Top performing stocks in August 2024

By:

Cory Mitchell

Cory was a Market Analyst for Invezz and has been a professional trader since 2005. Over the years he has contributed to some of the best... read more.

Updated: Sep 21, 2023

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Seasonality is the study of how assets perform at certain times of the year. Historically, the stocks below have shown a strong tendency to rise in August while the rest of the stock market slows. That doesn’t mean they will rally this August, though. Seasonality is best used in conjunction with other forms of analysis and specific trading strategies.

What are the top stocks that perform well in August?

Check the table below to find the best stocks that performed well in August based on the data we’ve collected from 1998 to 2024.

74% Rally Rate

Atmos Energy Company (ATO)

• Price has rallied 20 out of 27 years, or 74%.
• Average August gain, for all years, is 2.54%.
• In the rising months (20) the average gain has been: 4.6%.
• In declining months (7) the average loss is -3.33%.
• Biggest gain is 13.29%, and biggest drop is -8.01%.

Atmos Energy provides natural gas service to over 3 million customers. The utility stock offers stable earnings growth and an attractive 2-3% dividend yield, making it appealing for long-term investors in the stock market. Atmos has increased its dividend for 37 straight years.

The company invests heavily to upgrade gas infrastructure and improve safety. Atmos aims for consistent revenue growth through customer additions and rate increases approved by regulators. Its defensive utility business model and focus on returns make Atmos an attractive stock pick for August 2024.

73% Rally Rate

Haemonetics Corporation (HAE)

• Price has rallied 19 out of 26 years, or 73%.
• Average August gain, for all years, is 3.03%.
• In the rising months (19) the average gain has been: 6.45%.
• In declining months (7) the average loss is -6.28%.
• Biggest gain is 25.07%, and biggest drop is -10.81%.

Haemonetics provides blood and plasma related products and services. The company is benefiting from growth in plasma collection centres. Haemonetics is launching new products and expanding its customer base, which should drive future revenue growth.

The company faces some near-term challenges but is well-positioned to benefit from secular expansion in plasma-derived pharmaceuticals. Despite short term volatility, Haemonetics offers good exposure for long term investors to the growing plasma industry.

72% Rally Rate

Scotts Miracle-Gro Company (SMG)

• Price has rallied 18 out of 25 years, or 72%.
• Average August gain, for all years, is 4.76%.
• In the rising months (18) the average gain has been: 8.74%.
• In declining months (7) the average loss is -5.47%.
• Biggest gain is 37.94%, and biggest drop is -13.27%.

Scotts Miracle-Gro is the market leader in consumer gardening and hydroponics products. The company sells well-known brands like Miracle-Gro through major retail partners. Scotts is investing in connected devices and artificial intelligence to improve operations.

The company may encounter a difficult period, but its substantial brand equity makes Scotts a compelling long term play. The stock could rebound strongly once macroeconomic concerns ease.

70% Rally Rate

Xilinx Inc. (XLNX)

• Price has rallied 19 out of 27 years, or 70%.
• Average August gain, for all years, is 3.59%.
• In the rising months (19) the average gain has been: 8.26%.
• In declining months (8) the average loss is -7.5%.
• Biggest gain is 20.03%, and biggest drop is -18.68%.

Xilinx develops programmable logic chips and software design tools. The company is benefiting from 5G infrastructure and data centre demand growth around the world.

Microsoft Corp is acquiring Xilinx, which will position the combined entity as a leader in artificial intelligence chips. Xilinx has a strong financial profile and is well-positioned to capitalise on crucial semiconductor trends.

Aqua America Inc. (WTR)

• Price has rallied 19 out of 27 years, or 70%.
• Average August gain, for all years, is 3.82%.
• In the rising months (19) the average gain has been: 7.82%.
• In declining months (8) the average loss is -5.68%.
• Biggest gain is 22.05%, and biggest drop is -11.68%.

Aqua America is a regulated water and wastewater utility serving over 3 million people. Highly predictable earnings have allowed 28 straight years of dividend increases and a rising share price. Aqua aims for growth through acquisitions, expanding its customer base.

Auqa America invests over $1 billion annually to upgrade water infrastructure. Aqua’s stable utility model and consistent payouts make it one of the top stock picks in August 2024.

II-VI Incorporated (IIVI)

• Price has rallied 19 out of 27 years, or 70%.
• Average August gain, for all years, is 7.84%.
• In the rising months (19) the average gain has been: 15.14%.
• In declining months (8) the average loss is -9.5%.
• Biggest gain is 36.57%, and biggest drop is -21.05%

II-VI manufactures engineered materials, components, and products for communications, industrial, military, and semiconductor markets. II-VI is seeing strong demand for 5G wireless infrastructure and electric vehicle lasers.

The company has a diversified business model across many different segments. Despite near term volatility, II-VI’s market dominance and secular growth exposure make it a convincing long term play.

What is the typical seasonal performance of stocks in August?

Now that we’ve seen the best historical August stock performers, it is important to learn that August is statistically one of the worst months of the year for the stock market. Over the last 19 years the S&P 500 index has moved higher in August 53% of the time (number above columns), but overall has dropped more than 1% on average each year (number at bottom of columns).

In more recent history, August has also fared poorly with stock prices dropping. For example, over the last 10 years, it is up 50% of the time, dropping on average -0.8%. Over the last 5 years, it is up 40% of the time, dropping -0.8% on average.

Where to buy the best-performing stocks for August?

You will usually use a stock broker to buy the above stocks. We’ve shortlisted the top brokers to buy the stocks mentioned in the table below.

Most Popular

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$ 10

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User Score

10

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Payment Methods:

Bank Transfer, Credit Card, Debit Card, PayPal, Wire Transfer

Full Regulations:

CySEC, FCA

77% of retail CFD accounts lose money.

2

Min. Deposit

$ 100

Best offer

User Score

9.8

Trade +2000 CFDs on Shares, Options, Commodities & more

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Payment Methods:

American Express, Apple Pay, Bank Transfer, Credit Card, Debit Card, Discover, Google Pay, Mastercard, PayPal, SEPA, Trustly, Visa, , skrill

Full Regulations:

ASIC, FCA, FSA, MAS, cysec-250-14-regulator, isa-regulator

82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

3

Min. Deposit

-

Best offer

User Score

9.7

Diverse Stock Selection: Interactive Brokers offers a wide range of domestic and international stocks, providing investors with a diverse array of options for their portfolios.

Advanced Trading Tools: Investors benefit from real-time market data and advanced tools, empowering them to make informed decisions and execute trades with precision in the dynamic stock market.

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Payment Methods:

ACH, Bank Wire, Check

Full Regulations:

CFTC, FCA, FINRA, IIROC, NFA, NYSE, SIPC

Strong Seasonality Stocks for August

The statistics below are based on the historic monthly opening and closing prices. Therefore, gains or losses within the month may be larger than those disclosed below. For example, a statistic may say the biggest rally on a monthly basis was 15%, but during the month the stock could have been up 20%, but dropped to only finish the month up 15% (intra-month losses could also be bigger). This is why it is also recommended traders combine these statistics with other strategies, which help control risk and lock in profits.

Buying at the open and close of the month is also somewhat arbitrary. There are more precise times to take trades. Focus on seasonal opportunities that align with strategies you are already using.

This is the raw data. How you interpret it, and what you opt to do with it, is up to you.

All stocks do at least 100K in average daily volume.  All stocks with an average gain of less than 2.5% have been excluded.

Final Word on the Strong August Seasonality Stocks

This is the raw data. What you do with it is up to you. All traders are encouraged to do their own research and apply their own strategies if utilising these statistics.

Each stock has a different risk profile. While the ‘average gain’ statistic is a key metric, it doesn’t tell the whole story. Making 7% may seem attractive but when looking at the volatility it may be more than you are willing to handle. Therefore, look at the all the data when deciding what to trade. Also, apply other technical and fundamental metrics to help zero-in on exact entry and exit points. Seasonality is not covered in my stock trading course, because it is a not a requirement for successful trading. That said, it is an additional tool you can use.

Losing trades WILL happen. Don’t risk more than 1% of your trading account on a trade (risk = difference between entry price and stop loss price, multiplied by the number of shares). There is always a risk in trading, and you can lose much more than you expect (even when you think you are only risking 1%). Remember to keep an eye on the share price.

Disclaimer: This article should not be viewed as investment advice, and is not a recommendation for you to buy or sell. Past performance is not necessarily indicative of future performance.