Stocks that have been spun off from larger corporate parents stand out as some of this year's most consistent winners. So far in 2024, some 15 companies have completed spinoffs, with the General Electric aviation and energy split being among the notable. Shares of GE Vernova have rallied more than 23% since they started trading in late March. The S & P 500 is higher by almost 9% in 2024 but down a little more than 1% in the second quarter.
" Industrial company Esab , a Swedish-American company that makes welding and cutting equipment, is another spinoff beneficiary, according to Roth MKM. Esab completed its split from Enovis in April 2022. Roth MKM advises investors to buy the stock on pullbacks. Year to date, shares have rallied almost 28%. Paper producer Sylvamo is another stocks where investors should "join the momentum," according to Roth MKM.
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