It is no surprise that stocks have had a tumultuous 2020. Surprisingly, some individual stocks are continuing to defy the odds and are posting massive year-over-year gains. One such stock has posted gains of a whopping 90% so far this year.
The stock in question is TT Electronics, a global components, and services leader that designs and manufactures a broad range of electronic components for the automotive, industrial, aerospace and defence sectors. Their stock price has steadily risen throughout the year, and they are now seeing gains of up to 90%.
This has been a remarkable run for TT Electronics, who saw their stock dip drastically during the early months of the COVID-19 pandemic. Their stock began to recover in May, and has since continued to climb steadily. This is likely due to strong demand for their products as many industries recover from the pandemic. Additionally, the company posted strong financial results last quarter, with an increase in revenue and profit margins.
Furthermore, this isn’t the first time that TT Electronics’ stock has seen such dramatic gains in a single year. Back in 2003, the stock posted a gain of 92.7%, and subsequently went on to post a 122% gain for the rest of the year.
The message is clear: TT Electronics’ stock is on a tear, and could continue to post incredible gains as the global economy recovers. This could be a great opportunity for investors looking for strong returns. Of course, it is important to remember that the stock market is unpredictable and there is always a risk of losses. With that said, TT Electronics is a strong company and if their stock continues to perform as it has this year, they could be a great investment for any investor.