- The US stock market is off to a bullish start in 2024, with the key indexes posting decent returns so far and looking poised for more gains.
- In this high-performing market, three high-growth stocks have stood out, showing robust fundamentals.
- Let's delve deep into the recent earnings and news for these stocks and examine if now would be a good time to buy.
- In 2024, invest like the big funds from the comfort of your home with our AI-powered ProPicks stock selection tool. Learn more here>>
Given the markets are at all-time highs, many of the current winning stocks are likely to sustain their upward trajectory in the near term.
However, this doesn't necessarily imply there aren't great high-growth opportunities out there waiting to be scooped up.
While finding such companies amid the ocean of information is the tricky part, such growth stocks hold the key to long-term portfolio outperformance as they can significantly contribute to long-term wealth accumulation.
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Now let's take a look at three stocks worth considering for maximizing wealth creation.
1. Encore Wire Showcases Strong Fundamentals
Encore Wire Corporation (NASDAQ:WIRE) dominates the copper wire production market, demonstrating a sustained long-term upward technically.
The company distinguishes itself in financial performance, outperforming its competitors with superior net profit and profitability. A notable example is the net profit per ordinary share, which significantly exceeds the sector average.
Source: InvestingPro
Furthermore, one of the pivotal Return on Investment (ROI) indicators boasts an impressive result exceeding 26%, positioning Encore Wire Corporation at the forefront compared to its leading competitors.
Source: InvestingPro
This means that despite strong growth, the company maintains a positive percentage fair value indicator at 25% and the highest financial health rating. This makes any correction an interesting opportunity to consider entering a long position.
2. Marathon Petroleum: 40% Upside Potential?
Marathon Petroleum Corp (NYSE:MPC), the leading American oil refinery operator, recently unveiled results that surpassed expectations, especially noteworthy in terms of earnings per share (EPS), which exceeded the market consensus by almost 80%.
Source: InvestingPro
The graph illustrates an impressive streak of nine consecutive quarters where EPS outperformed expectations.
This trend is mirrored in revenues, with only Q1 2023 experiencing an overestimation. The robust financial performance forms the bedrock of the ongoing upward trend, with a potential for continuation exceeding 40%. 
Source: InvestingPro
3. Cleveland-Cliffs Achieves Breakthroughs
This week, Cleveland-Cliffs (NYSE:CLF), a player in the metallurgical industry, successfully conducted tests injecting hydrogen (H2) into blast furnace no. 7 in Indiana Harbor—one of the largest facilities of its kind globally.
This breakthrough is crucial for curtailing greenhouse gas emissions in this process.
Although the upward trend on the chart is not as advanced as seen in the two previously discussed companies, there is still a potential for at least a 30% extension of the movement.
Breaking through the resistance level, situated in the price range of around $22 per share, will be pivotal for the trend to continue successfully. 
Breaking out of this technical area technically opens the way for growth with a maximum reach towards the peaks from March of last year.
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Disclaimer: This article is written for informational purposes only; it does not constitute a solicitation, offer, advice, or recommendation to invest as such it is not intended to incentivize the purchase of assets in any way. I would like to remind you that any type of asset, is evaluated from multiple points of view and is highly risky and therefore, any investment decision and the associated risk remains with the investor.