on the verge of a breakthrough. If you fear that you have already missed your investment opportunity, now is the best time to buy before it is too late. And the numbers speak for themselves:

• Amazon: If you had invested $1,000 when we doubled in 2010, You would have $19,939!*

• Apple: If you had invested $1,000 when we doubled in 2008, You would have $42,912!*

• Netflix: If you had invested $1,000 when we doubled in 2004, You would have $370,348!*

We are currently issuing Double Down alerts on three incredible companies, and an opportunity like this may not come again anytime soon.

Check out 3 “Double Down” Stocks »

*Stock Advisor returns as of August 26, 2024

Jake Lerch owns an investment in MercadoLibre. The Motley Fool owns an investment in and recommends MercadoLibre, Palantir Technologies, and Walmart. The Motley Fool has a disclosure policy.

3 Stocks With 52-Week Highs to Buy Right Now was originally published by The Motley Fool.