LVGO - These 3 Stocks Soared More Than 50% in July. Are They Still Hot Buys?
The S&P 500 is coming off a strong month of July, where the index rose by 5.5% as the markets continue to recover from the terrible March crash that sent many investors into a panic. Some stocks are doing much better than others because their companies are proving to be resilient during the coronavirus pandemic.
Below are three of this year's hottest stocks on the U.S. markets, with the laggard of the three being up a paltry 87% year to date. But considering how much progress the markets have made over the summer, investors may be wondering if the upward trajectory may be heading for a plateau and if it's time to take profits. Let's take a look at why these stocks did so well last month and whether they're still good buys right now.
Livongo Health (NASDAQ: LVGO) is up more than 382% since the start of the year, leaving the S&P 500's nearly 4% return in the dust. The company's digital health technology helps people with chronic conditions like diabetes to stay connected to their doctors while keeping track of health information like blood glucose levels. Livongo has enterprise clients like employers and insurance companies that provide the health tools to their employees or insured people respectively for free because the service results in better health outcomes and lower healthcare spending.